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Goldman Sachs has lost billions on Apple Card, but it's optimistic
- teepo 4y ago"Goldman as a 2.93% net charge-off rate, double Chase and Bank of America “Charge-offs” are typically after a customer misses payments for six months More than $16 billion in loan balances More than a quarter of Goldman’s card loans have gone to people with FICO scores below 660 Goldman is less aggressive (and less successful) at recovering charge-off debt than other banks"
- quantified 4y agoThey know how to be a vampire squid on the faces of the genteel class. They'll figure it out for hoi polloi also.