Hi, just everyone participating in this thread is on the same page and for general overall clarity, I’m going to explain a few things.
Your Apple Card Mastercard is issued and serviced by Goldman Sachs Bank. The card is considered a co-branded credit card. Many large companies have co-branded credit cards. I have co-branded cards from American Airlines, Hilton, Marriott, Hotels. com and several others. Apple overall has little to do except market the product as a service.
When you call Goldman Sachs Bank about your account you’re chatting or speaking to an Apple Card Specialist. The specialist is neither an employee of Apple or Goldman Sachs. You’re speaking to an employee of a third party business contracted by Goldman to supply customer service representatives. If you call Apple about your account, the call is transferred to, yup you guessed it, the same third party customer service representative. The only time you’ll talk to an Apple employee is if there is a technical issue involving iPhone hardware etc.
I suspect the third party Apple Card Specialist did hang up on you. Beyond that I can’t comment because I’ve not heard the conversation leading up to the termination of the call.
When you accepted your Apple Card account, Goldman Sachs offered you a credit limit, interest rate and payment terms that you agreed to. The key takeaway here is you agreed to make payments on your account by the due date. In return for making those payments on time, you’d continue to have the agreed upon credit limit. Each party has to trust the other and fulfill their obligation.
It sounds like there was an issue with a payment. Whether it was your fault or not, you failed to fulfill your agreed upon obligation. The bank took action to protect their interests. They temporarily did not restore your credit limit.
The bank understands that mistakes happen. If this happened with the majority of credit cards, you’d have owed additional fees for returned payment and late fees. But more importantly the trust the bank showed to you has been damaged. How do they know you won’t do this every month? You need to make several on time payments to help restore the trust.
When you initiate a payment, Goldman starts the request by sending the request for funds to your bank. Most banks typically show the debit instantly, but that’s a courtesy to help the customer balance their account and not overdraft the account. In reality the funds are still there. The transfer typically takes 3 to 5 business days to complete. It might have been a week before Goldman actually received the funds. During that time it’s trust that allows Goldman to increase your available credit. However, your bank/credit union can request the return of those funds ie cancel the payment, for up to 30 days. That’s a lot of trust a bank has to offer their customer/account owner.
The easiest way around this issue is to make future payments using Apple Cash. It’s simple, do an instant transfer to Apple Cash, then pay the monthly Apple Card statement using Apple Cash as the source of the funds.
I understand your frustration and just want to say we’re all here to help. I’m happy to answer any questions or concerns. 😀
