Apple Card is officially moving to Chase, with Apple’s current partner, Goldman Sachs, moving over the next two years. Apple has released details on what to expect during the transition. Here’s everything the company says won’t change once Chase takes over, plus a few things that might.
What’s not changing for Apple Card users after Chase’s transition, plus some uncertainties
Apple’s website has a page called “Apple Card Issuer Transition” where the company reveals a lot of information about what to expect when transitioning from Apple Card to Chase.
Some details still remain undetermined. For example, on whether card numbers will change, Apple says: “Details regarding card number changes, if any, will be communicated directly to users as the transition date approaches.” »
Several other responses from Apple use similar language. Regarding whether the physical Apple Card will change, Apple says: “Any changes or additional information regarding the new physical cards will be shared with Apple Card users closer to the transition date. » There is also uncertainty about the impact on the Apple Card savings account. So all of these things could ultimately change.
Apple also has this general disclaimer at the top of the page:
The following provides more information about using Apple Card during the transition period. Additional details regarding the transition will be shared with all Apple Card users as the transition date approaches.
That said, the following questions on the website seem to offer clearer guidance on what is not change for Apple Card users.
Here are the questions and answers cited directly on the Apple site:
Will Daily Cash rewards be affected?
- “Users will continue to earn up to 3% unlimited daily cash back on every purchase. »
Will Apple Card continue to be free?
- “Apple Card will continue to have no fees – no annual fees, no late fees, no foreign transaction fees.”
What will be the payment network for Apple Card?
- “Mastercard will continue to be the payment network.”
How will this affect my privacy and data?
- “Apple’s commitment to privacy and security remains unchanged. We are working closely with Chase and Goldman Sachs to ensure a seamless and secure transition of account data.”
What about interest-free monthly payments for Apple products?
One of my favorite current features of Apple Card is the ability to purchase Apple products with interest-free monthly payments.
Here’s what Apple says about it:
Will Apple Card Monthly Installments (ACMI) still be available?
- “Apple Card users can continue to purchase Apple products with monthly Apple Card installments when they choose to pay with ACMI at Apple Store locations, on apple.com, and in the Apple Store app.”
Depending on how you read it, it looks like Apple Card monthly payments are still available. But it’s less secure than everything else mentioned above.
The optimistic view would focus on the word “will” used in the question. This suggests a forward-looking question. However, unlike some of the answers above which also use the word “will”, Apple’s answer here opted for “may”. This appears to limit the response to the current transition period.
In the end, I could see that either interpretation turned out to be correct. But I certainly hope Apple Card monthly payments are still available. And it’s obviously in Apple’s best interest to make it as easy as possible to sell more products.
Are you an Apple Card user and if so, what features do you most hope to stay the same with Chase? Let us know in the comments.
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