Chase will become the new issuer of the Apple Card, adding Apple to its co-brand credit card portfolio. The partnership highlights both companies’ focus on innovation and strengthens Chase’s position in digital consumer finance, while ensuring continuity for Apple Card users within Apple’s ecosystem. (Image: Chase)
09 January 2026
Apple and Chase have announced a landmark agreement that will see Chase become the new issuer of Apple Card, with the transition expected to take place over approximately 24 months. The announcement was made on January 7, 2026, from Wilmington, Delaware.
Under the new partnership, Apple Card users will continue to enjoy the features that have defined the product since its launch, including up to 3 percent unlimited Daily Cash back, detailed spending insights within Apple Wallet, Apple Card Family, access to a high-yield Savings account, and privacy-focused design. Mastercard will remain the payment network, ensuring global acceptance and continuity of benefits for cardholders.
Image: Chase
Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet, said the company is proud of how Apple Card has reshaped the credit card experience by helping users make healthier financial decisions. She added that Chase shares Apple’s commitment to innovation and customer experience, and that the companies look forward to delivering best-in-class service together.
Allison Beer, chief executive officer of Card & Connected Commerce at Chase, described Apple as an iconic global brand and said the partnership deepens Chase’s co-brand credit card portfolio. She emphasized a shared focus on consumer financial health and said the companies are excited to innovate together in the years ahead.
Mastercard president of the Americas Linda Kirkpatrick said the company is pleased to continue its longstanding partnership on Apple Card, highlighting the card’s role in advancing simple, secure and seamless payments at global scale.
Introduced in 2019, Apple Card has become a popular choice for U.S. consumers thanks to its fee-free structure, intuitive spending tools and strong emphasis on privacy and security. Users can manage their card entirely through Apple Wallet, receive Daily Cash rewards that can be spent instantly or deposited into Savings, and finance Apple products interest-free through Apple Card Monthly Installments. Apple Card Family also allows account sharing within an Apple Family Sharing group.
During the transition period, Apple Card holders can continue using their cards as normal, with no immediate changes required. Apple and Chase said additional details and customer communications will be shared closer to the transition date, with FAQs available online.
As part of the agreement, Chase is expected to acquire more than $20 billion in Apple Card balances, bringing them onto its platform. The transaction, subject to regulatory approval, is not expected to close for around two years. JPMorgan Chase & Co. expects to record a $2.2 billion provision for credit losses in the fourth quarter of 2025 related to the forward purchase commitment.
Apple Card is currently issued by Goldman Sachs Bank USA, which will remain involved during the transition. Both Apple and Chase stressed that the goal is a smooth handover that preserves the Apple Card experience customers have come to expect.
Apple Card is subject to credit approval, available only for qualifying applicants in the United States, and issued by Goldman Sachs Bank USA, Salt Lake City Branch.
Apple Payments Services LLC, a subsidiary of Apple Inc., is a service provider of Goldman Sachs Bank USA for Apple Card and Savings accounts. Neither Apple Inc. nor Apple Payments Services LLC is a bank.
About Chase
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States of America with assets of $4.6 trillion, $360 billion in stockholders’ equity as of September 30, 2025, and operations worldwide. Chase serves more than 85 million consumers and 7 million small businesses with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: more than 5,000 branches in 48 states and the District of Columbia, nearly 15,000 ATMs, mobile, online and by phone. For more information, go to chase.com.
Source: Chase / GLO
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