**Breaking News: JPMorgan Chase Takes the Reins from Goldman Sachs as Apple Card’s New Issuer**
Hey Apple enthusiasts! You might have heard whispers about a big change coming to Apple’s Apple Card, and the news is finally here – JPMorgan Chase is taking over as the new issuer, replacing Goldman Sachs. Don’t worry, your Apple Card will still be the same for now, but let’s dive into what this means for you and Apple.
So, what’s new? Well, Apple is switching up its banking partner, but the Apple Card will continue to use the Mastercard network for transactions. That means no significant changes for you – you can still apply for new cards, and all the same perks and benefits will remain in place. Same old, same old, but exciting developments ahead!
Here’s the juicy part: JPMorgan Chase is bringing over a whopping $20 billion in card balances to Chase, and Goldman Sachs is selling this portfolio at a $1 billion discount. Ouch, looks like Goldman Sachs took a hit! They expect to take a $2.2 billion provision for credit losses related to this deal in their Q4 2025 earnings.
Rumors have been circulating for a while now about JPMorgan Chase replacing Goldman Sachs as Apple’s partner, and it looks like those talks finally paid off!
For those who might not know, the Apple Card was launched in 2019 in partnership with Goldman Sachs. It offers some amazing perks, like no late fees or penalty interest rates, and rewards like up to 3% daily cashback on Apple and select partner purchases, 2% on Apple Pay, and 1% on physical card transactions.
What does this mean for Apple and its customers? Well, only time will tell, but it’s likely that this new partnership will bring some fresh ideas and innovations to the table. Stay tuned, folks!
**Source:** [link to the original article]
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