In a significant shift, Chase will replace Goldman Sachs as the issuer of the Apple Card, with the transition expected to take place in about 24 months. Current users of the Apple Card will be able to continue using their cards without interruption during this period, as confirmed by Apple.
Apple has committed to keeping customers informed as the transition date nears, providing updates through a newly created section on its website that addresses frequently asked questions. The transition will not require existing users to reapply for their cards, and payment networks will remain under Mastercard.
Users will maintain access to their Apple Card accounts via the Wallet app and can continue making purchases using the Apple Card Monthly Installments. Additionally, Apple Card will retain its no-fee structure, including no annual fees or late fees. Once the change is finalized, Chase will appear as the new issuing bank on users' credit reports, with no action required from them to facilitate the switch.