A Goldman credit card would’ve been part of a suite of products to help enhance the profit margins and loyalty of its retail efforts, according to people with knowledge of the matter. When it scaled back plans to become the primary bank for the masses, the rationale for a Goldman card evaporated, said one of the people.
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Goldman Sachs scraps idea for direct-to-consumer credit card after strategy shift
“We have our own credit card platform that I think is really differentiated, and we’re onboarding both other partnerships, but also have the opportunity for a proprietary card that’s in development,” Solomon said.
