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Written by: RJ
Mac Rumors and WSJ are reporting that Goldman Sachs could be looking to move their credit card portfolio. The headliner is the Apple Card. Goldman also has the GM cards. This would come as part of an initiative to scale back the consumer banking line. Right now to my knowledge that includes the card portfolio and Marcus savings account.
Goldman and American Express seem to be in early talks. No deal is in place, nor does one seem to be close to coming together. Goldman and Apple have extended their partnership through 2030.
Thoughts
This would be an interesting move. Goldman has tried a few times to get the consumer division up and running but it doesn’t seem to be working. I do wonder how an American Express/Apple partnership would go. Two powerful companies who can benefit from the venture, but don’t exactly need each other.
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