Frankly I'm just confused why Goldman ever agreed to this in the first place. No fees on the card, no cut of interchange fees, where did they think they were going to make that up? I guess maybe borrow cheap to front people and then let those people carry a balance, which doesn't work so well with higher rates. And even then, I kinda doubt the people who are so into the Apple ecosystem that they get the credit card are going to be carrying balances often and large enough to make that math work out.