You’ll spot binding arbitration clauses in a lot of financial agreements because it helps keep banks and their business partners out of court. If you agree to binding arbitration, you can’t go to trial against a company or join a class-action lawsuit; you can only have your issue settled by a third-party mediator. If you don’t like what the mediator decides, you still have to live with it.
Not all credit cards allow you to opt out of binding arbitration, but Apple Card does. And it makes it easy for you to opt out by allowing you to do so by text message. In fact, if you have any question about using Apple Card, you can get help via text message (instead of having to use your phone like an actual phone and wait on hold).
Nick Guy shared a screenshot on Twitter to illustrate just how easy it was to opt out of arbitration for his new Apple Card:
Take a minute now to send your opt-out request, then rest easy knowing that if you end up with major beef with Apple Card, you have access to all your options for dealing with it.