Apple Card is moving from Goldman Sachs to Chase as its bank
Chase is set to replace Goldman Sachs as the bank behind Apple Card over roughly 24 months, and Mastercard will still run the payment network.
On January 7, 2026, Chase said it will take over as the bank behind Apple Card, a role now held by Goldman Sachs Bank USA, Salt Lake City Branch. The card balances covered by the deal are estimated at over $20 billion.
The handover is projected to last about 24 months, and the closing still needs approval from regulators. JPMorgan Chase said that, because of its forward purchase commitment, it expects to book a provision of $2.2 billion for credit losses in the fourth quarter of 2025.
Cardholders will see Chase listed as the bank behind the card, while the payment network remains Mastercard. According to the announcement, current features are set to carry over. These include Daily Cash of up to 3%, Apple Card Family and the Savings account.
In the meantime, people who hold the card can use it the way they do today. The press release links to an Apple page about the change that includes FAQs, and it says further information will be shared as the switch gets closer.
Added to Julia’s Wallet on Oct 18, 2026, when the news archive began. The date above is the issuer’s announcement date.