Chase Reportedly in Advanced Talks to Become New Apple Card Partner

JPMorgan Chase is in "advanced talks" with Apple about becoming the Apple Card's new financial partner, according to The Wall Street Journal.

Apple Card iPhone 16 Pro Feature
JPMorgan owns Chase Bank, one of the largest banking chains in the United States.

Barclays and Synchrony were also reportedly in the running to become the Apple Card's new financial partner, but it looks like JPMorgan Chase is currently the frontrunner. The report said JPMorgan Chase's talks with Apple "accelerated in recent months."

JPMorgan Chase would be taking over for Goldman Sachs.

In 2023, The Wall Street Journal reported that Goldman Sachs wanted out of its Apple Card partnership, but it has yet to part ways with Apple.

Goldman Sachs is in the process of winding down its consumer lending business, which has lost billions of dollars in recent years. On an earnings call this year, Goldman Sachs CEO David Solomon said the company is contracted to be the Apple Card's lender until 2030, but he said there is a "possibility" that the partnership will end earlier.

Last year, the U.S. Consumer Financial Protection Bureau fined Apple and Goldman Sachs nearly $90 million combined after finding the companies mishandled transaction disputes and misled iPhone users about interest-free payment options.

If the Apple Card does eventually get a new financial partner, it is unclear if there would be any major changes to the card's features and policies.

On the payment network side, it has been reported that Visa and American Express have expressed interest in taking over for Mastercard.

Launched in 2019, Apple's credit card remains available in the U.S. only.

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Top Rated Comments

alexandr Avatar
15 weeks ago

AMEX was my first pick. Chase second. Synchrony 100th.
With all due respect, AMEX is not accepted well overseas. This would make the  card not great for traveling.
Score: 17 Votes (Like | Disagree)
sniffies Avatar
15 weeks ago
AMEX was my first pick. Chase second. Synchrony 100th.
Score: 11 Votes (Like | Disagree)
dynamojoe Avatar
15 weeks ago
I’m already a Chase customer and for the most part I’m satisfied. I’m sure the savings interest rate is going to be the first victim though.
Score: 11 Votes (Like | Disagree)
TimFL1 Avatar
15 weeks ago

YES, THERE WILL BE ONE HUGE CHANGE:

Apple Card will now subject to Chase’s infamous 5/24 rule. (If you don’t know, Google it). Apple may not want this implemented but this will likely be a sticking point for Chase and Apple will be forced to adopt it.
How is that a bad thing? Anyone adding that many cards to their name has lost control of their financial life.
I have 2 credit cards (MC and Amex) and a local bank issued debit card for decades now, so this might just be an american thing I don‘t get.
Score: 7 Votes (Like | Disagree)
mgz Avatar
15 weeks ago
Left chase as a bank due to poor customer service but still anchored there with some credit cards I don’t want to close (Amazon prime for one).

Only upside is it seems likely they’d issue the card as a Visa, which would enable using Apple Card at Costco finally
Score: 6 Votes (Like | Disagree)
orbital~debris Avatar
15 weeks ago
Oh good ? Chase are in the UK, so hopefully that will smooth things over for a UK launch.

(Would have loved American Express though – they seem to have a similar ethos to customer service as Apple).
Score: 5 Votes (Like | Disagree)