What happened
Apple Card launched in 2019 with Goldman Sachs as the issuing bank. Goldman has since been pulling back from consumer lending. On January 7, 2026, Apple confirmed that Chase will become the new issuer, with the move expected in about two years. Apple said it would share more details as the date approaches. MacRumors put that at around early 2028 and noted that Goldman keeps handling customer service until then.
Apple's announcement listed what stays the same. Mastercard remains the payment network, and Daily Cash of up to 3% continues, as do Apple Card Family and the Savings account option. Apple Card Monthly Installments, which let you spread the cost of Apple products bought from Apple over monthly payments at 0% APR, also continue.
What changed for buyers
In practical terms, nothing changed on the day. 9to5Mac summarized Apple's guidance: keep paying your balance as usual, keep using your physical card and the Wallet app, and don't reapply. Apple also kept its no annual, late or foreign transaction fee terms.
Two changes come at the end of the transition:
- Your balance moves to Chase. Open balances will be held by Chase once the switch completes.
- Your credit report changes. Chase will appear as the issuing bank.
The open questions were Savings and card numbers. Apple Card Savings is a Goldman Sachs account. Apple said only that more details would come closer to the switch. Apple also said any change to card numbers would be communicated directly.
For anyone weighing Apple Card mainly to finance a new iPhone, Mac or iPad, the takeaway was simple. The installment plan wasn't going away.
Where things stand now (November 2026)
As of today, the switch has not happened. Apple's transition FAQ still says Chase becomes issuer in roughly 24 months from the announcement. It adds that the deal depends on closing conditions and regulatory approvals, and that Goldman Sachs services accounts until then. It says existing cardholders don't need to do anything, and new customers can still apply.
| Item | Status now |
|---|---|
| Issuer | Goldman Sachs Bank USA (Chase after the transition) |
| Network | Mastercard, unchanged |
| Daily Cash | Up to 3%, unchanged |
| Monthly installments on Apple products | Still offered at 0% APR |
| Savings | Still a Goldman account; details on the move to come |
| Card numbers | Any change to be announced closer to the date |
The FAQ lists a variable APR range of 17.74% to 27.99% as of October 1, 2026. That rate applies to ordinary purchases. Apple's iPhone store pages still describe Apple Card Monthly Installments at 0% APR. The fine print says taxes and shipping are charged at your card's variable APR, and that Apple can change installment terms at any time. Check the term length at checkout.
That matters more this year because Apple raised several prices in 2026. The iPhone 17 now starts at $899 and the MacBook Air (M5) at $1,299. Spreading the cost interest-free is one option. Our buy-now guide, price tracker and trade-in guide cover others, including Apple's refurbished store.
This is general information, not financial advice. Check the current terms with the issuer before applying for credit.
Bottom line
The Chase news was about who runs Apple Card, not how it works day to day, and so far nothing has changed for cardholders. If you already have the card, keep using it and watch for messages from Apple about Savings and card numbers as early 2028 nears. If you're considering it only to buy Apple gear with 0% installments, that option is still there. Pay attention to the regular APR on anything else you put on the card.
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