Apple Rewards Card/Goldman Sachs?

[pinkandgrey]

I just heard that the Apple Card from Barclays may be moving over to Goldman next year. Is this true? Any additional information about this? I wonder what will happen to existing Barclays cardholders....

[gdale6]

https://www.bloomberg.com/news/articles/2018-05-10/apple-is-said-to-pick-goldman-sachs-to-issue-rewa...

[pinkandgrey]

Okay so this has been in the works for awhile now... I wonder if the rewards structure will change and if existing cardholders will stay with Barclays...

[FinStar]

Until an official announcement is made, things seem to be business as usual for Barclays and the Apple CC.

Just as with previous announcements, the cited article offered nothing in the sense of a portfolio acquisition only that GS is launching a new Apple CC product in 2019.

[vV35Hszm]

I’m hoping this will be a lot more than the Barclays product was.

[RehabbingANDBlabbing]

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@vV35Hszm wrote:
I’m hoping this will be a lot more than the Barclays product was.

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Totally agree. My husband got this card a couple of years ago to finance a laptop. The intro APR was good, but the ongoing one was 28%! And the rewards really aren't great.

[vV35Hszm]

I think it will be deeply tied to Apple Pay.

[RehabbingANDBlabbing]

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@vV35Hszm wrote:
I think it will be deeply tied to Apple Pay.

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Interestingly, I saw some card (I thinkg it may have been Wells Fargo Cash Wise) that was offering a higher rate of rewards (1.8% cash back versus 1.5% for regular swipes) for using Apple Pay during the first 6 months of having the card. I wonder if Apple if offering a discount on processing fees compared to the traditional way payments are processed.

[vV35Hszm]

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@FinStar wrote:
Until an official announcement is made, things seem to be business as usual for Barclays and the Apple CC.

Just as with previous announcements, the cited article offered nothing in the sense of a portfolio acquisition only that GS is launching a new Apple CC product in 2019.

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Yes - it sounds like a credit card product as opposd to a store line of credit.

[Andypanda]

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@RehabbingANDBlabbing wrote:

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@vV35Hszm wrote:
I think it will be deeply tied to Apple Pay.

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Interestingly, I saw some card (I thinkg it may have been Wells Fargo Cash Wise) that was offering a higher rate of rewards (1.8% cash back versus 1.5% for regular swipes) for using Apple Pay during the first 6 months of having the card. I wonder if Apple if offering a discount on processing fees compared to the traditional way payments are processed.

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It’s actually the first 12 months.