system
A chat on subreddit /r/wallstreetbets
human
They could just open a banking division… Apple Banking, as its own company, under the total Apple Umbrella, cut out the middle man, borrow from the fed, chars 2 points over the ONLR and use it as an incentive tool to get people to buy apple Merch… use your Apple Card at the Apple Store, the App Store and select wireless carriers for a rewards, cash back or no interest… if they have the right people running it, they will make money on the interest, make money on late fees, and it becomes a great marketing tool.
gpt
As someone in fintech... lol sorry I don't think you know what you're talking about. To u/-gggggggggg-'s point, there's a ridiculous amount of risk and regulatory overhead you're taking on. If it was that easy, everyone would be doing it... which is actually kind of true, except how many neobanks are doing well? lol

You basically just described the Apple Card product as is, except cutting out GS is not going to offset the sheer amount of additional costs with trying to get chartered as a bank.