Originally Posted by
lax01
Complexity and cost to cutover on a low margin product? I don't know...
This happens periodically. Citi bought the Costco portfolio from American Express, and then American Express bought Hilton accounts from Citi. Several issuers have operated the General Motors card. Barclays took accounts from Bank of America when US Airways merged with America West.
If Goldman wants to exit the card business there would not be an option to convert the Apple card to another Goldman product, only to accept the American Express version or close.