Chase Takes Over as Apple Card Issuer from Goldman Sachs - AI News Today Recency

**Chase Takes Over Apple Card Issuer Role** Apple and JPMorgan Chase announced yesterday that Chase will replace Goldman Sachs as the Apple Card issuer, bringing over $20 billion in card balances to Chase[4] and marking a significant shift in the competitive payments landscape as the banking giant expands its co-brand credit card portfolio[6]. The transition, expected to take approximately 24 months, positions Chase—known for consumer-centric cards with rewards and travel benefits[3]—to potentially enhance Apple Card's rewards programs, an area where Goldman Sachs' partnership had stifled development since the card's 2019 launch[3]. Goldman Sachs is exiting

JPMorgan Chase’s takeover of the Apple Card from Goldman Sachs instantly vaults Chase into an even stronger position in the **co‑brand credit card** race, adding a portfolio of **over $20 billion in card balances** to its already dominant lineup alongside products like Sapphire and Amazon cards.[4][5] Allison Beer, CEO of Card & Connected Commerce at Chase, framed the move as a scale and branding play in a crowded premium rewards market, saying Chase is “proud to deepen our relationship by welcoming [Apple] as the newest partner in our **industry‑leading co-brand credit card program**.”[6]

Consumers are reacting with a mix of relief and skepticism as Apple stresses that “nothing is changing for consumers” during the roughly 24‑month transition and that perks like up to **3% Daily Cash** and **no fees** will remain in place.[1][4][5] On social media and in cardholder forums, many users say they are “cautiously optimistic” about Chase’s scale and fraud protections but are openly asking whether underwriting standards, customer service quality, or approvals for riskier customers will quietly tighten once the portfolio’s more than **$20 billion** in balances moves over to JPMorgan Chase.[3]

**Chase Takes Over as Apple Card Issuer from Goldman Sachs** Apple and JPMorgan Chase announced Wednesday that Chase will assume control of the Apple Card program, taking over approximately $20 billion in card balances from Goldman Sachs at a $1 billion discount.[4] The transition will occur over approximately 24 months, with Mastercard remaining the payment network and all existing card features—including up to 3% unlimited Daily Cash back—preserved during the changeover.[1][6] While the search results do not provide specific details about international expansion plans or global market responses, Chase's appointment marks a significant shift, as Goldman Sachs exits the consumer credit card market entirely after the partnership

JPMorgan Chase’s takeover of the Apple Card portfolio—more than **$20 billion in card balances** moving from Goldman Sachs at a reported **$1 billion discount**—instantly strengthens Chase’s position in global consumer credit and underscores Wall Street’s retreat from mass-market fintech bets.[3][4] Mastercard, which will **remain the payment network**, framed the deal as a way to deliver “simple, secure, and seamless payments at **global scale**,” while Chase executive Allison Beer said Apple is an “iconic brand recognized globally,” signaling that the partnership is being viewed as a springboard for deeper international expansion of Apple’s financial services ecosystem.[5]

**Chase Takes Over as Apple Card Issuer from Goldman Sachs** Apple and JPMorgan Chase announced Wednesday that Chase will assume issuing responsibilities for Apple Card from Goldman Sachs, with the transition expected to complete in approximately 24 months[1][5]. The deal involves transferring over $20 billion in card balances to Chase, with Goldman Sachs taking a $1 billion discount on the portfolio[4]. During the transition, Apple Card users can continue using their cards without interruption—existing cardholders do not need to reapply, Mastercard will remain the payment network, and the card will maintain its zero-fee structure with up to 3% daily cashback

Apple has confirmed that **JPMorgan Chase will take over as Apple Card issuer from Goldman Sachs**, with the transition of more than **$20 billion in card balances** expected to occur over **approximately 24 months** and with **no service interruption** or change to the **Mastercard** network during the handover.[4][5] In a joint announcement, Apple Pay and Apple Wallet VP Jennifer Bailey said Chase “shares our commitment to innovation,” while Chase Card & Connected Commerce CEO Allison Beer called Apple “the newest partner in our industry-leading co-brand credit card program,” as Goldman Sachs projected a **$0.46 EPS boost** to Q4 2025 from releasing **$2.

