JPMorganChase takes over Apple Card from Goldman Sachs
American Banker·2026-01-07 23:43

Key insights: JPMorganChase is taking over the Apple Card from Goldman Sachs.What's at stake: The deal ends more than a year of speculation about which credit card issuer would take over Apple's coveted 20billioncreditcardportfolio.Forwardlook:Thetransitionwilltakeabouttwoyears,butJPMorganislogginga20 billion credit card portfolio.Forward look: The transition will take about two years, but JPMorgan is logging a 2.2 billion provision for credit losses to prepare for potential credit hits.The Apple Card has found a new home at JPMorganChase , the country's largest credit card issuer, the bank announced ...