{"id":62542,"date":"2026-01-07T23:15:14","date_gmt":"2026-01-07T22:15:14","guid":{"rendered":"https:\/\/www.apfelpatient.de\/?p=62542"},"modified":"2026-01-08T00:29:50","modified_gmt":"2026-01-07T23:29:50","slug":"report-apple-card-switches-to-jpmorgan-chase","status":"publish","type":"post","link":"https:\/\/www.apfelpatient.de\/en\/rumors\/bericht-apple-card-wechselt-zu-jpmorgan-chase","title":{"rendered":"Report: Apple Card switches to JPMorgan Chase"},"content":{"rendered":"

A significant change is coming to the Apple Card. After several years of partnership with Goldman Sachs, JPMorgan Chase is set to take over operation of the credit card. The deal is considered largely finalized and could be officially announced soon after more than a year of negotiations. The move is driven by economic reasons, strategic realignment, and billions of dollars in outstanding balances.<\/strong><\/p>\n\n\n\n

The Apple Card was initially positioned as a modern credit card product, tightly integrated with the Apple ecosystem and with a strong focus on ease of use. Behind the scenes, however, the project became more difficult than anticipated. For Goldman Sachs, the Apple Card increasingly became a liability. The upcoming transition to JPMorgan Chase is the result of this development and marks a clear turning point for all involved.<\/p>\n\n\n\n

Goldman Sachs and the planned withdrawal from the Apple Card<\/h4>\n\n\n\n

Over two years ago, reports surfaced that Goldman Sachs intended to end its partnership with the Apple Card. This stemmed from a strategic decision to withdraw from unprofitable retail banking products, and it was precisely in this area that Goldman Sachs had encountered significant problems with the Apple Card.<\/p>\n\n\n\n

According to The Wall Street Journal<\/a>, Goldman Sachs is selling approximately $20 billion in outstanding Apple Card balances. The sale is taking place at a discount of more than $1 billion. Such a price reduction is unusual for co-branded credit cards and illustrates the difficult situation the company faced.<\/p>\n\n\n\n

Particularly problematic were the above-average default rates and a high exposure to subprime borrowers. These factors made it difficult for Goldman Sachs to find a buyer for the portfolio. The exit from Apple Card thus fits into a broader strategy to reduce risks and cut costs.<\/p>\n\n\n\n

JPMorgan Chase acquires Apple Card<\/h4>\n\n\n\n

JPMorgan Chase's interest in the Apple Card became public over a year ago. Over time, evidence mounted that Chase was a potential new partner. Last summer, the bank was considered the clear frontrunner.<\/p>\n\n\n\n

An agreement has reportedly been reached. Barring any last-minute issues, the deal should be announced soon. For JPMorgan Chase, the acquisition means access to a large, tech-savvy customer base and a stronger position in the credit card business. For Apple, Chase provides a partner with significantly more experience in the mass-market credit card business.<\/p>\n\n\n\n

New Apple savings account and consequences for existing customers<\/h4>\n\n\n\n

In addition to the Apple Card, JPMorgan Chase is reportedly planning to launch a new Apple savings account. This will be offered alongside the credit card and will further deepen the collaboration with Apple.<\/p>\n\n\n\n

It's important to note that existing users with Apple Savings accounts at Goldman Sachs will not be automatically transferred to JPMorgan Chase. Instead, they must decide for themselves whether to keep their accounts at Goldman Sachs or open new accounts with Chase. Automatic migration is explicitly not planned. This leaves the choice with the customer, but also introduces additional decision-making requirements.<\/p>\n\n\n\n