Is the Apple Card issued by Goldman Sachs Bank USA?
The Apple Card is issued by Goldman Sachs Bank USA, Salt Lake City Branch, which handles the underwriting, credit evaluation, and customer credit card accounts. However, Apple and JPMorgan Chase announced a definitive agreement to transition the Apple Card program and its multi-billion-dollar portfolio over to Chase, with the complete operational transfer scheduled to take approximately twenty-four months. Until that migration concludes, Goldman Sachs continues to manage the existing accounts.
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Goldman Sachs acts as the key issuing financial institution behind high-profile consumer credit card programs, most notably the Apple Card (offered in partnership with Apple Inc.) and the General Motors (GM) credit card program.