When it comes to deciding on how much of a credit card limit one person should have, it is largely based on their earnings and pre-existing loans, where it won’t be too high where it would make repayments of the card impossible. That, in theory, should be what credit limits should be based on, right?
However, it seems that the Apple Card is being accused of gender discrimination or gender bias, where there have been multiple reports of men somehow getting a much higher credit limit compared to women. This has led to the New York Department of Financial Services launching an investigation into Goldman Sachs (Apple Card’s issuing bank) and the algorithms used in determining the credit card limit for the Apple Card.
In several examples of alleged gender bias, David Heinemeir Hansson wrote on Twitter about how his Apple Card limit is 20 times higher than his wife, despite the fact that they both file joint tax returns, and how his wife also has a better credit score, which in theory should give her a higher credit limit.
Apple co-founder Steve Wozniak also shared a similar experience where despite not having separate bank or credit card accounts, his credit limit was also 10 times higher than that of his wife.