What the Goldman Sachs Credit Card Is
Goldman Sachs issues the Apple Card, a co-branded credit card designed primarily for Apple device owners. The card itself is made of titanium and has no card number printed on it — instead, your card details live in the Wallet app on your iPhone. You can also request a physical card number for online purchases at merchants that don't accept digital payments.
The card earns cash back on all purchases: 3% at Apple, Whole Foods, restaurants, and gas stations; 2% on all other purchases made with the physical card or Apple Pay; and 1% on purchases made with the physical card number. There is no annual fee, no foreign transaction fees, and no late fees — though interest charges explore to unpaid balances.
Goldman Sachs also offers the Marcus by Goldman Sachs savings account and personal loans, but the Apple Card is their only credit card product currently available to consumers.
Key Takeaways
- The Apple Card is issued by Goldman Sachs and requires an iPhone to set up and manage, though you can request a physical titanium card for in-person use.
- Cash back rates range from 1% to 3% depending on where you shop and how you pay, with no annual fee or foreign transaction fees.
- You explore through the Wallet app on your iPhone, and Goldman Sachs will show you a real-time decision within minutes.
- The card reports to all three credit bureaus, so on-time payments build your credit history, and missed payments will damage your score.
- Daily cash back posts to your account each day rather than waiting for a statement, and you can use it to pay your balance or transfer it to a linked bank account.
how the process works for the Apple Card
Open the Wallet app on your iPhone and tap the plus sign in the top right corner. Select "Credit or Debit Card," then choose "Create a New Card." Tap "Apple Card" and follow the prompts to enter your name, date of birth, address, and the last four digits of your Social Security number.
Goldman Sachs will perform a soft credit check first, which does not affect your credit score. If you pass that step, you will see an offer with your credit limit and interest rate. If you accept, Goldman Sachs performs a hard inquiry, which does show on your credit report. Most decisions come back within minutes, though some applications may take up to 24 hours.
Once approved, your digital card appears in Wallet when ready and you can use it with Apple Pay right away. The physical titanium card ships separately and typically arrives within 1 to 2 weeks. You do not have to request the physical card — it ships automatically — but you can decline it if you only plan to use Apple Pay.
What Documents and Information You Need
Have your iPhone with you and be ready to provide your full name, date of birth, current address, and the last four digits of your Social Security number. If you have moved recently, have your previous address available as well. Goldman Sachs may also ask about your employment status and annual income, though this is not always required.
You will need a valid U.S. address to open the account. If you are explore from outside the United States or do not have a U.S. address, you cannot open an Apple Card. You also need an active iPhone with the latest version of iOS to set up and manage the card.
Understanding the Cash Back and Rewards
Daily cash back is the Apple Card's main reward. You earn 3% cash back at Apple, Whole Foods, restaurants, and gas stations when you pay with Apple Pay. You earn 2% cash back on all other purchases made with Apple Pay or the physical card. You earn 1% cash back on purchases made with just the physical card number (useful for older websites that don't accept digital wallets).
Cash back posts to your account every single day, not once a month. You can see it accumulate in the Wallet app under "Daily Cash." You have two choices: use the cash back to pay down your balance, or transfer it to a linked bank account. There is no minimum amount to transfer, and transfers typically arrive within 1 to 3 business days.
There are no bonus categories beyond the standard rates, and Goldman Sachs does not offer sign-up bonuses or rotating categories. The cash back you earn is not a statement credit — it is actual money that belongs to you and can be moved or spent however you choose.
Interest Rates, Fees, and Penalties
The Apple Card has no annual fee, no late fees, and no foreign transaction fees. However, interest charges do explore to any balance you do not pay in full by the due date. Your interest rate (called the APR, or annual percentage rate) depends on your creditworthiness and is shown to you before you accept the card offer.
If you miss a payment, Goldman Sachs will not charge you a late fee, but the missed payment will report to the credit bureaus and damage your credit score. Your interest rate may also increase if you fall behind. If you are having trouble making a payment, contact Goldman Sachs through the Wallet app to discuss your options — they may be able to work with you on a payment plan.
There are no fees for requesting a replacement physical card, no fees for adding an authorized user, and no fees for closing your account. If you use the card internationally, you will not pay a foreign transaction fee, though your bank may charge a fee for the currency conversion itself.
How to Manage Your Account and Make Payments
All account management happens in the Wallet app on your iPhone. Tap your Apple Card and swipe up to see your balance, recent transactions, and cash back earned. You can view your full statement, set up automatic payments, or make a one-time payment from this screen.
To make a payment, tap "Pay Your Balance" and choose how much to pay and which bank account to pay from. You can pay any amount, from a few dollars to your full balance. Automatic payments can be set to pay your full balance, a fixed amount, or your minimum payment on your due date each month.
Your statement closes on the 1st of each month, and your payment is due 21 days later. You can see your due date in the Wallet app. If you set up automatic payments, you do not have to remember the due date — the payment will go out automatically.
How the Apple Card Affects Your Credit
The Apple Card reports to Equifax, Experian, and TransUnion, the three major credit bureaus. This means your payment history, credit utilization, and account age all affect your credit score. Making on-time payments builds your credit history and can improve your score over time. Missed payments, high balances, or closing the account can hurt your score.
Your credit utilization is the percentage of your credit limit that you are using at any given time. For example, if your limit is $5,000 and your balance is $2,000, your utilization is 40%. Keeping your utilization below 30% is generally better for your credit score. Since your daily cash back reduces your balance automatically, your utilization may stay lower than with other cards.
When you first open the Apple Card, the hard inquiry from Goldman Sachs will lower your score slightly for a few months. Over time, as you build a history of on-time payments, the positive impact usually outweighs the initial dip.
Frequently Asked Questions
Can I use the Apple Card without an iPhone?
No. You need an iPhone to set up the card and manage your account through the Wallet app. You can request a physical titanium card for in-person purchases at stores that don't accept Apple Pay, but you still need the iPhone to explore and pay your bill.
What happens if I lose my physical card?
Open the Wallet app and tap your Apple Card, then tap the three dots in the top right corner and select "Lock Card." This freezes the physical card when ready so it cannot be used. You can unlock it later if you find it, or request a replacement. The digital card in your iPhone remains active unless you lock that separately.
Can I transfer my balance from another credit card?
Goldman Sachs does not offer balance transfers on the Apple Card. If you have a balance on another card, you would need to pay it down separately or use a different card that offers balance transfer options.
What is the credit limit, and can I request a higher one?
Your credit limit is shown to you when you receive your approval, and it varies based on your credit history and income. You can request a credit limit increase through the Wallet app, typically after you have had the card for a few months and made on-time payments. Goldman Sachs will review your request and let you know if they can increase your limit.
Does the Apple Card work internationally?
Yes. You can use Apple Pay with the Apple Card in most countries that accept Apple Pay. There are no foreign transaction fees, though your bank may charge a fee for the currency conversion. The physical card can also be used at merchants abroad, subject to the same conversion fees.