Overview
- JPMorgan Chase was reported by The Wall Street Journal to be in advanced talks to take over the Apple Card partnership, though no agreement has been announced.
- Goldman Sachs has been pulling back from consumer lending after steep losses, and Apple is reportedly open to ending a contract that otherwise runs through 2030.
- Barclays and Synchrony were previously named as potential successors, but their current status is unclear.
- Visa and American Express have reportedly shown interest in the payment-network role now handled by Mastercard.
- Any new issuer could revise features, interest rates, rewards, and customer service, and uncertainty surrounds the high-yield savings account, which currently offers about 3.65% APY.