Chase to Issue Apple Card as New Partner
Chase has officially been announced as the new issuer of the Apple Card, with a transition period set to take around 24 months. This partnership aims to enhance the user experience while maintaining the beloved features of the Apple Card.
Features of Apple Card
Apple Card offers several attractive benefits for users:
- Up to 3% unlimited Daily Cash back on every purchase.
- Access to innovative spending tools.
- Family sharing options through Apple Card Family.
- A high-yield savings account feature.
The card will continue to utilize Mastercard as its payment network, ensuring global acceptance and robust benefits for users.
Statements from Partners
Jennifer Bailey, Apple’s Vice President of Apple Pay and Apple Wallet, expressed pride in how Apple Card has transformed the credit card experience. She emphasized their commitment to innovation and delivering quality products that improve consumers’ lives.
Allison Beer, CEO of Card & Connected Commerce at Chase, also shared excitement about this partnership, highlighting their mutual focus on consumer financial wellness and the potential for future innovations.
Linda Kirkpatrick, Mastercard’s President of the Americas, acknowledged the longstanding partnership with Apple and expressed eagerness to continue improving the consumer payments experience.
About Apple Card
Launched in 2019, Apple Card has gained popularity due to its user-centric design and commitment to privacy and security. Key features include:
- No fees associated with using the card.
- Simple tracking of purchases and management through Apple Wallet.
- Daily Cash that can be deposited directly to the Apple Cash card for easy spending.
- Apple Card Monthly Installments (ACMI) for interest-free payments on Apple products.
Savings Feature
Another important aspect of the Apple Card is the ability to open a savings account. Users can have their Daily Cash automatically deposited into this account, providing more financial options.
What to Expect During the Transition
During the transition period to Chase as the issuer, Apple Card users can continue using their cards seamlessly. For more information, Apple encourages users to visit their transition FAQs available at learn.applecard.apple/transition.
As the transition date approaches, Apple will provide additional updates and details to ensure a smooth experience for users.
