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Apple Card
This is r2 (the current revision), saved by jack. Full history
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Apple Card
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| Operator | Apple · issuer transitioning from Goldman Sachs to JPMorgan Chase |
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| Launched | August 20, 2019 (United States) |
| Network | Mastercard |
| Features | Daily Cash 1–3% · no fees · titanium card · Savings account (2023) |
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Apple Card is Apple's credit card — designed like a product, not a bank offer: instant approval in Wallet, color-coded spending, no fees of any kind, cash back that lands daily, and a laser-etched titanium card for the moments plastic still matters. It made Apple Pay the card's native habitat and the physical card the backup.
1 History✎
Launched in 2019 with Goldman Sachs as issuer, the card added Family sharing, then a high-yield Savings account (2023) that drew billions in deposits within weeks. The partnership itself soured famously — Goldman's consumer retreat, a joint $89 million CFPB penalty in 2024 — and in January 2026 JPMorgan Chase agreed to take over the roughly $20 billion portfolio, with a multi-year transition that keeps cardholders' terms, rewards, and the Mastercard network intact.
2 Position✎
Apple Card remains U.S.-only and strategically outsized: proof Apple could productize banking UX, leverage for Apple Pay's economics, and a cautionary tale about partner dependence — the one Apple product whose backend belongs to whichever bank will have it.
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