Apple confirms Chase will take over Apple Card from Goldman Sachs

Apple Card

• Chase will replace Goldman Sachs as Apple Card issuer within 24 months
• Apple Card users won't need to reapply; Mastercard stays as the payment network.
• Apple Card Savings and Monthly Installments will continue after the transition

Did our AI summary help?

Apple has confirmed that Chase will take over as the issuer of Apple Card, replacing Goldman Sachs in a transition that will be completed in “approximately 24 months”. The announcement follows earlier reporting by The Wall Street Journal and was made official through an Apple press release and a new support page addressing customer questions.

During the transition period, Apple says Apple Card users can continue using their cards exactly as they do today. Day-to-day usage, repayments and account management will remain unchanged until the handover is complete.

What changes and what stays the same 

Apple has outlined several key points to reassure existing Apple Card users. Customers will not need to reapply for the card, and Mastercard will remain the payment network. Balances on open accounts will eventually move to Chase once the transition is finalised, and credit reports will be updated to reflect Chase as the new issuing bank.

Users will continue to manage their Apple Card through the Wallet app, and existing physical Apple Cards will keep working as normal. Apple said any changes around physical cards, if required, will be communicated closer to the transition date.

Savings and instalments remain intact

Apple confirmed that users will retain access to Apple Card Savings, with more details to be shared as the transition approaches. The company also said Apple Card Monthly Installments will continue to be available for purchases made at Apple Stores, on apple.com, and via the Apple Store app.

The core appeal of Apple Card remains unchanged. Apple reiterated that the card will continue to have no annual fees, no late fees, and no foreign transaction fees, even after Chase takes over.

Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet, said the company was proud of how Apple Card has reshaped the credit card experience and praised Chase for sharing Apple’s focus on innovation and customer experience. Apple says it expects the partnership to build on the existing Apple Card foundation rather than reinvent it.