## JPMorgan Chase to Take Over Apple Card from Goldman Sachs
Here’s a breakdown of the recent deal:
- The Deal: JPMorgan Chase is acquiring the Apple Card business from Goldman Sachs.
- Financials: JPMorgan will take over over $20 billion in card loans. The deal is expected to take about 24 months to close and will result in a $2.2 billion provision for credit losses for JPMorgan. Goldman Sachs expects the transaction to boost its earnings by 46 cents per share.
- Customer Impact: Apple Card customers will continue to enjoy the card’s existing perks and will still operate on the Mastercard network.
- Strategic Implications: This deal strengthens JPMorgan’s position as a leading credit card issuer and allows Goldman Sachs to further pivot away from consumer finance.
- Negotiations: JPMorgan was the last bank standing after other issuers, including American Express, Synchrony, and Barclays, exited the negotiations. JPMorgan is taking over the Apple Card portfolio at a discount of more than $1 billion.
- Future Plans: JPMorgan is also planning to offer an Apple savings account.
For more details, you can read the original article [here](insert_article_link_here).
Source: https://www.cnbc.com/2026/01/07/jpmorgan-apple-credit-card.html