JPMorgan Chase is the hot favorite for Apple Card takeover

AppleInsider

JPMorgan Chase may become the new host for Apple Card, with Apple reportedly viewing the bank as the preferred replacement for Goldman Sachs.

An Apple Card on a white background

Apple Card has had a troubled existence with Apple's original financial partner Goldman Sachs. After years of Goldman Sachs trying to get out of the partnership, it seems there may be light at the end of the tunnel.

According to sources of the Wall Street Journal, the talks between Apple and JPMorgan Chase have intensified earlier in 2025. It has allegedly reached a point that Apple has informed JPMogran that it is the iPhone maker's preferred replacement as credit card partner.

While this seems like good news for Apple Card's continued existence, the deal hasn't actually been signed yet. Talks are ongoing, and while they could result in a new partnership, they can just as easily fall apart.

JPMorgan isn't Apple's only option either. In January, it was reported that Apple was in talks with Barclays and Synchrony Financial over possible Apple Card partnerships.

If it does actually complete, the deal will at least give Goldman Sachs the opportunity to get out of what was an expensive exercise for the bank.

Massive bank, massive potential

Shifting Apple Card to the biggest bank in the United States can be an attractive proposition for JPMorgan Chase. It already operates credit cards and other facilities, which means it has considerable experience and systems in place to absorb Apple Card.

Economies of scale will help with the costs associated with managing Apple Card in a considerable way. Hopefully enough to avoid a repeat of the reported $1.2 billion hit to Goldman Sachs in 2019, which was associated with the Apple Card launch.

It can also be a way for JPMorgan to tap into the Apple customer base to provide even more financial services, which can in turn earn Apple more revenue.

International expansion is another good reason for Apple to sign up with JPMorgan Chase.

For Apple to launch Apple Card in other territories, it has to work with partners that already operate in the region. In the case of JPMorgan Chase, it has been operating in the United Kingdom since 2021 as a retail bank, and as a credit card in 2024.

Though not necessarily as fruitful as a tie-up with a major multi-national financial operator like Barclays, it would at least give Apple the opportunity to bring Apple Card across the Atlantic.

Rumor Score: Possible

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xed

Please, no. I just dropped Chase as my primary bank because of too many shady to incompetent actions over the years.

ios_guy80

Xed said:

Please, no. I just dropped Chase as my primary bank because of too many shady to incompetent actions over the years.

Please, please, whoever Apple selects I hope that they don’t screw it up and keep all of the essential features that the current credit card has. Apple Wallet and Apple Pay or two features I use daily. With the Apple Credit Card it makes the app even much more functional and enjoyable to use.

xed

iOS_Guy80 said:

Xed said:

Please, no. I just dropped Chase as my primary bank because of too many shady to incompetent actions over the years.

Please, please, whoever Apple selects I hope that they don’t screw it up and keep all of the essential features that the current credit card has. Apple Wallet and Apple Pay or two features I use daily. With the Apple Credit Card it makes the app even much more functional and enjoyable to use.

Bank of America web portal feels like it's 20 years out of date, but even if BoA got a deal with Apple I'd expect that Apple's Wallet app and card.apple.com access would stay the same.

macgui

iOS_Guy80 said:

Please, please, whoever Apple selects I hope that they don’t screw it up and keep all of the essential features that the current credit card has. Apple Wallet and Apple Pay or two features I use daily. With the Apple Credit Card it makes the app even much more functional and enjoyable to use.

I second all of the above. It's been my primary card since the day it was issued. I use it daily as well, having paid $0 interest the entire time, The app is feature rich and they all get used. The Apple Daily Cash goes to Apple Savings and the balance increases rapidly.

To lose any of its features would be hugely disappointing.

commentzilla

Please make it a ViSA. Mastercard has some issues internationally, while ViSA always seems to work.

commentzilla

Xed said:

Please, no. I just dropped Chase as my primary bank because of too many shady to incompetent actions over the years.

They just be your card issuer. I personally haven’t had any issues with Chase but maybe that’s because I only have a credit card with them instead of a bank account.

jib

I would be happier with Chase than most of the other reported would-be candidates. I have Chase Visa as well as bank accounts and brokerage (as well as other banks) and have had no issues with them. 

malba2366

If Chase takes over they will be much stricter than GS was on extending credit, and I don't think they will bend to Apple's demands the way GS did.  Chase has a very large credit card business and their risk management will not allow extending credit at good terms to many of the customers GS did.