Apple and Goldman Join Forces to Launch Credit Card for iPhones

The video discusses the features of the Apple Pay card, highlighting its 2% cash back on all purchases and additional 3% on Apple products. The card is technology-first, issued digitally, with a physical titanium option available upon request. Goldman Sachs, entering consumer finance, aims to target a broader market with this card. Despite expectations of a premium offering, the card is comparable to existing 2% cash back cards from Citi and PayPal, indicating a strategic choice by Apple and Goldman not to focus on high-end rewards.

What is the unique feature of the Apple Pay card compared to traditional credit cards?

• It offers 5% cash back on all purchases.

• It has a card number and expiration date printed on it.

• It is issued as a physical card by default.

• It is primarily a digital card with an optional physical version.

Why is Goldman Sachs interested in launching a credit card with Apple?

• To replace their existing personal loan services.

• To expand their presence in the consumer finance sector.

• To focus solely on affluent premium customers.

• To offer the highest cash back rate in the market.

What type of customer is the Apple Pay card primarily targeting?

• Customers who prefer points and travel rewards.

• Affluent customers looking for premium services.

• Customers who frequently use personal loans.

• Customers interested in cash back rewards.

How does the Apple Pay card compare to other cards in the market?

• It offers the highest cash back rate available.

• It is the only card with no physical version.

• It is the most premium card available.

• It is similar to other 2% cash back cards.

Which companies already offer a 2% cash back card similar to Apple Pay's?

• Visa and MasterCard

• Citi and PayPal

• American Express and Discover

• Chase and Bank of America