Apple is reportedly preparing a major Apple Card sign-up campaign that would effectively give new customers free AirPods Pro 3, a dramatic shift in strategy as Chase prepares to take over the struggling program from Goldman Sachs.
Apple has largely avoided the big sign-up bonuses commonly used in the credit card industry. Early marketing for the Apple Card focused on privacy features, Daily Cash rewards, wallet integration, spending transparency, and the physical titanium card.
Bloomberg‘s Mark Gurman claimed on May 15 that Apple planned to launch a promotion in retail stores during the week of May 18. Customers who sign up for a new Apple Card and purchase AirPods Pro 3 are rumored to receive $249 in cash back, offsetting the full retail price of the earbuds.
Neither Apple nor JPMorgan Chase have publicly confirmed the promotion. Still, the reported offer would represent one of the biggest public incentives to sign up for the Apple Card since the credit card launched in 2019.
There have been bonuses for referrals that go to the new cardholder, but they are usually around $75 and can reach $200 with several conditions. The new, more aggressive offer could represent a change in strategy.
Apple Card enters a new phase under Chase
Apple confirmed in January 2026 that JPMorgan Chase would take over the Apple Card wallet over the next 24 months. The move ends a partnership that has become increasingly difficult for Goldman Sachs to maintain after years of losses and operational problems linked to the cards sector.
Reports related to the transition indicate that Goldman sold about $20 billion in Apple Card balances at a significant discount after delinquency rates climbed higher than expected.
Analyst estimates when Apple Card first rolled out suggested that Goldman Sachs spent around $350 to acquire each new customer. The AirPods Pro 3 promotion would still represent a significant acquisition cost, although potentially lower than the figures associated with the initial launch period.
Apple wouldn’t necessarily absorb the entire $249 retail cost internally. A banking partner such as Chase could also cover part of the cost of the promotion in exchange for acquiring long-term Apple Card customers.
Credit card issuers routinely spend hundreds of dollars up front to gain new customers. Banks can justify this cost when interchange fees, interest charges, subscriptions and long-term retention generate more revenue over multiple years.
Apple Stores become customer acquisition channels
The announced promotion would also expand the role of Apple retail stores beyond hardware sales and technical support.
Apple Stores already function as integration centers for services such as AppleCare, iCloud+, Apple One and device financing. A large-scale, hardware-related Apple Card sign-up campaign would push stores to function more as customer acquisition channels.
The timing also fits with Apple’s broader business strategy. Smartphone growth has slowed globally and Apple has relied more on recurring revenue from services and ecosystem retention to support its long-term growth.
Products such as Apple Card, Apple Pay, high-yield savings accounts and installment financing now play a larger role in Apple’s services growth strategy. The company will likely rely on more aggressive customer acquisition promotions in the future, at least if this rumor turns out to be true.