Overview

• Apple and JPMorgan Chase have held negotiations since early 2024, with discussions intensifying in recent months toward a potential agreement.
• Apple has identified JPMorgan as its preferred successor to Goldman Sachs for issuing the Apple Card, although no contract has been finalized.
• Key terms under discussion include whether JPMorgan will assume the Apple Card Savings Account alongside the credit card itself.
• Goldman Sachs has sought to exit the partnership after incurring over $1 billion in losses and facing regulatory penalties in its consumer finance division.
• A completed deal would rank among the largest co-brand credit card arrangements ever and further entrench JPMorgan as the leading U.S. card issuer.