Picture: Canva
Not simply anybody qualifies for a brand new Apple Card — together with Apple CEO Tim Cook dinner, in accordance with a brand new report. The Goldman Sachs underwriting system apparently rejected his software some time again.
Amid stories these days that Goldman is dropping cash on its deal with Apple, and the 2 would possibly half methods, it virtually appeared like payback. However that’s not it.
Even Tim Cook dinner couldn’t get an Apple Card (for a really brief time)
Within the months main as much as Apple Card’s launch, Cook dinner had his software rejected, in accordance with a report in The Data, as reported by The Apple Submit.
“Engineers from the Silicon Valley large and the Wall Avenue titan have been pulling an all-nighter just a few months earlier than launch, scrambling to discover a answer to an issue that had cropped up: Tim Cook dinner couldn’t get accepted for an Apple Card,” the report mentioned.
An underwriting system like Goldman Sachs’ assesses an applicant’s property, together with earnings, towards money owed and different elements.
Rejections can happen due to a bad credit score or different poor {qualifications}. However Cook dinner’s rejection got here for an additional cause. Apparently excessive fraud danger related to being a high-profile CEO raised a pink flag.
“The Goldman Sachs underwriting course of rejected his software as a result of he’s a high-profile determine that’s recurrently impersonated, and flags on his credit score bureau accounts triggered points,” MacRumors added.
After all, an exception was made for Apple’s CEO, who in the end runs Apple Card. He obtained his Apple Card previous to its launch.
You can also make purchases with Apple Card utilizing Apple Pay in your iPhone, iPad, Mac or Apple Watch. Or you need to use the non-obligatory titanium Apple Card financial institution card. It’s thought of essentially the most safe bank card as a result of it has not quantity or safety code on it.
