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Apple co-founder bashes credit card

Video Credit: Reuters Studio - Duration: 01:14s - Published
Apple co-founder bashes credit card

Apple co-founder bashes credit card

Apple co-founder Steve Wozniak says Apple's new credit card gave him 10 times the credit limit his wife received even though they do not hold separate assets or bank or credit accounts.

Fred Katayama reports.

Apple"s new credit card has been hit with charges of sexism, and now compliants are coming from the company"s co-founder.

Steve Wozniak says he got 10 times the credit limit his wife received even though they do not hold separate assets or bank or credit accounts.

The criticism behind the iPhone maker's credit card began Thursday, when entrepreneur David Heinemeier Hansson tweeted that the card gave him 20 times more credit than his wife had received.

Apple launched its highly anticipated titanium credit card in August in partnership with Goldman Sachs.

Apple didn't respond to a Reuters request for comment.

But Goldman said card applicants were independently evaluated according to income and creditworthiness.

The investment bank said it took into account factors such as personal credit scores and personal debt but insisted it hasn't and will not "make decisions based on factors like gender." Now, regulators are looking into the charges.

New York's Department of Financial Services said it's starting an inquiry into Goldman's credit card practices.

Its superintendent says the law bars algorithms from discriminating against protected classes of individuals.

Goldman Sachs shares fell roughly 1% in early trading Monday; Apple shares were flat.




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