Apple co-founder says Apple Card algorithm gave wife lower credit limit

By Subrat Patnaik

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The algorithym doesn’t care about your gender, just your income, payment history and spending habits.

Meanwhile, teenage boys still pay higher car insurance premiums than girls but nobody seems to be bothered by that inequality.

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I'm going to go out on a limb and guess that these guy's wives probably have some dings on their credit that their hubbies might not be aware of.

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Goldman said Apple Card applicants were evaluated independently, according to income and creditworthiness, taking into account factors such as personal credit scores and personal debt

My wife has 6 years of credit history, no debt, no installment loans, and I gave her the exact same income as mine. I have 14 years of credit history, no debt, perfect payment history, paid off several installment loans. Her credit limit was actually much higher than mine. Mine was only $2,000 which was a slap in the face and my wife's card was $16,000. So this either means the sexism thing isn't real or they rate African Americans much lower than asians.

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Each card program – this one being Goldman/Apple, will have an algorithm that determines whether a card will be issued, and at what credit limit – based upon the acceptable risk to the issuer. The issuer in this case is probably Goldman, with Apple simply loaning their name. But it could be Apple itself. I have seen several card issuance algorithms for use here in Japan, and I would be very surprised if sex wasn’t part of it. But age and educational achievement too, so in this case I do wonder what differences might exist beyond sex.

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There is no Apple Card in Japan and unlikely in the future.

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A computer algorithm is only as good as the humans who made it

People should stop treating computers as unbiased arbiters that magically willed itself into existence - the powers that be behind the curtain are the human developers

There is no wizard, Dorothy

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Hanson's wife had this to say,

"I had a career and was successful prior to meeting David, and while I am now a mother of three children — a 'homemaker' is what I am forced to call myself on tax returns — I am still a millionaire who contributes greatly to my household and pays off credit in full each month."

That suggests that income may be a factor. (It doesn't explain JJ's case above.)

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I wonder if Apple thinks that Women tend to spend more upon unnecessary things than Men ?

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