from Hacker News

Goldman Sachs has lost billions on Apple Card, but it's optimistic

by domrdy on 2/28/23, 8:53 PM with 2 comments

  • by teepo on 2/28/23, 9:52 PM

    "Goldman as a 2.93% net charge-off rate, double Chase and Bank of America “Charge-offs” are typically after a customer misses payments for six months

    More than $16 billion in loan balances

    More than a quarter of Goldman’s card loans have gone to people with FICO scores below 660

    Goldman is less aggressive (and less successful) at recovering charge-off debt than other banks"