Everything you need to know about the joint credit card from Apple and Goldman Sachs
Apple AAPL, +0.06% and Goldman Sachs GS, +0.13% are expected to launch a joint credit card later this year that is designed to be used in concert with the iPhone and Apple Pay. The card, which will be Goldman’s first, will help the two companies meet major goals. Apple will diversify its revenue base through the swipe fees it will earn, while for Goldman, the credit card fits neatly into the investment bank’s push into consumer-facing financial services.
“If consumers can’t consistently use a tool, they tend not to want to use it,” said Thad Peterson, a senior analyst at The Aite Group, a consultancy. Read more: So the Fed left interest rates unchanged, but what does that mean for you? When it comes to rewards, this card won’t be a game-changer Cardholders will earn 2% cash back on most purchases and potentially more on Apple-related products and services, the Journal reported.
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