Mark Gurman:

The debut of the new American Express Platinum Card had me thinking a lot about the Apple Card, the Goldman Sachs Group Inc. collaboration that came out nearly two years ago. So far, it doesn’t appear that the card has made much headway: It’s still U.S.-only, the rewards are mediocre, and the revenue impact for Apple Inc. doesn’t seem significant.

And:

I think what the product needs is an Apple Card+: a product to target the high-end market dominated by the Platinum and Chase Sapphire Reserve. Those cards charge $550 to $695 a year, prices that aren’t out of reach for the sorts of Apple consumers who regularly spring for the Pro models or Hermès watch bands.

Two thoughtful points here: Apple Card has not reached its potential. In the discussion of credit cards, it’s not on the shortlist, other than for Apple related purchases, where the 3% cash back is worth considering (to me, it’s a no-brainer), especially given the lack of an annual fee.

And second, take a look through Mark’s list of imagined perks for an Apple Card+. I do think Apple could compete against the American Express Platinum Card, the gold…er…platinum standard for business folk. Apple can use its ecosystem to sweeten the pot, draw users, in ways American Express cannot.