Apple announced that JPMorgan Chase will become the new issuer of Apple Card, replacing the current issuing bank, with the transition expected to take place over approximately 24 months.

Apple said Apple Card users will continue to receive the same benefits during and after the transition, including up to 3% unlimited Daily Cash back, integrated spending and budgeting tools in Apple Wallet, Apple Card Family features, and access to a high-yield savings account. Mastercard will remain the payment network, ensuring continued global acceptance and existing card benefits.

The companies said the partnership reflects a shared focus on innovation, customer experience, and consumer financial health. Apple emphasized that there will be no immediate changes for users, who can continue using their Apple Card as usual while additional details will be communicated closer to the transition date.