Apple and Goldman Sachs are launching a credit card

Apple and Goldman Sachs Group Inc. are preparing to launch a new joint credit card under the Apple Pay brand, replacing its reward partnership it is currently in with Barclays, reports the Wall Street Journal.

The big picture: Apple is right on the cusp of becoming a trillion-dollar company, and this move will push it closer to that threshold. The partnership will make Apple product easier to purchase with in-store loans available through Goldman Sachs. [Go deeper with Apple's march to $1 trillion.]

The first sentence, second paragraph corrected to say Apple is on the cusp of becoming a trillion-dollar company, not the world's first.