Apple Card could find a new home with Barclays or Synchrony What cardholders should know

It looks like Apple Card may have suitors lining up amid its public split from Goldman Sachs.

Apple is in talks with Barclays and Synchrony Financial to replace Goldman Sachs as its card issuer, according to Reuters. a report. This comes after whispers last year that Chasing It was in talks with Apple as well.

Apple’s widespread name recognition and reputation may be tempting for card issuers hoping to grow their customer base amid increasing competition from… Buy apps now and pay later.

Although the contract with Apple runs through 2030, the relationship could end soon, Goldman CEO David Solomon said during his company’s conference. Earnings call Earlier this week.

It is important to note that nothing has been finalized yet. If Apple gets a new issuer, it could mean big changes for existing cardholders.

Although it is regularly rated No. 1 for customer satisfactionAccording to JD Power surveys, the card actually lacks a lot of features that other best credit cards offer — including a competitive welcome offer, helpful additional card perks, and protection. What it offers is a name brand, a sleek user experience and 3% cash back on everything from Apple, according to our CNET credit card experts.

The ongoing relationship between Apple and Goldman Sachs has been in question recently. Goldman Sachs has withdrawn from consumer lending over the past few years amid financial losses and increased federal scrutiny. Last year, the US Consumer Financial Protection Bureau issued… Apple and Goldman Sachs fined $89 million Negligence and mismanagement.

If your Apple Card gets a new issuer, that could also mean big changes to the card Apple Card Savings Account. the High-yield savings account Currently offering a 3.90% annually It is only available to Apple Card holders.

Apple, Goldman Sachs, and Chase did not immediately respond to requests for comment. Synchroni and Barclays declined to comment.

If you currently have an Apple Card and are looking for better rewards, you can wait to see how things go with your issuing bank, or you can consider applying for a different card. The credit card that offers better rewards And the benefits.

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