In 2019, Apple made a big announcement and it didn't have anything to do with a new tablet or laptop.

Today we're introducing a brand new service

and we call it Apple card.

A credit card.

They will have lower interest rates and no penalty interest fees.

The card can be approved in minutes and begin using to pay via Apple pay immediately.

The credit card rolled out in 2019.

At the time I was actually covering the credit card sector.

That was my beat then. And thought oh wow this is a really big deal.

That's our colleague Anna Maria Andriotus. She says this credit card wasn't just a big deal for Apple. It was also a big

deal for the bank that helped create it, Goldman Sachs. Goldman is an investment bank that

caters mostly to the ultra wealthy, but a deal with

Apple gave the company a chance to win over everyday customers.

Everybody knows Apple, right? And what better way to make it clear to consumers

and your future competitors in the credit card space

that you are very serious about being a player in the credit card

sector. But their relationship was messy.

And just a few years after the two companies got together,

Anna Maria broke the news that they were splitting up.

When I heard that the partnership was moving in the direction of ending, it was difficult for me to initially believe because this partnership in many ways is still in its infancy.

And it was only last year when Goldman Sachs said we have extended our partnership with

Apple to the end of the decade. It's like falling in love really quickly and then falling out of love really quickly.

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