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Goldman Sachs gave $10B in credit to Apple Card users

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Apple Card users received $10 billion in credit from Goldman Sachs

Goldman Sachs gave approximately $10 billion in credit to Apple Card users just over one month after the card's full US launch.

Cardholders had $736 million in loan balances at the end of September, suggesting Apple Card has been fairly popular in its nascent stage.

The card's early credit loan performance is still a far cry from those of top banks, however, though those firms have large portfolios of cards to consider.

But Apple's and Goldman Sachs' reported move of approving subprime users for Apple Card could cause its lending numbers to climb quickly and help it compete with comparable credit cards.

Business Insider Intelligence's Daniel Keyes has the full story.

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