JPMorgan Chase Becomes the New Issuer of the Apple Card
Apple Card ditches Goldman Sachs for JPMorgan Chase—what this $20B banking shift means for users.
Matilda
JPMorgan Chase Becomes the New Issuer of the Apple Card
Apple Card Gets a New Banking Backbone: JPMorgan Chase Takes Over In a major shakeup for one of tech’s most talked-about financial products, Apple has officially named JPMorgan Chase as the new issuer of the Apple Card, replacing Goldman Sachs after a five-year partnership. The transition—expected to span up to 24 months—won’t immediately change anything for current or new cardholders, but it marks a strategic pivot for Apple as it doubles down on fintech. For consumers wondering whether they’ll need a new card or lose cash-back benefits: you won’t. The Apple Card will still run on Mastercard’s network and retain its signature rewards structure. Credit: Apple Why Apple Ditched Goldman Sachs After Just Five Years Apple and Goldman Sachs launched the Apple Card in 2019 with bold promises: no late fees, no hidden charges, and industry-leading transparency. But behind the scenes, the partnership struggled under mounting credit losses and regulatory scrutiny. Goldman Sachs, traditionally an in…
