The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.
© Click For Restrictions - https://agency.reuters.com/en/copyright.htmlApple co-founder says Apple Card algorithm gave wife lower credit limit
By Subrat Patnaik SAN FRANCISCO©2024 GPlusMedia Inc.
8 Comments
Login to comment
extanker
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.
JJ Jetplane
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.
Omachi
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.
lostrune2
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
albaleo
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.)
mmwkdw
I wonder if Apple thinks that Women tend to spend more upon unnecessary things than Men ?