Amid long-running reports that Apple and Goldman Sachs are working toward ending their Apple Card partnership, JPMorgan Chase is now in talks with Apple about taking over the credit card program, reports The Wall Street Journal.
A deal could still be months away, according to the report, but talks have accelerated in recent weeks as the two sides negotiate details of a potential agreement.
Chase is looking for certain concessions in order for a deal to be reached, including paying less than the $17 billion face value of outstanding balances of Apple Card holders and doing away with the synchronized Apple Card billing cycles that match the calendar months but have created customer service issues.
Apple has also spoken with Synchrony Financial and Capital One about the Apple Card program, while Goldman Sachs spoke with American Express last year as the two current partners on Apple Card have been exploring how to end their partnership, but it appears Chase is the current leader.
Popular Stories
iOS 18 Available Now With These 8 New Features For Your iPhone
Following over three months of beta testing, iOS 18 was finally widely released to the public on Monday, September 16. The update is available in the Settings app under General → Software Update on the iPhone XS and newer. Below, we have highlighted eight key new features included in iOS 18, and Apple shared a complete list of new features and changes last week. Note that Apple…
Here’s When iOS 18 Rolls Out Today in Every Time Zone
It’s that time of year again. Apple is about to release iOS 18, which promises to bring a range of new features and improvements to iPhones worldwide. It’s Apple’s biggest software update of the year, and the company is expected to release it sometime today – Monday, September 16. Based on past releases, the update is likely to drop at around 10:00 a.m. Pacific Time/1:00 p.m. Eastern…
10 Reasons to Wait for Next Year’s iPhone 17
Apple’s iPhone development roadmap runs several years into the future and the company is continually working with suppliers on several successive iPhone models simultaneously, which is why we sometimes get rumored feature leaks so far ahead of launch. The iPhone 17 series is no different – already we have some idea of what to expect from Apple’s 2025 smartphone lineup. If you plan to skip…
M4 Macs, New iPad Mini, and iPad 11 Expected at Upcoming Apple Event
Apple will likely hold another event in October this year to announce new Macs and iPads. If so, it would be the fourth time in the last five years that Apple has held an event in October. Last year, Apple held a virtual event on Monday, October 30 to announce new MacBook Pro and iMac models with the M3 series of chips. In his Power On newsletter today, Bloomberg’s Mark Gurman reiterated…
iPhone 16 Pro Demand Has Been Lower Than Expected, Analyst Says
Apple analyst Ming-Chi Kuo today said demand for the iPhone 16 Pro and iPhone 16 Pro Max has been “lower than expected” since the devices became available to pre-order in the U.S. and dozens of other countries on Friday. Kuo said his data is based on a “supply chain survey” and shipping estimates listed on Apple’s online store. Kuo estimated that sales of all four iPhone 16 models reached…
Apple Intelligence Features Expected to Roll Out in This Order Between iOS 18.1 and iOS 18.4
iOS 18 will be released to the public on Monday, but the first Apple Intelligence features will not be available until iOS 18.1 is released in October. Apple Intelligence features will continue to roll out in iOS 18.2 and beyond, with the expected roadmap outlined below per Apple’s website and rumors. Apple Intelligence requires an iPhone 15 Pro model or any iPhone 16 model, and it will…
