Apple Card is moving to Chase, here's everything we know

Apple Card, currently issued by Goldman Sachs, is transitioning to Chase over the next 24 months. This shift follows Goldman Sachs' reported losses of over $1 billion since 2020 due to higher-than-expected default rates and limited revenue generation. Apple Card users will not need to reapply for their cards, and the transition will not affect current benefits like no annual fee, no late fees, and no foreign transaction fees. The physical Apple Card will remain functional, and payments will continue as usual. Apple Card Savings Account customers will have the option to keep their existing accounts or open a new one with Chase.