Old Feb 21, 19, 10:03 pm
  #1  
dangw20
 
Join Date: Jan 2013
Posts: 412
Apple and Goldman Sachs to partner on new credit card

The Wall Street Journal reported on a new credit card that Apple and Goldman Sachs plan to offer later this year. Didn't see anything posted on Flyertalk yet.

https://www.wsj.com/articles/apple-g...ne-11550750400

Not sure how popular it will be with people on this forum based on this section:
"The Apple Pay card will use Mastercard Inc.ís payment network, which is the second-largest in the U.S. after Visa Inc., some of the people said. Cardholders will earn cash back of about 2% on most purchases and potentially more on Apple gadgets and services, some of the people said.

Banks including JPMorgan Chase & Co. have spent heavily to lure cardholders with travel points, airport lounge access and other generous perks. Neither Apple nor Goldman is eager to join that race, people familiar with the project have said. Instead, the companies are betting that Apple customers will use the card because it is better integrated into the iPhone."

Let's wait and see when the official details are announced. 2% isn't bad but with several cards offering that now, that alone won't be reason for people to switch to this card. One positive is that it is offered by Goldman Sachs so it's an opportunity to diversify your credit card portfolio. However if it is offering 2% or less cashback with no bonus categories it will not bring anything new to the mile and points game. Not sure if the 'integration into the iPhone' will outweigh the average/below average.
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