For those wondering, “What’s happening with Apple’s credit card?” — the tech giant announced on Wednesday, Jan. 7, 2026, that Chase will become its new issuer.
The change will replace Goldman Sachs, which has backed Apple Card since its launch in 2019, and will take place over the next two years.
“Apple is an iconic brand recognized globally for its innovation, design excellence, and commitment to delivering exceptional customer experiences,” Allison Beer, Chase’s CEO of Card & Connected Commerce, said in a statement.
She added, “We share a commitment to supporting consumer financial health, and we’re proud to deepen our relationship by welcoming them as the newest partner in our industry-leading co-brand credit card program. We’re excited to innovate together in the future.”
Apple Card users can continue to use their cards as usual during the transition. Managing balances, accessing savings accounts, and applying for new cards will remain the same for now. Mastercard will also continue as Apple Card’s payment network.
The company says it will share additional details with users as the transition date approaches.
Apple Card Benefits And Rewards
Apple Card offers several perks to its users. According to the company’s news release, one of the main benefits is Daily Cash, which gives up to 3% cash back on every purchase and can be deposited onto users’ Apple Cash card in Wallet for use in-store, online, or in-app with Apple Pay.
Another feature, Apple Card Monthly Installments (ACMI), allows users to pay for new Apple products over time, interest-free.
In addition, users can open a savings account through Apple and take advantage of Apple Card Family, which lets them share their Apple Card account with anyone in their Family Sharing group.
“We’re incredibly proud of how Apple Card has transformed the credit card experience for customers by delivering innovative tools that empower users to make healthier financial decisions,” said Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet, via its Newsroom.
“Chase shares our commitment to innovation and delivering products and services that enhance consumers’ lives,” Bailey also added. “We look forward to working together to continue to provide a best-in-class experience and exceptional customer service with Apple Card.”
The Wall Street Journal (WSJ), citing anonymous sources, reports that Chase’s upcoming takeover of Apple Card comes at a discount of more than $1 billion.
Chase also reportedly has plans to launch a new savings account program, and current Apple Card holders will have the option to switch to it when it becomes available, per the outlet.
