Re:Goldman Sachs Wants Out of the Apple Card Business, Repor...
by mixdup on Monday October 16, 2023 @08:58PM
(#37908897)
The Costco (or any other retailer co-branded card) vs. Apple thing is interesting
People run all kinds of purchases through Costco. Weekly grocery runs. Running their business, etc. People generally aren't shopping at Apple on a weekly or even monthly basis. The 3% cash back on Apple purchases just isn't as lucrative as rewards on spending a lot at Costco/Walmart/Target, and don't result in saving as much on credit card fees that the retailers get on their co-branded cards
Re:Goldman Sachs Wants Out of the Apple Card Business, Repor...
by chiph on Monday October 16, 2023 @09:31PM
(#37909217)
I suspect there's a fair amount of overlap between the two populations, which is why I thought the comparison would be interesting. Both tend to attract affluent households.
People run all kinds of purchases through Costco. Weekly grocery runs. Running their business, etc. People generally aren't shopping at Apple on a weekly or even monthly basis. The 3% cash back on Apple purchases just isn't as lucrative as rewards on spending a lot at Costco/Walmart/Target, and don't result in saving as much on credit card fees that the retailers get on their co-branded cards