Chase is taking over Apple’s credit card
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On Wednesday evening, Apple announced that JPMorgan Chase will become the new issuer of Apple Card, replacing Goldman Sachs, which has backed the company’s credit cards since their launch in 2019. This ends speculation about a new partner for Apple Card stretching back a few years, as Goldman Sachs continues an exit from consumer lending, and Apple manages a services business that has gone from $11 billion in quarterly revenue to more than $28 billion.
If you have an Apple Card, then Apple says not much will change anytime soon; the transition of the $20 billion credit card portfolio is scheduled to take place two years from now.
Apple:
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