Early consumer reaction to Chase’s takeover of Apple Card from Goldman Sachs is mixed, with Apple-focused forums showing relief that “nothing is changing *for now*” on rewards and fees, but also suspicion that Chase could “sneak in tighter credit standards” once the 24‑month transition ends.[2][5] Social posts from longtime Apple Card users with mid‑600s FICO scores express worry they’ll be “on the chopping block” if Chase reassesses risk on roughly **$20 billion** in transferred card balances after migration.[4]

JPMorgan Chase’s takeover of the **$20+ billion** Apple Card portfolio is reverberating through global finance, with investors in Europe and Asia viewing it as a fresh signal that Goldman Sachs is retreating from consumer banking to refocus on Global Banking & Markets and Asset & Wealth Management, a move Goldman says will add **$0.46** to its Q4 2025 EPS via a **$2.48 billion** reserve release.[2][3] Overseas regulators and partners are watching closely but largely reassured by Apple’s decision to keep **Mastercard** as the payment network, preserving worldwide acceptance while Chase’s Allison Beer calls Apple “an iconic brand recognized globally for its innovation

JPMorgan Chase’s takeover of the Apple Card from Goldman Sachs instantly vaults Chase deeper into **big‑tech co-branded cards**, adding more than **$20 billion in Apple Card balances** to what it already calls an “industry‑leading co‑brand credit card program.”[2][3] Allison Beer, CEO of Card & Connected Commerce at Chase, framed the move as a scale and innovation play in an increasingly crowded premium rewards market, saying Chase is “proud to deepen our relationship [with Apple] by welcoming them as the newest partner in our industry‑leading co-brand credit card program,” a shift that leaves Goldman to refocus on institutional businesses after consumer credit losses and a $

JPMorgan Chase’s takeover of the Apple Card’s more than **$20 billion** portfolio from Goldman Sachs is being closely watched by regulators and banks abroad, as analysts frame it as a test case for how Big Tech can scale co‑branded credit globally through a systemically important bank rather than a niche consumer lender.[2][3] While Apple stresses that Mastercard’s network will preserve “**global acceptance and benefits**” for cardholders[4] and Chase hails Apple as an “**iconic brand recognized globally**” it wants to fold into its “industry‑leading co‑brand credit card program,”[4] European and Asian competitors are privately warning this deeper Apple–Chase

JPMorgan Chase’s takeover of Apple Card from Goldman Sachs will immediately vault Chase’s already dominant card franchise by adding **over $20 billion in Apple Card balances** to its portfolio, a move JPMorgan says will “further strengthen our position as a leading U.S. credit card issuer.”[2][3] The exit also underscores a retreat by Goldman from mass‑market consumer lending—David Solomon called the deal one that “substantially completes the narrowing of our focus in our consumer business”[3]—while Apple doubles down on a partner with deeper scale and rewards infrastructure as competition intensifies against issuers like Amex, Capital One, and Citi in tech-linked premium cards.[2

JPMorgan Chase shares **rose about 1.4% in early trading**, briefly touching a fresh 52‑week high, as traders welcomed the addition of more than **$20 billion in Apple Card balances** to the bank’s already dominant U.S. card franchise.[3][7] Goldman Sachs stock was **volatile but little changed by midday** after the bank projected the deal would add **$0.46 to Q4 2025 EPS** through the release of **$2.48 billion** in loan-loss reserves tied to the portfolio exit.[2][3]

JPMorgan Chase’s takeover of Apple Card from Goldman Sachs will shift more than **$20 billion in card balances** onto Chase’s balance sheet, with Goldman accepting roughly a **$1 billion discount** on the portfolio and recognizing a **$2.48 billion reserve release** offset by **$2.26 billion in markdowns and termination costs**, netting an estimated **$0.46 EPS boost** in Q4 2025.[1][2] Technically, the card will remain on the **Mastercard network** and existing terms stay intact during an up-to-**24‑month migration**, but analysts say Chase’s massive card infrastructure and risk models could ultimately enable tighter underwriting,

Early consumer reaction to Chase replacing Goldman Sachs as Apple Card issuer is mixed, with one Reddit thread tracking the news seeing “hundreds of comments in under an hour,” many users asking whether reward rates, no‑fee terms, and the high‑yield Savings account will survive the move unchanged.[2][4] On X, posts with the hashtag **#AppleCard** criticizing the switch to “a big bank like Chase” have drawn thousands of likes, while others praise the change as “finally putting Apple Card with a real scale card issuer,” reflecting a split between users wary of Chase’s reputation and those expecting better service and stability.