All articles tagged with #apple card
Apple marks seven years of the Apple Card, while a plan emerges to switch the issuer from Goldman Sachs to Chase by early 2028; Mastercard remains the network, and open balances will migrate to Chase with Goldman Sachs continuing customer service in the interim. For now, cardholders can continue using Apple Card as usual, with no confirmed changes beyond the issuer transition and no expansion beyond the U.S. yet.
Apple has introduced Apple Upgrade, a Klarna-backed leasing program for iPhone, iPad, Mac, and Apple Watch that replaces the iPhone Upgrade Program and iPhone Payments. Leases run 12–24 months for iPhone/Watch and 24–36 months for Mac/iPad, with starter monthly prices from $17.99 (iPhone) and $11.99 (Watch). End-of-lease options include returning, paying off, or upgrading; trade-ins/credits affect monthly costs, and Klarna handles the financing. Apple Card users can opt for Apple Card Monthly Installments or Apple Upgrade with 3% Daily Cash on lease payments. Current iPhone Upgrade Program sign-ups end, but existing participants may continue payments until paid off. Availability starts today in-store and online, with model and eligibility restrictions.
Samsung announced the Galaxy Card, its first U.S. credit card issued by Barclays. The Visa card integrates into Samsung Wallet (with a black metal physical card to ship later) and offers 5% cash back on purchases made directly from Samsung, 3% on Samsung Wallet purchases, 2% on streaming services, and 1% on everything else, plus a $200 bonus after $2,000 in 90 days and a 20% discount on Samsung VIP Advantage when using the card. Apple Card is cited for comparison (3% on Apple purchases, 2% on Apple Pay, 1% elsewhere). Barclays says the Galaxy Card is wallet-native, while Apple Card’s issuer transition from Goldman Sachs to JPMorgan Chase runs through 2027. Availability begins July 22 at Samsung stores and online, timed with Samsung’s Unpacked event.
Bloomberg reports a forthcoming Apple Card promo could give new U.S. sign-ups $249 Daily Cash back on AirPods Pro 3, effectively making the $249 earbuds free; the offer hasn’t been officially announced yet.
Goldman Sachs posted Q4 2025 EPS of $14.01 (beat) and revenue of about $13.5B (miss vs. $13.9B). The shortfall came from Apple Card markdowns linked to the pending sale of the portfolio to JPMorgan, with Platform Solutions’ negative net revenue (-$1.68B) a drag. A reserve release for credit losses ($2.48B) partially offset the markdowns, and net interest income was strong, while Global Banking & Markets and Asset & Wealth Management showed solid results.
Chase will become the new issuer of Apple Card within approximately 24 months, continuing to support the existing features and benefits, while Mastercard remains the payment network. The transition aims to enhance customer experience and support financial health, with over $20 billion in card balances expected to transfer to Chase.
Apple Card's partnership with Goldman Sachs is likely to end in 2026, with JPMorgan Chase as the preferred successor, though challenges remain due to the high percentage of subprime customers and associated losses. The future of Apple Card may involve changes such as increased fees and less generous terms, with potential new partners like Capital One considered if JPMorgan Chase falls through.
Apple is offering a limited-time promotion for new Apple Card users to earn $75 in Daily Cash after spending $75 within the first 30 days, available until November 17th, providing an incentive to sign up sooner rather than later.
Apple Card is offering a new promotion that provides bonuses for using Uber and Uber Eats, enhancing its benefits for cardholders who frequently use these services.
JPMorgan Chase is close to taking over Apple's credit card program, with negotiations accelerating as Goldman Sachs steps back, and other competitors like American Express and Visa have reduced their involvement.
JPMorgan Chase and Apple are close to finalizing a deal for JPMorgan to become the credit card partner for Apple, potentially taking over the Apple Card portfolio after Goldman Sachs' exit, amid ongoing negotiations and industry shifts.
JPMorgan Chase is close to acquiring the Apple Card portfolio from Goldman Sachs, which would enhance JPMorgan's position as a leading credit card issuer in the U.S. Goldman Sachs aims to exit the credit card business following challenges with the Apple Card, while JPMorgan seeks to bring stability and expand its credit card offerings. Negotiations are ongoing, with other contenders like American Express and Barclays dropping out.
Apple is close to signing a deal with JPMorgan Chase to replace Goldman Sachs as its partner for the Apple Card, amid Goldman Sachs' exit from the consumer finance business. The transition may involve changes to the current Apple Card terms, and negotiations have been ongoing since last year, with Chase currently the front-runner among potential partners.
iOS 17.4 update allows third-party budgeting apps beyond Mint to access real-time Apple Card transactions, providing users with more options to track their spending. With Mint accounts set to shut down, Apple has expanded Apple Card support to other apps like Monarch, YNAB, and Copilot. Additionally, Apple is expected to announce new products this week, including new MacBook Air models with M3 chip and improved features.
iOS 17.4 introduces a significant change for personal finance apps, allowing them to easily access Apple Card, Apple Cash, and Apple Card Savings accounts information and import that data. This update comes after the shutdown of Mint, which previously offered integration with Apple Card. Budgeting apps like Copilot, YNAB, and Monarch Money have already added support for this feature, enabling users to seamlessly track their Apple Card, Apple Cash, and Savings accounts alongside accounts from other institutions.