in 2019. The collaboration between both entities gave birth to a new credit card, Apple Card, which promoted features such as daily cashback, no fees and tightened privacy and security. Also, in April of this year, both companies released a high-yield savings account, offering a 4.15% APY., both Apple Card and the Apple Savings accounts are underperforming, and Goldman Sachs executives are itching to axe the bank’s partnership with Apple.
Shortly after the rollout of Apple Card in August 2019, Goldman Sachs and Apple applauded its progress. Months after it was released, Goldman Sachs CEO David Solomon told investors inafter the card's rollout, Apple Card also ranked No. 1 in the U.S. Credit Card Satisfaction Study by J.D. Power.
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