Apple banking partner Goldman Sachs has issued another statement regarding allegations made earlier in the week that some credit decisions for Apple Card have been made in a discriminatory manner on the basis of gender.

apple card
In a typed statement, an image of which was shared on Twitter on Monday night with the comment "We hear you #AppleCard," Goldman Sachs retail bank CEO Carey Halio said that the bank would take another look at credit lines for customers who expected higher limits.

"We have not and never will make decisions based on factors like gender," Halio said. "In fact, we do not know your gender or marital status during the Apple Card application process."

The CEO added that Goldman Sachs worked with a third-party to review its credit decisioning process "to guard against unintended biases and outcomes."

If you believe that your credit line does not adequately reflect your credit history because you may be in a similar situation, we want to hear from you. Based on additional information that we may request, we will re-evaluate your credit line.

Over the weekend, app developer David Heinemeier Hansson claimed on social media that his ‌‌Apple Card‌‌ credit limit was twenty times that offered to his wife, even though the couple has been married for many years, file joint tax returns, and live in a community property state where all income and assets acquired while married are considered jointly owned.

Apple co-founder Steve Wozniak also reported that his ‌‌Apple Card‌‌ credit limit was ten times that offered to his wife, with the Wozniaks in a similar financial situation where all assets are jointly owned.

In response, the New York State Department of Financial Services announced that it would would examine whether the algorithm used to make the credit limit decisions violates state laws that prohibit discrimination on the basis of sex.

In Goldman Sachs' original response to the controversy, the bank maintained that factors like gender are never used in credit decisions and explained how members of a family could receive very different credit decisions.

Note: Due to the political nature of the discussion regarding this topic, the discussion thread is located in our Politics, Religion, Social Issues forum. All forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts.

Top Rated Comments

PickUrPoison Avatar
61 months ago
Factors that don’t affect your FICO credit score:

* Being married for many years
* Gender
* Filing joint taxes
* Living in a community property state
* Assets, no matter their value—$1,000 or $100 million—regardless of whether they are individually or jointly owned
* Income, be it individual, joint, from social security, a trust fund, or even if it is non-existent. You can be a CEO of a Fortune 10 company or collect cans and bottles for recycling, whether you make $100/year or $100 million/year. Doesn’t matter.
* Whether you rent a run down shack on the wrong side of the tracks or live in a gated community in a $50 million mansion.
Score: 7 Votes (Like | Disagree)
Wanted797 Avatar
61 months ago
All this because some moron who doesn’t understand how credit checks work.

Did any of the men who came out about this disclose what they earn vs their wives?
Score: 5 Votes (Like | Disagree)
PickUrPoison Avatar
61 months ago
Factors that can affect your initial credit line as determined by manual or automated underwriting:

* Credit score
* Stated income
* Debt to (stated) income ratio
* Verified income
* Assets
* Size of credit lines on other revolving accounts
* Almost anything in your credit file, which is probably already reflected in your FICO score but which may be given additional weight, including:

* Late payments, especially if recent
* Number of accounts with balances
* Ratio of revolving balance(s) to credit line(s)—individually and/or in the aggregate
* Existence of a public record, such as judgment, lien or bankruptcy
* Open installment accounts, such as auto loan
* Existence of a mortgage loan
* Length of credit history/age of oldest account
* Recently opened accounts
* Requests for your credit file by other lenders aka inquiries
* etc.


Even if two people have the same credit score and even the same income, the above factors will result in drastically different credit limits being offered for new accounts. One bogus collection can cost you 125 points and get you a $1,000 limit instead of $10k or $20k.
Score: 4 Votes (Like | Disagree)
WolfSnap Avatar
61 months ago
As a licensed Realtor and a licensed Lender who deals with FICO and credit issues on a daily basis, let me just say that most people here have NO IDEA what they're talking about.

A married couple who are on each other's credit cards as authorized users, and have been married a long time with basically identical credit scores/credit reports, show their income as a combined family. If my wife and I apply for a card, it's likely that we'd get VERY similar credit limits. There's definitely going to be a small difference as the credit pull itself will change things, and it's possible that one spouse has something slightly different than the other -- BUT, there should NEVER be as much of a difference as the original poster claimed of 10x the credit limit.

