Whenever something goes wrong, the first thing to do is find someone to blame. Andy Meek on Apple’s credit card problem:
Over the weekend, one of Apple Card’s most high-profile users — who also happens to be none other than Apple co-founder Steve Wozniak — took the dramatic step of joining in the calls from critics who want more government oversight over the algorithms used to make decisions about card users.
Wozniak said Goldman Sachs, the financial services giant that teamed up with Apple to offer the banking-type services and infrastructure associated with the card, gave Wozniak a 10x Apple Card credit line compared to the one extended to his wife. That’s despite the fact that the couple shares various bank and credit card accounts and that other lenders more or less treat them the same for credit purposes.
Let’s blame Apple because of Goldman Sachs.