Apple is rolling out a slew of services, including a titanium, numberless credit card. Apple Card has no annual fee and offers 2 percent cash back on purchases made through Apple Pay. “It creates a moat against customer churn, or changing to another phone platform.”A high-tech credit card fits with Apple’s techy customer base, Feinseth said. This will be Goldman’s first credit card and could help the bank insert itself into the lives of Apple customers, analysts have said. But Purk said that people who have late fees or penalty interest rates aren’t necessarily the kinds of customers credit card companies ought to target.

Source: Washington Post March 26, 2019 14:30 UTC