Apple explores new issuer options for Apple Card as Goldman Sachs faces challenges

Apple is in discussions with Barclays and Synchrony Financial to replace Goldman Sachs as the issuer of the Apple Card. This follows previous talks with Chase. The current contract with Goldman Sachs runs until 2030, but an early termination is possible. Goldman Sachs has faced challenges in consumer lending, leading to questions about its relationship with Apple. The Apple Card has been criticized for lacking features compared to other credit cards, despite high customer satisfaction ratings. If a new issuer is selected, it may bring changes to the Apple Card and its associated savings account, which currently offers a 3.90% annual percentage yield. No final decisions have been made yet.