The Apple Card credit line approvals are not 'sexist,' retorts Goldman Sachs

The Apple Card credit line approvals are not 'sexist,' retorts Goldman Sachs
Hey, whaddaya know, Apple's credit card approval process can also be deemed sexist and misogynistic! In a trial-by-Twitter push since Thursday, 'family man' and Ruby on Rails creator David Heinemeier Hansson railed against the fact that he got 20 times the credit limit on the Apple Card that his wife got, even though they share the same assets. 

Some folks also chimed in, saying that their wives had higher credit scores, and still got approved for, say, a third of the limit that the husbands got.

Since the credit card approval process is managed by Goldman Sachs, the resulting viral tweet brouhaha that somehow got Apple's co-founder Steve Wozniak involved with the "I got 10x the credit limit" contribution as well, was taken to the attention of a Wall Street regulator.

Long story short, the New York State Department of Financial Services now asks anyone who may have felt slighted to email them for the investigation, and Goldman Sachs was forced to enter explanation mode with the following:



Apple itself has been listing something in the same vein on its Card support pages since the titanium contraption's inception in the summer:


In short, nothing out of the ordinary for an individual credit card approval process, which, of course, doesn't mean that there isn't a problem and an inherent bias against women applicants in the algorithms. 

Needless to say, Mr Hansson's wife credit line got jacked up immediately after the thread went viral, and it remains to be seen if Goldman Sachs, whose partnership on the Apple Card is its first foray into consumer financing, will amend its algorithm as well.

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5 Comments

2. Charlie2k

Posts: 157; Member since: Jan 11, 2016

A classic Apple "You have the wrong gender"

5. lyndon420

Posts: 6876; Member since: Jul 11, 2012

Mrs Hansson should have identified as a transgender male...

7. gaby1451

Posts: 120; Member since: Mar 30, 2011

I’m trans female. But legal documents show as m - I wonder what would happen...

4. Vancetastic

Posts: 1753; Member since: May 17, 2017

I can't think of a good way to spin this one.

6. tokuzumi

Posts: 1961; Member since: Aug 27, 2009

It's not uncommon to have different values between men and women for different things. The insurance agency is a low hanging fruit example. Life insurance policies are cheaper for women compared to men. Same with auto insurance. Credit card companies have a lot of history and statistics on demographics that are most likely to carry more credit card debt, and will attempt to minimize their risk. I don't know the results of those statistics and analysis done by CC companies, but it must have something to do with why women are being given lower credit limits compared to men counterparts with similar/same income and credit scores.

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