Apple Card may be exclusive to the U.S. for now, but Goldman Sachs hints that won’t always be the case.
Apple’s partner says it will be looking at plans to bring Apple Card to other markets in the future. Goldman CEO Richard Gnodde expects the card to take off quickly over the summer.
With 3 percent cash back on Apple purchases, and 2 percent cash back on anything else you buy with Apple Pay, the Apple Card looks incredibly appealing to any iPhone user. But unless you live in the U.S., you won’t be able to get yours hands on it this summer.
Goldman hopes that will change later on.
Apple Card may not be exclusive to the U.S. forever
“With that product [Apple Card] we are going to start in the U.S. but over time, absolutely, we will be thinking of international opportunities for it,” Gnodde told CNBC. “We will launch through the summer and we do think it will catch on quickly.”
Apple Card is just one of Goldman’s international pursuits that it hopes will expand its client base. Its online retail bank, Marcus, rolled out in the U.K. last year and has already attracted over 200,000 clients and $10 billion in deposits.
Marcus’ next stop is Germany, but Gnodde says Goldman has “some time to spend” in the U.K. before another rollout.
Apple Card wants to change credit
Daily cash rewards aren’t the only thing that make Apple Card a refreshing alternative. It also makes it incredibly easy to see where your money is going, and encourages you to pay less interest.
And because it’s an Apple product, you get all the protections you would expect and more — including real-time fraud prevention and advanced security technologies.
Apple also promises that it won’t watch what you spend your money on.