Apple is updating its privacy policy for the Apple Card because it wants to share more anonymized data with Goldman Sachs, the financial partner that backs the card. Apple plans to share additional data with Goldman Sachs for improving how credit is assigned to new customers.
According to TechCrunch, data that is collected is aggregated and anonymized, and there is an opt-out option for new customers.
Apple says that sharing more data could expand the kind of user that is able to apply for an Apple Card. For those who apply and are not approved, there's also a new option to share more personal data with Goldman Sachs, such as purchase history of Apple products. The new wording of the privacy policy is below:
"You may be eligible for certain Apple Card programs provided by Goldman Sachs based on the information provided as part of your application. Apple may know whether you receive the invitation to participate and whether you accept or decline the invitation, and may share that information with Goldman Sachs to effectuate the program. Apple will not know additional details about your participation in the program.
Apple may use information about your account with Apple, such as the fact that you have Apple Card, for internal research and analytics purposes, such as financial forecasting. Apple may also use information about your relationship with Apple, such as what Apple products you have purchased, how long you have had your Apple ID, and how often you transact with Apple, to improve Apple Card by helping to identify Apple metrics that may assist Goldman Sachs in improving credit decisioning. No personally identifiable information about your relationship with Apple will be shared with Goldman Sachs to identify the relevant Apple metrics. You can opt out of this use or your Apple relationship information by emailing our privacy team at dpo@apple.com with the subject line "Apple Relationship Data and Apple Card."
Applicants and cardholders may be able to choose to share the identified metrics with Goldman Sachs for re-evaluation of their offer of credit or to increase their credit line. Apple may share information about your relationship with Apple with our service providers, who are obligated to handle the information consistent with this notice and Apple instructions, are required to use reasonable security measures to protect any personal information received, and must delete the personal information as soon as they have completed the services."
Along with these privacy policy changes, Apple is introducing more detail to internal transactions. There will be no more ambiguity about charges that are labeled Apple Services, and it will now more clearly state exactly what has been purchased.
Apple's privacy policy changes are included in iOS 13.4, but the option to share data will not roll out immediately for new Apple Card users and will appear later.
