RT @geoffreyfowler: As someone who got — and recommended — the Apple Card largely for its privacy practices, Apple changing its data policy now feels like a bait and switch.
“Aggregate and anonymized” still mean my life is feeding Goldman Sachs.
I think the statement is pretty vague. It could definitely be interpreted to support that point, but it could easily mean many other things.
When OP says "creation of a new credit assignment model which could expand the group of users that may be able to secure credit", I read that as trying to lower standards to increase approvals. Well, maybe not standards per se, but creating other metrics to measure as a means of extending credit rather than the traditional metrics.
**Edit: I misread your comment. I guess the only benefit to not opting out would be that you don’t have to send an email.**
Opting out will result in less of your data being shared by Apple to Goldman Sachs.
This article does say that the data is aggregate and anonymized, so your specific data may not be able to be attributed to you, but it’s still your data at the end of the day. To each their own.
Originally posted the MacRumors link, but TechCrunch has far more detail. Three main points are discussed in the article:
There is also a beefed up fallback method in the works that will allow users to share more personal data on an opt-in basis with Goldman Sachs if you do not at first get approved. Things like purchase history of Apple products, when you created your Apple ID and how much you spend with Apple. This has always existed and you may have seen it if the default modeling rejected your Apple Card application — but it may have a few more data points after the new modeling. It will still very clearly opt-in with a large share button as it is now.
Apple is also finally adding detail to its internal transactions. You no longer have to wonder what that random charge labeled Apple Services is for, you’ll get detail on the Hillary Duff box set or Gambino album you purchased right in the list inside Wallet.
It should be noted that users can opt out by emailing email@example.com with the subject line “Apple Relationship Data and Apple Card.”