Within the next two years, JPMorgan Chase is set to assume the role of Apple Card’s issuer.

The user experience with Apple Card will remain largely unchanged. Users can continue to enjoy benefits such as up to 3% daily cashback on all purchases, spending management tools, and access to a high-yield savings account through Mastercard, providing global acceptance and additional perks.

New Features for Apple Card

Debuting in 2019, the primary goal of Apple Card was to promote financial well-being with features like no fees and real-time purchase tracking. It offers 3% daily cashback on every transaction that users can receive directly into their Apple Cash card, enabling seamless in-store, online, or app-based spending.

Apple expressed optimism about the partnership with Chase, stating that it aims to enhance the credit experience for customers by providing tools that encourage more informed financial choices. Both companies share a dedication to improving customer services and outcomes.

Cardholders can also use Apple Family sharing to connect their accounts with family members included in their Family Sharing group. The card offers an interest-free ACMI option, allowing users to finance purchases of Apple products over time. Opening a savings account grants them the option to automatically deposit all future cashback into this account.

During this transition period, current users will continue using the service as usual. Information updates will be shared closer to the transition date. The acquisition is expected to transfer approximately USD 20 billion in card balances to Chase, with an estimated provision of USD 2.2 billion for credit losses recognized in Q4 2025, subject to regulatory approval.