January 7, 2026
Swipe right on drama
Chase to become new issuer of Apple Card
Chase takes the wheel on Apple Card—fans split between hype and side‑eye
TLDR: Apple is switching the Apple Card’s bank from Goldman Sachs to Chase in about two years, with perks and Mastercard staying the same. Commenters are split: some fear stricter rules and credit limit changes, others recall a past “bait‑and‑switch,” while dupe patrol and popcorn jokes keep the thread spicy.
Apple says Chase will take over the Apple Card in about 24 months, with the same perks—up to 3% cash back, no fees, savings account, family sharing—and Mastercard still running the payment rails. Sounds chill, right? The comments immediately turned into bankfight night. One user wondered what Apple had to “cave” on, recalling Apple’s old hardline rules like synchronized billing dates that made support days a meltdown. Another flexed big credit limits and nervously asked what this means for their ceiling, while a newcomer admitted they’d never even heard of Apple Card and started reading off the glossy features. Cue the “marketing vs reality” chorus.
The juiciest drama? A frustrated voice claiming Gen 1 Apple Card pulled a bait‑and‑switch on the promise of 0% iPhone financing via Apple Card Monthly Installments—interest‑free payments at checkout—stirring old wounds. Meanwhile, the dupe police showed up with the whistle, dropping a duplicate link like it’s tradition. Behind the scenes, the deal is huge—over $20 billion in balances moving and a future $2.2 billion loss provision—but the crowd’s fixated on trust, limits, and whether Chase will be friendlier… or stricter.
In true internet fashion, it’s a split screen: optimists cheering better service, skeptics bracing for bank shenanigans, and meme‑lords posting popcorn gifs as the “Chase is the new Goldman” jokes write themselves.
Key Points
- •Chase will become the new issuer of Apple Card, with a transition expected in about 24 months, subject to regulatory approvals.
- •Mastercard will remain the payment network for Apple Card, preserving global acceptance and benefits.
- •Apple Card features and usage, including no fees and up to 3% Daily Cash, will continue during the transition.
- •The agreement is estimated to move over $20 billion of card balances to the Chase platform.
- •JPMorganChase expects a $2.2 billion provision for credit losses in Q4 2025 related to the forward purchase commitment.