US EditionApple Card switches hands but no immediate changes for users
JPMorgan will take over issuing the Apple Card, maintaining key features like 3% cash back and Mastercard network access, adding over $20 billion in card balances.
- Apple announced on Wednesday that JPMorgan Chase will issue the Apple Card, and Apple said cards can be used as normal while the deal closes in about 2 years.
- Goldman Sachs has overseen the Apple Card since its 2019 launch and has been in talks to unload it as it moves away from consumer products.
- Apple said features including 3% cash back and the high-yield savings account will remain, and Mastercard will continue as the payment network for Apple Card users.
- JPMorgan said taking over the card will bring in more than $20 billion in estimated card balances, solidifying its dominance as the top issuer based on over $1.344 trillion in 2024 purchase volume, according to The Nilson Report.
- Goldman Sachs projects a 46 cents per share boost to 2025 fourth-quarter earnings, including a $2.48 billion reserve release partly offset by $2.26 billion revenue reduction and $38 million expenses, while Apple said it will update cardholders as the transition nears.
8 Articles
8 Articles
Apple stock slips after Apple Card moves to JPMorgan from Goldman — what investors watch next
NEW YORK, January 8, 2026, 10:10 EST — Regular session Apple shares fell about 1.5% to $256.36 in morning trade on Thursday as investors digested a change in the Apple Card partnership that will shift the co-branded credit card to JPMorgan Chase from Goldman Sachs. AP News Apple and Chase said the handover is expected to take about 24 months, with Mastercard staying as the payment network. Jennifer Bailey, Apple’s vice president of Apple Pay and…
Chase Takes Over Apple Card As Goldman Exits The Consumer Credit Experiment
Apple has quietly made one of its most consequential financial moves in years. JPMorgan Chase is set to become the new issuer of the Apple Card, replacing Goldman Sachs, the Wall Street firm that helped launch Apple’s first major credit product back in 2019. On the surface, Apple says little will change for cardholders. Underneath, this is a sharp realignment of power across consumer banking, fintech partnerships, and the future of credit at sca…
Coverage Details
Bias Distribution
- 50% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
