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Apple and Goldman combining to issue CC

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Apple and Goldman combining to issue CC

Apple and Goldman plan credit card that pairs with iPhone features: WSJ

Feb. 21, 2019 7:17 AM ET|About: Apple Inc. (AAPL)|By: Liz Kiesche, SA News Editor 

This spring, Apple (NASDAQ:AAPL) and Goldman Sachs (NYSE:GS) plan to issue a joint credit card paired with new iPhone features that will help users manage their money, the Wall Street Journal reports, citing people familiar with the matter.

Employees will be the first to use the product on a test basis for the next few weeks with a general launch expected later this year.

It's part of push by Apple to focus on fee-generating services and it continues Goldman's campaign to appeal to rank-and-file consumers.




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10 REPLIES 10
Frequent Contributor

Re: Apple and Goldman combining to issue CC

Still wouldn't use it for itunes. I wait for itunes gift cards to go on sale at costco, $100 worth for about $85. Plus 2% back from my costco visa, and 2% back from my executive membership.

Message 2 of 11
Moderator Emeritus

Re: Apple and Goldman combining to issue CC

Paywall but how are they going to generate revenue from this?

 

Incidently tons of free money management and education apps exist these days.




        
Message 3 of 11
Established Contributor

Re: Apple Rewards Card/Goldman Sachs?

Still wondering what will become of the Barclays Apple Rewards Card? I purposely left $1k on my card when I moved the limit to Uber in hopes that the portfolio would transfer to Goldman.


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Message 4 of 11
Contributor

Re: Apple and Goldman combining to issue CC

Per board rules I cant print entire article but....

 

here is an excerpt...

 

"Users will earn 2 percent cash back on purchases and possibly more on Apple products and services, the newspaper wrote. It will run on the Mastercard network."




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Super Contributor

Apple and Goldman Sachs to launch new card

No details so far, and it seems limited to iPhone (Apple Pay) folks. But FYI.

 

https://www.cnn.com/2019/02/21/tech/apple-goldman-credit-card/index.html

Message 6 of 11
Community Leader
Valued Contributor

Re: Apple and Goldman combining to issue CC

Interesting. I recently dumped my Apple Barclaycard. As much as I love Apple, the rewards weren’t enough. If this card offers legitimate cash back instead of gift card points, I would definitely consider applying. Can’t wait to hear more about this...
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Super Contributor

Re: Apple and Goldman combining to issue CC

2% back on everything would be great but Apple’s partnership with Amazon has already opened the door to massive discounts on Apple products with the Amazon Prime Store Card and Chase Amazon Rewards VS cards.

 

The only exception to this right now is iPhones (unless you have Simple Mobile or you buy a refurbished one on Amazon) - every other Apple product you can take 5% off the top and with the Sync card you can finance for 6-24 months with 0% deferred interest. 

 

You will also be dealing with growing pains since Goldman has no experience with credit cards. There is potential for Barclays-style AA behavior here. 

 

I definitely wouldn’t want to be a guinea pig during the early days of this program unless the rewards are incredible enough to warrant it (like free AppleCare+ for any product purchased with the card, that would get me to go for it but wouldn’t happen without an AF cutting into the value proposition). 



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Message 8 of 11
Moderator Emeritus

Re: Apple and Goldman combining to issue CC

There also have been some fairly absurd Apple offers in the Chase portal too: think I got 10% back on my MBP in December and that didn’t include the 1.5 UR (equal to 2.25 in my normal redemption pattern for flights up to SF).

I guess I still don’t see 2% as being all that useful, still have my Fido card even that gets that rate anywhere not just Apple.



        
Message 9 of 11
Community Leader
Valued Contributor

Re: Apple and Goldman combining to issue CC


@Saeren wrote:

2% back on everything would be great but Apple’s partnership with Amazon has already opened the door to massive discounts on Apple products with the Amazon Prime Store Card and Chase Amazon Rewards VS cards.

 

The only exception to this right now is iPhones (unless you have Simple Mobile or you buy a refurbished one on Amazon) - every other Apple product you can take 5% off the top and with the Sync card you can finance for 6-24 months with 0% deferred interest. 

 

You will also be dealing with growing pains since Goldman has no experience with credit cards. There is potential for Barclays-style AA behavior here. 

 

I definitely wouldn’t want to be a guinea pig during the early days of this program unless the rewards are incredible enough to warrant it (like free AppleCare+ for any product purchased with the card, that would get me to go for it but wouldn’t happen without an AF cutting into the value proposition). 


That’s where we’re different lol.  When it comes to Apple products, I will ALWAYS be a guinea pig. If this card has 2% plus more on Apple products, I will be apping immediately. PLEASE HELP ME GARDEN UNTIL IT COMES OUT lolol

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