Apple has confirmed that Chase will become the new issuer of Apple Card, taking over for Goldman Sachs. Apple says the transition will occur “in approximately 24 months.”
“During this transition, Apple Card users can continue to use their card as they normally do,” Apple says. “Additional details regarding the transition will be shared with all Apple Card users as the transition date approaches.”
Apple announced the news in a press release, following a report from The Wall Street Journal earlier today. Here’s Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet:
“We’re incredibly proud of how Apple Card has transformed the credit card experience for customers by delivering innovative tools that empower users to make healthier financial decisions. Chase shares our commitment to innovation and delivering products and services that enhance consumers’ lives. We look forward to working together to continue to provide a best-in-class experience and exceptional customer service with Apple Card.”
Apple has also published a new page on its website with answers to frequently asked questions about Apple Card’s transition to Chase.
Here are some tidbits:
Existing Apple Card users do not need to reapply.
Mastercard will continue to be the payment network.
You should continue to pay your balance as you do today. Once the transition is complete, Apple Card balances for open accounts will be with Chase.
You will continue to have access to Savings. Further information regarding Savings will be communicated as the transition date approaches.
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