Updated: January 18, 2026
Apple Card is changing banks — not changing its identity. Goldman Sachs has been the issuing bank since Apple Card launched in 2019, and Apple has now announced that JPMorgan Chase will become the new issuer. The transition is expected to take about 24 months, and Apple says cardholders can keep using Apple Card normally during that period.
The announcement
On January 7, 2026, Apple and Chase confirmed the issuer change in a joint announcement: Apple Newsroom release.Chase published the same announcement here: Chase press release. Apple also created a dedicated FAQ page that lays out what changes (and what doesn’t): Apple Card Issuer Transition FAQ.
In simple terms it means that Chase is becoming the new issuer, Mastercard remains the card payment network, and Apple says the Apple Card experience — the Wallet-first way you apply, pay, and track spending — continues.
What stays the same
Apple will continue providing the same experience correctly available, that part will stay.
- You’ll keep managing Apple Card in the Wallet app and at card.apple.com.
- You’ll keep earning Daily Cash (Apple reiterates “up to 3% unlimited Daily Cash back on every purchase”).
- Apple Card will continue to have no fees: no annual fees, no late fees, and no foreign transaction fees.
- Mastercard remains the payment network (so acceptance and Mastercard benefits continue).
- Apple Card Family remains available for sharing an account through Family Sharing.
- Apple Card Monthly Installments continues as an interest-free payment option when selected at checkout on eligible Apple purchases.
- Apple’s privacy and security commitments remain unchanged.
What changes
The “issuer” is the bank that underwrites the account, extends the credit line, and carries the lending risk. That’s what’s moving from Goldman Sachs to JPMorgan Chase.
- Balances for open accounts: once the transition is complete, Apple says existing open balances will be with Chase.
- Bank infrastructure: servicing, underwriting models, and portfolio management ultimately shift to Chase.
- Credit reporting: Apple says credit reports will update to show Chase as the issuing bank after the transition.
Timeline: when the switch happens
Apple and Chase are guiding to an “expected transition in approximately 24 months,” and they note it’s subject to closing conditions and regulatory approvals. In practical terms, that points to a late‑2027 to early‑2028 handoff. Until then, Apple says you can use Apple Card normally, and Goldman Sachs will continue to service Apple Card users.
If you already have Apple Card
Apple’s says that you will not need to reapply, and you can keep using the card the same way while it’s being transitioned.
- No reapplication required for existing users.
- You keep using your existing physical Apple Card during the transition.
- If card numbers or physical cards change, Apple says you’ll be told directly closer to the transition date.
- Support stays accessible through Apple Card support in the Wallet app; Goldman Sachs continues servicing until the transition is complete.
Apple Card basics
Apple Card is designed around Apple Wallet. You apply in Wallet, use Apple Pay for the best earn rate, and your rewards show up as Daily Cash you can use right away.
The Daily Cash structure is still the core of the product:
- 3% Daily Cash on Apple purchases and select merchants when you use Apple Pay
- 2% Daily Cash on purchases made with Apple Pay
- 1% Daily Cash when you use the physical titanium card
Apple Card is marketed as fee‑free (no annual, late, or foreign transaction fees), and it’s built around spending insights inside Wallet — including transaction details and tools designed to help people stay on top of payments.
Why Goldman Sachs is exiting — and why Chase is stepping in
Goldman Sachs confirmed the agreement in its own press release and framed it as the completion of a broader pullback in its consumer business. Goldman also said the transition is expected to take about 24 months and that it will continue operating the program until the transition is complete.
Chase, for its part, gets one of the largest co‑brand card programs in the USA. Reports from major outlets have described the portfolio as over $20 billion in balances moving to Chase, and Chase has discussed setting aside substantial reserves tied to the acquisition.
What we still don’t know yet
Apple has been clear about continuity, but it hasn’t published a “new Chase version” of Apple Card terms. Until Apple shares final migration details closer to the switch, a few practical questions remain open:
- Whether any rewards details change beyond what Apple has already reaffirmed (Daily Cash, no fees).
- Whether there will be new promotions or limited-time bonuses tied to the transition.
- How Apple Savings will be handled long-term under the new issuer relationship (Apple says more details are coming).
- Whether the transition triggers any visible changes in statements, payment processing, or dispute handling.
FAQs
When does Chase become the issuer of Apple Card?
Apple and Chase are guiding to an expected transition in approximately 24 months from the January 7, 2026 announcement (subject to approvals).
Do I need to apply again if I already have Apple Card?
No. Apple says existing Apple Card users do not need to reapply.
Can I still apply for Apple Card right now?
Yes. Apple says you can apply for Apple Card during the transition period.
Will Apple Card still be a Mastercard?
Yes. Apple and Chase say Mastercard remains the payment network for Apple Card.
Will my physical titanium Apple Card still work?
Yes. Apple says you can keep using your existing physical Apple Card as normal during the transition.
Will my card number or card information change?
Apple says any specifics regarding card number changes (if any) will be communicated directly to users as the transition date approaches.
What happens to my existing balance?
Apple says that once the transition is complete, Apple Card balances for open accounts will be with Chase. Until then, you should pay as you do today.
Will Daily Cash change?
Apple says users will continue to earn up to 3% unlimited Daily Cash back on every purchase.
Will Apple Card still have no fees?
Apple says Apple Card will continue to have no fees — no annual fees, no late fees, and no foreign transaction fees.
Who do I contact if I need help with my Apple Card?
Apple says you can contact Apple Card support from the Wallet app or through Apple Support, and that Goldman Sachs will continue servicing users until the transition is complete.
Will this affect my credit report?
Apple says that once the transition takes place, users’ credit reports will update to show Chase as the new issuing bank of Apple Card.
What happens to the Savings account in Wallet?
Apple says users will continue to have access to Savings during the transition and that more information will be shared as the transition date approaches.
