According to a novel theme in theWall Street Journal , Apple has request to terminate its partnership with Goldman Sachs on all consumer - facing fiscal services . That meansApple Cardand the newerApple Card Savingsaccounts . The article quote “ mass brief on the affair ” in saying that Apple has sent a proposition to Goldman to cease the partnership within the next 12 - 15 month .
If you ’re wondering where that leaves customers with an Apple Card or Apple Card Savings story , nobody really bonk . Typically , another credit card issuer would come in and take over the partnership . The WSJ allege it does not have sex if Apple has anyone else in brain , but that American Express was approached last class by Goldman about taking over the business . AMEX was obviously concerned about a number of point , and it ’s not known if those talks retain or not . Synchrony Financial , the largest issuer of brand store recognition calling card in the U.S. , has reportedly shown interest as well .
Apple has also dabble in the financial sector itself , most recently withApple Pay Later , which splits purchase into four equal payments over four week . That Robert William Service is plunk for by an Apple foot soldier call Apple Financing LLC .
The Apple Card has been a drain on Goldman Sachs , which was trying to build out its consumer footmark . The Apple Card has fewer fee than traditional deferred payment cards and Apple reportedly push for “ most all applier to get approved , ” concord to the Journal .
Obviously , your Apple Card is not fail to at once bar working one day without plenteous warning , nor will you be unable to pay your bill , ensue in loss of quotation rating . There are regulations about this sort of thing . But it is possible that within the next year or two the benefits , rates , and rewards for Apple Card could shift .
