Apple today increased the Apple Card savings account's APY to 4.35%, according to a notification sent to cardholders, including MacRumors contributor Aaron Perris.
This is the second increase to the savings account's APY in as many months, after Apple raised it from 4.15% to 4.25% in December. Apple's rate now matches that offered by popular high-yield savings accounts from American Express and Discover, but there are still some other options that offer even higher APYs up into the 4.5% to low 5% range in the U.S., such as Marcus by Goldman Sachs and Wealthfront.
Apple launched the high-yield savings account in April 2023, in partnership with Goldman Sachs. The account can be opened and managed in the Wallet app on the iPhone, and it has no fees, no minimum deposits, and no minimum balance requirements. You must have an Apple Card, be a U.S. resident, and be at least 18 years old to open an account.
The account allows Apple Card holders to earn interest on their Daily Cash cashback balance, and on personal funds deposited via a linked bank account, or from their Apple Cash balance. The maximum balance allowed is $250,000, and balances are fully insured by the U.S. government's Federal Deposit Insurance Corporation.
The rate increase comes after The Wall Street Journal in November reported that Goldman Sachs is looking to terminate its Apple Card partnership, as part of its broader exit from the consumer lending business. The partnership is expected to end within the next year or so, but it's unclear how this might affect the Apple Card in the future.
Apple is planning to launch a set of smart glasses by the end of 2026, reports Bloomberg. The glasses will be comparable to the Meta Ray-Bans and the Android XR glasses that Google showed off earlier this week.
Apple's smart glasses are expected to include cameras, microphones, and AI capabilities, much like the Meta Ray-Bans. The glasses will be able to take photos, record video, provide...
Wednesday May 21, 2025 8:21 am PDT by Tim Hardwick
Google recently made waves by showcasing a set of lightweight smart glasses featuring deep Gemini integration and an optional in-lens display. The demo has reignited interest in Apple's own smart glasses project, which has been the subject of rumors for nearly a decade. Here's a recap of where things stand.
Current Development Status
Apple is actively working on new chips specifically...
Apple's recently announced CarPlay Ultra promises a deeply integrated in-car experience, but not all iPhone users will be able to take advantage of the new feature.
According to Apple's press release, CarPlay Ultra requires an iPhone 12 or later running iOS 18.5 or later. This means if you're using an iPhone 11, iPhone XR, or any older model, you'll need to upgrade your device to access...
Apple has temporarily increased its iPhone trade-in values in select countries, including the U.S., Canada, Australia, France, Germany, Italy, Spain, U.K., and China. Apple says the extra credit towards a new iPhone is available through June 18.
In the U.S., the maximum estimated trade-in values increased by only $5 to $30, with the full changes in that country outlined below.
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The big news in the technology world this week is that ChatGPT maker OpenAI is working more closely with Apple's former design chief Jony Ive on a futuristic AI device. The company is remaining tight lipped about the device, but Apple supply chain analyst Ming-Chi Kuo has shared some alleged details about its design.
In a social media post today, Kuo said the device will be "slightly larger" ...
Despite being more than two years old, Apple's AirPods Pro 2 still dominate the premium wireless‑earbud space, thanks to a potent mix of top‑tier audio, class‑leading noise cancellation, and Apple's habit of delivering major new features through software updates. With AirPods Pro 3 widely expected to arrive in 2025, prospective buyers now face a familiar dilemma: snap up the proven...
The next generation of CarPlay is finally starting to roll out, and it includes a new feature that solves one of regular CarPlay's longstanding limitations.
Apple last week announced the launch of CarPlay Ultra, and it offers a Radio app, allowing you to control AM and FM radio stations within CarPlay. With regular CarPlay, you must switch between CarPlay and your vehicle's built-in software ...
I thought Goldman Sachs was losing money on the Apple Card. Apple was making money?
Goldman is losing money because they agreed to give credit cards to just about anybody and everybody. It turns out that selling MacBook Pros and iPhone 15 Pros on credit to people with bad credit leads to losses. The deposit accounts are on the low end of “high yield” savings accounts.
Apple doesn’t let Goldman charge late fees and also insists that all statement cycles end on the same day (which means they get deluged with customer service calls early each month). No other card company offers those terms. Goldman was desperate to get into the consumer lending industry so they agreed to it. A few years later they changed their minds.
