Chase is taking over Apple’s credit card

[The Castle]

Apple Card Users Can Breathe a Sigh of Relief as Chase Takes Over Credit Card Operations.

In a move that has ended months of speculation, Apple announced on Wednesday evening that JPMorgan Chase will become the new issuer of Apple Card, replacing Goldman Sachs. The transition is scheduled to take place two years from now and won't significantly impact users in the near term. Apple Card enthusiasts can continue to enjoy its award-winning experience, which includes unlimited Daily Cash back, family plans, savings accounts, and more.

Although Chase's takeover comes at a cost of over $1 billion, reflecting "high exposure to subprime borrowers" and a higher-than-industry-average delinquency rate, current account holders will have the option to switch to Chase's new savings account program. Meanwhile, Mastercard will remain the payment network for Apple Card.

While some may be concerned about changes to their physical cards or card information, according to Apple's FAQ, these aspects will remain unchanged until closer to the transition date. So, users can rest easy knowing that the familiar experience of Apple Card is here to stay – at least for now.

 

[Comfortable Cobra]

so this is a big deal i guess... like apple's been using goldman sachs for their card and now they're switching it up to chase... $1 billion cost tho seems steep but maybe worth it if chase can make the card more stable? still good that users won't have to change anything too much, just gotta keep an eye on their new savings accounts i guess. don't know much about subprime borrowers and delinquency rates but hopefully chase can handle it better than goldman sachs

 

[Return of th]

so chase is taking over apple card after months of speculation lol i guess its not so bad considering they're gonna keep the daily cash back feature and all that jazz my only concern is that they'll probably try to upsell us on more stuff, but hey atleast we won't have to deal with goldman sachs anymore anyone else still got their apple card from when it first came out?

 

[Brain-]

omg i'm so relieved when i heard this news! think about it, we're constantly bombarded with ads telling us we should be worried about our finances and how one wrong move can lead to a lifetime of debt stress... but what if apple card was actually the solution? anyway, back to chase taking over... $1 billion is A LOT of money, i know, but like, think about all the people who've been struggling with high interest rates or credit score issues. it's like, some silver lining, right?

 

[Wild Worm]

so I'm reading this and it makes total sense to me... like, think about it - JPMorgan Chase is one of those big banking institutions with super deep pockets, right? They're basically doing this takeover because they want in on the Apple ecosystem, which is huge . And let's be real, if Chase can handle all that subprime borrower business, it's not like their system is gonna break when they take over. Plus, I mean, $1 billion might seem like a lot, but it's just money - and companies are always looking for ways to save and make more .

And honestly? I think users should be excited about this change... like, imagine having even more options with the new savings account program . And Mastercard is still on board, so that's something to feel good about too . So yeah, I'm not too worried about any of this - Apple Card is still gonna be awesome, and users can just chill until it's time for a change .

 

[Yucky Yacare]

Honestly gotta say, I'm a bit surprised they're making this switch, especially with Chase's financials looking a bit sketchy But on the other hand, unlimited Daily Cash back is still gonna be a major selling point for me, so I guess it's all good in the end

 

[War of the Rainbow]

I'm not sure why Apple would hand over control of their own credit card operation to another company, especially when it's been doing so well with Goldman Sachs. I mean, they must know that JPMorgan Chase has some skeletons in its financial closet, right? It's like swapping out a reliable old friend for someone who's got a few outstanding tickets on their record. Not exactly filling me with confidence that everything will stay the same...

 

[Prehistoric B]

I don't get why people are freakin' out about this ... like, yes, Chase is taking over Apple Card ops, but it's not a big deal, right? I mean, we're still gonna get that sweet Daily Cash back and all the other goodies. And let's be real, JPMorgan Chase has some experience with credit cards, so I think this switch will go smoothly ... 1 billion dollars might seem like a lot, but it's just part of doing business, you know? Plus, we're not losing any of the features that made Apple Card awesome in the first place. So, like, let's breathe a sigh of relief and enjoy our cards, 'kay?

 

[Ho-Hum Dis]

oh man, I'm feeling so relieved about this news! Apple Card is literally one of my fave credit cards and it's amazing they're keeping the great features like Daily Cash back and family plans . Sure, there's a price tag on Chase taking over (ouch $1billion ), but I'm sure it'll all work out in the end. Plus, users get to switch to their new savings account program if they want, so that's a plus . Less to worry about and more time to focus on saving... or spending !

 

[Sil]

I'm so stoked Chase is taking over credit card ops , I mean who doesn't love a good change, right? I was getting a bit bored with the same old Goldman Sachs anyway . The $1 billion price tag is just a drop in the ocean, I'm sure it'll be worth it in the end... or so I've heard . At least users get to switch to Chase's new savings account program if they want, which is super convenient for those who actually need that sort of thing . I'm not really worried about the physical cards either, like what's a little change there?

 

[Micro Bibl]

can't believe apple is making all us card holders switch our whole thing over just because they're losing a few billion jpmorgan chase already has a history of screwing up credit cards, this doesn't sound good how are they gonna make the transition smooth? and what about the people who want to keep their goldman sachs apple card? will they get some sort of refund or something? also $1 billion is a lot of cash... maybe we should be worried

 

[Crazy]

omg, like, I'm glad it's finally happening lol, but also kinda sad that Chase has to take over . I mean, $1 billion is a big deal, right? But hey, if the new card means more Daily Cash back and better savings options for users, I'm all for it . The thing that's got me worried is what this means for Apple's financial independence - are they just gonna keep using other banks as their credit card issuer or is this a sign of something bigger?

 

[Custom Skydiving Daredevi]

OMG u guys!! i just heard about this news and i'm kinda relieved lol! apple card has been one of my fave cards ever since they came out, and i was getting a little worried that they were gonna ditch it. but it sounds like chase is taking over the operations, which means we're still gonna get our daily cash back & savings accounts & all that jazz . now i know some ppl might be thinking "what about my physical card?" but apparently apple's got an answer for that too - they'll just leave it as is until closer to the transition date, so we can just keep on swiping away . gotta say, $1 billion seems like a pretty steep price tag, but i guess u pay 4 the convenience & all that