Apple Card issuer Goldman Sachs ranks first in credit card satisfaction survey

Goldman Sachs, Apple's financial partner and issuer of the Apple Card, has ranked first in customer satisfaction in a J.D. Power survey for the second year in a row.

Among midsize issuers, Goldman Sachs topped the charts with a customer satisfaction rating of 843 in the J.D. Power U.S. Credit Card Satisfaction Study, Apple touted in a press release on Thursday. Goldman Sachs also ranked first in 2021 in the same survey.

Importantly, the Apple Card is the only Goldman Sachs consumer credit card product besides a co-branded card with General Motors. As such, customer satisfaction ratings are likely heavily influenced by consumer experience with the Apple Card.

Goldman Sachs also ranked highly in all categories included in the survey, such as credit card terms, communication, benefits and services, rewards, key moments, and interaction.

"Enhancing our customers' lives is at the heart of what we do, so we are honored to have Apple Card and issuer Goldman Sachs recognized again this year for customer satisfaction," said Jennifer Bailey, Apple's Vice President of Apple Pay and Apple Wallet.

First introduced in 2019, the Apple Card is a digital-focused credit card accessible through the Wallet app. It has several unique perks, including an easy sign-up process, the lack of fees, and daily cash back. Users also get a titanium physical credit card in addition to the instantly accessible digital version.

Apple has been steadily increasing its footprint in the financial services space in recent years. At WWDC 2022, it introduced a new "buy now, pay later" service built into Apple Pay. It's also said to be working on its own suite of financial services — including everything from payment processing to fraud analysis.

The Apple Card and Goldman Sachs have not been without controversy, however. Goldman Sachs was accused of gender discrimination in its credit calculations shortly after launch, but was later cleared of wrongdoing. Earlier in August, it was also revealed that Goldman Sachs is under investigation for its consumer credit card practices.

13 Comments

beowulfschmidt 12 Years · 2361 comments

About 2 years ago

The fact that people don't associate the card with GS, but rather with Apple, is probably like 99% of the reason for the satisfaction level being as high as it is.

jeff fields 12 Years · 161 comments

beowulfschmidt said:

The fact that people don't associate the card with GS, but rather with Apple, is probably like 99% of the reason for the satisfaction level being as high as it is.

That's nonsense, and you're obviously not an Apple Card user. The high customer sat rating is because, duh, customers are satisfied. They're satisfied because the entire experience is so great. No fees of any kind, not even late fees, great service, a premium app to manage the card, the card itself is physically gorgeous, no constant spam emails or promotions. It's perfection. That's why the rating is high.

badmonk 11 Years · 1336 comments

beowulfschmidt said:

The fact that people don't associate the card with GS, but rather with Apple, is probably like 99% of the reason for the satisfaction level being as high as it is.

I have to agree with BeoW here Jeff. The Apple Card is great because of Apple not GS, wait until you have to dispute or ask for reimbursement of a charge. I had an item stolen (or rather mis-delivered) by the USPS. Despite providing extensive documentation of the event to GS, my charge was not refunded. This surprised me as my Amazon Card has done this for me in the past with internet fraud.

larryjw 9 Years · 1036 comments

badmonk said:

beowulfschmidt said:

The fact that people don't associate the card with GS, but rather with Apple, is probably like 99% of the reason for the satisfaction level being as high as it is.

I have to agree with BeoW here Jeff. The Apple Card is great because of Apple not GS, wait until you have to dispute or ask for reimbursement of a charge. I had an item stolen (or rather mis-delivered) by the USPS. Despite providing extensive documentation of the event to GS, my charge was not refunded. This surprised me as my Amazon Card has done this for me in the past with internet fraud.

I'll agree here. GS might be the institution handling the Apple Card transactions, but they have a contract with Apple which binds them to do certain things and prevents them from doing other things.

MplsP 8 Years · 4047 comments

jeff fields said:

beowulfschmidt said:

The fact that people don't associate the card with GS, but rather with Apple, is probably like 99% of the reason for the satisfaction level being as high as it is.

That's nonsense, and you're obviously not an Apple Card user. The high customer sat rating is because, duh, customers are satisfied. They're satisfied because the entire experience is so great. No fees of any kind, not even late fees, great service, a premium app to manage the card, the card itself is physically gorgeous, no constant spam emails or promotions. It's perfection. That's why the rating is high.

There was just a story a few weeks ago talking about the problems GS has been experiencing with customer service due to Apple Card growth.

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