JPMorgan reaches deal to become Apple credit card issuer, source says

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during the 2025 IIF annual membership meeting in Washington, DC, US, on Thursday, Oct. 16, 2025.JPMorgan Chase has reached a deal to become the new Apple credit card issuer, taking over from Goldman Sachs, according to a person familiar with the matter.Both banks declined to comment. The deal, nearing finalization after roughly a year of negotiations, means JPMorgan will offload about $20 billion of card balances at a more than $1 billion discoun ...