My wife and are have credit scores within a few points of each other.. I've been as high as 850 before (for years, until I decided to buy a new car and get a few new cards.. It'll be back there soon enough). My wife has hovered around the same score as mine. Mostly her's is different only due to differences in credit pulls and if she's an authorized user or primary user on loans/cards.

When we've applied for new credit from, say, chase, on a new credit card with a huge sign-up bonus of reward points, the credit limits we've been offered have been within a few dollars of each other.

This isn't a rare situation, and it's very likely that GS had some crazy algorithm that was causing issues. Or, they're just sexist. One of the two. LOL
Score: 4 Votes (Like | Disagree)
bbednarz Avatar
61 months ago
If these people want to be taken seriously then they need to post all their information that was used in determining the credit limit. Put all the information out there so people can make up their mind. At this point it's just a bunch of SJW's screaming sexism.

And isn't this all just a dick measuring contest? Are people really spending to their credit limit...? I have a $7,500 credit limit with them. I will almost definitely (unless tragedy strikes) never even come close to that.
Score: 2 Votes (Like | Disagree)
Adam Warlock Avatar
61 months ago
Why do companies even take this sort of nonsense seriously? Because 'media' sites pick this sort of **** up and spread it around like so much bovine manure? Who cares? It's best to give this sort of garbage it's due in actual value: nothing. Sooner or later the distributors of this crap will give up when they notice it doesn't have any effect.
Score: 2 Votes (Like | Disagree)

Popular Stories

iPhone SE 4 Vertical Camera Feature

iPhone SE 4 Rumored to Use Same Rear Chassis as iPhone 16

Friday July 19, 2024 7:16 am PDT by
Apple will adopt the same rear chassis manufacturing process for the iPhone SE 4 that it is using for the upcoming standard iPhone 16, claims a new rumor coming out of China. According to the Weibo-based leaker "Fixed Focus Digital," the backplate manufacturing process for the iPhone SE 4 is "exactly the same" as the standard model in Apple's upcoming iPhone 16 lineup, which is expected to...
iPhone 17 Plus Feature

iPhone 17 Lineup Specs Detail Display Upgrade and New High-End Model

Monday July 22, 2024 4:33 am PDT by
Key details about the overall specifications of the iPhone 17 lineup have been shared by the leaker known as "Ice Universe," clarifying several important aspects of next year's devices. Reports in recent months have converged in agreement that Apple will discontinue the "Plus" iPhone model in 2025 while introducing an all-new iPhone 17 "Slim" model as an even more high-end option sitting...
iPhone 16 Pro Sizes Feature

iPhone 16 Series Is Just Two Months Away: Everything We Know

Monday July 15, 2024 4:44 am PDT by
Apple typically releases its new iPhone series around mid-September, which means we are about two months out from the launch of the iPhone 16. Like the iPhone 15 series, this year's lineup is expected to stick with four models – iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and iPhone 16 Pro Max – although there are plenty of design differences and new features to take into account. To bring ...
Apple TV Plus Feature 2 Magenta and Blue

Apple TV+ Curbs Costs After Expensive Projects Fail to Capture Viewers

Monday July 22, 2024 5:11 am PDT by
Apple is scaling back its Hollywood spending after investing over $20 billion in original programming with limited success, Bloomberg reports. This shift comes after the streaming service, which launched in 2019, struggled to capture a significant share of the market, accounting for only 0.2% of TV viewership in the U.S., compared to Netflix's 8%. Despite heavy investment, critical acclaim,...
bsod

Microsoft Blames European Commission for Major Worldwide Outage

Monday July 22, 2024 11:55 am PDT by
Last Friday, a major CrowdStrike outage impacted PCs running Microsoft Windows, causing worldwide issues affecting airlines, retailers, banks, hospitals, rail networks, and more. Computers were stuck in continuous recovery loops, rendering them unusable. The failure was caused by an update to the CrowdStrike Falcon antivirus software that auto-installed on Windows 10 PCs, but Mac and Linux...