Regulators Looking Into Claims of Gender Discrimination in Apple Card Credit Decisions, Goldman Sachs Responds

Gender discrimination with credit cards now?!? I’m convinced that quite a lot of people in this world love drama.

If Goldman Sachs can publish their requirements this should all blow over.

And tell people how to scam the system?

Nothing to see here, 99% of these are automated decisions made by a computer without any kind of gender code in them. People are just looking for attention and Wozniak is trying to become relevant again.

The signaling by this grown adult male is cringe beyond cringe. Grown-up thinking is simple. First, don't throw a tantrum, in public, on the Internet, at home. It makes you an infant. Second, include the scientific process into your deductions, notably falsifliability. This is hard, yes, but for a moment consider all the varying possibilities that you could be—could be—wrong! Starting with a conclusion first makes you a child.

Claiming gender discrimination without evidence is just a means to score social brownie points from the Internet and an attaboy from this moron's wife.

Some of these comments are very... predictable.

Some of these comments are very... predictable.

Awww. Are you upset the majority of people with a brain aren’t buying into this bs?

This entire story is asinine if you know anything about how credit cards work. Your credit score is just a tiny factor of determining what your CL will be (the reality is banks don’t really use your “score” they all have different algorithms based on the same underlying factors). Even if the spouses all entered the same financial information (ie income) as they are legally allowed, it does not mean that two people will have the same CL. There are umpteen other factors at play most notably how much other credit you currently have extended and the history of that credit. The reality is credit card history does not show up on your spouse’s credit report even if you are married and ultimately liable. If you or your spouse usually adds you as an authorized user you may still have a fine credit score but exceptionally minimal credit history or a smaller outstanding credit line. You can still have a fine credit score with these factors in play but it will impact the credit you are extended for a new card in ways that differ from your spouse.

:rolleyes:
Did these people look at their income vs their partners?
Most these numbers are an algorithm spitting out a number.

Nothing to see here, 99% of these are automated decisions made by a computer without any kind of gender code in them. People are just looking for attention and Wozniak is trying to become relevant again.

I get that Woz is Apple co-founder, was a technical wiz with the ][ and all that, but he's long morphed into the crazy old uncle who you can't take seriously half the time.

Some of these comments are very... predictable.

Please, offer your thoughts.

I'll offer mine, having been in the lending industry.

The most illuminating thing about the reaction to this story is how little people know about how credit, and the lending industry works.

That's not helped by the writer here quoting Woz, and conflating assets with credit worthiness as it pertains to credit cards, and perpetuating that falsehood.

Lenders use a variety of criteria to determine a borrower's credit worthiness.

Income is one criteria, as are assets, as well as others like employment history.

For a revolving, unsecured line of credit like a credit card, one's credit score plays a large role, as does your stated income. Assets do not.

What most people do not comprehend is that your credit score does not take into account your gender, your assets, or your income. It is strictly a measure of one's responsible use of credit, based on your record of timely payments, how much of your credit you utilize, and other factors like defaults and bankruptcies.

I'll say it again -- your credit score has nothing to do with your income, or your assets. Do not conflate them.

Your credit score is primarily an individual score. It pertains to other individuals only when you jointly receive a line of credit with some one else, such as if you both are signatory to a mortgage, co-sign an account. That line is reported to both individual's reports.

Your credit reports are a history of all your reported credit lines and loans. How much you can borrow. How much you owe. When your last payment was. Whether you've been late. That is its scope.

Not how much you make. Not how many kids you have. Not whether you do or don't claim a gender.

Unsecured, revolving lines of credit like credit cards are usually underwritten mainly by one's credit scores, and stated income. Stated income meaning that the lender who issues the card does not independently verify that you actually make the amount your put down on the application. They are required by law to ask for that information, but your are not obligated to provide it. But if you volunteer to, it must be truthful, by law.

When talking about a secured line of credit, like a mortgage, or auto loan, the lender takes a much deeper dive.

In those cases, your assets, debts, bank accounts, investment accounts, and other factors like employment history are part of the underwriting criteria, in addition to your verified income and credit score.

But that's not what this is about.

So, unlike what I've read elsewhere, the comments here thus far have been very…good.

The Feds take discrimination in the lending industry seriously. Those who work in the industry must receive training about it, and other topics like anti money laundering laws on an annual basis.

If DHH believes his spouse has been unfairly discriminated against, his best avenue is to purse it with the authorities, not through Twitter.

Edit: spelling and grammar galore.

it's entirely possible for partners to have different credit scores, happens all the time.

I always knew Apple was the company that would be on the wrong side of history regarding the cis-heteropatriarchy.