3% cash back lost on my iPhone Trade-in

I purchased 4 new iPhone 18 Pro’s. I completed a trade-in on 1 of those

orders. Apple gave me $370 for my trade-in.

The charges for all 4 phones hit my Apple Mastercard. All those charges were listed as “Apple

Store” purchases. I received a 3% cashback for those purchases.

Here is where is the issue starts. The refund for my

trade-in was also posted to my Apple Card and listed as an “Apple Store” refund.

Goldman Sachs, the bank used for the Apple Mastercard, charged me 3% because they thought I had returned products to Apple THAT THEY HAD ALREADY GIVEN ME 3% cashback.

I called Goldman and Apple both offered no real help.

The real issue is how many people lost 3% on their trade-ins and don’t even realize it.

Has anyone else experienced this issue?

Recommendations?

Posted on Oct 3, 2026 10:25 AM

1 reply

Kilgore-Trout

Level 8 (43,363 points)

Oct 3, 2026 11:09 AM in response to mrthorn40

Try again with Goldman, and as to escalate the issue if you are not satisfied.

On the other hand, what you describe is pretty much what I would expect. The real purchase amount is, after all, the purchase price less the trade-in value. You want to check your contract agreement with Goldman.