According to the [1]Wall Street Journal (paywalled), Goldman Sachs is [2]transferring Apple Card and Apple Savings to JPMorgan Chase . "It was [3]clear in 2023 that Goldman Sachs would exit the consumer credit game, abandoning its Apple Card partnership with it," reports AppleInsider. "However, it has taken 26 months to reach a point where it can finally hand over issuing control to another bank." From the report:

> Goldman Sachs is reportedly expected to hand over the $20 billion of outstanding balances at a $1 billion discount. Such discounts are rare, and allegedly reflect the higher-than-average delinquency rate found with Apple Card holders. JPMorgan will have to issue new Apple Cards to existing users, but it may be some time before that is done. A new Apple Savings will be opened by JPMorgan as well, but users will be given the option to move or stay.



[1] https://www.wsj.com/finance/banking/jpmorgan-chase-reaches-a-deal-to-take-over-the-apple-credit-card-4e214fb2

[2] https://appleinsider.com/articles/26/01/07/jpmorgan-chase-reaches-deal-to-take-over-apple-card

[3] https://news.slashdot.org/story/23/11/30/0316210/apple-pulls-plug-on-goldman-credit-card-partnership