Low Expectations for Apple Credit Card, Favors the Company

The new Apple credit card has garnered low expectations from the public. According to CNBC’s Jim Cramer, the public having little to no expectations about this new product will help the company rise to fame.

New and Improved Services

Apple has recently launched its streaming service that is reportedly out to compete with Netflix, states Business Insider. With the tech giant’s company slowly underwater, and with its lowest iPhone sales in years, the corporation hopes to rise with the help of their new services and offerings to the market.

According to CNBC’s Cramer, while more people paid attention to the new television streaming platform, the star of the show is undoubtedly the credit card. In partnership with Goldman Sachs, the credit card is slated to open new doors for both companies. Through their joint services, the public will gain better perks and a wider range of deals.

Meanwhile, Zach Epstein from Boy Genius Report states that while the card personally has no hold and appeal for him, there are some redeeming factors that customers might benefit from. These include individuals paying less interest as well as urging individuals to see the real cost of their purchases with interest.

Joint Venture

According to CNBC, Goldman Sachs will be shouldering most of the venture’s expenses and risks. With Goldman Sachs’ desire to branch out and widen its horizons, it is looking to do what American Express achieved in its lifetime. A small change that the bank wants to do is charge higher fees, particularly with the exclusive perks and access the Apple Card can give its users.

On the other hand, CNBC’s Cramer states that Apple has found a gold mine in this partnership, especially with the bank at the helm. If the project is successful, Cramer reports that this could provide ample recovery from Apple’s devastating profit loss in the last quarter of 2018.