Apple Card is moving to Chase, here’s everything we know
Summary
Apple has confirmed that Chase will replace Goldman Sachs as the issuer of Apple Card in about 24 months. This transition promises significant changes for users, as detailed by the publication. Stay tuned for updates on this development.
Key Insights
What happens to Apple Card benefits like cash back and no fees during the transition to Chase?
During the approximately 24-month transition period, Apple Card users can continue to earn up to 3% unlimited Daily Cash back on purchases, access Apple Card Monthly Installments, and enjoy the no-fee structure, with Mastercard remaining the payment network. However, Apple has indicated that additional details will be shared later, and benefits could potentially change after the transition.
Will the unique Apple Card statement and payment due dates change with the switch to Chase?
Currently, all Apple Card holders share the same statement and payment due date at the end of each month, which is uncommon in the industry and has contributed to customer support challenges. It is unclear if Chase will retain this uniform schedule or allow customizable due dates post-transition.
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