topic Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program in Credit in the News

JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

omegafalcon — Tue, 29 Jul 2025 14:34:09 GMT

https://www.wsj.com/finance/banking/jpmorgan-chase-nears-a-deal-to-take-over-apples-credit-card-program-0bbcdda8?mod=breakingnews

Awesome news

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

Horseshoez — Tue, 29 Jul 2025 15:21:47 GMT

Paywalled.

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

MarkintheHV — Tue, 29 Jul 2025 15:21:51 GMT

It will be interesting to see what kind of restrictions Chase puts on requirements to get the Apple card.

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

MarkintheHV — Tue, 29 Jul 2025 15:22:40 GMT

Here is a non paywalled link

https://www.investing.com/news/stock-market-news/jpmorgan-chase-nears-deal-to-take-over-apples-credit-card-program--wsj-4157871

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

CreditCuriosity — Tue, 29 Jul 2025 15:40:47 GMT

Bad idea for Chase unless Apple is willing to assume some of the losses of the lose UW standards Apple wants on their CC

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Progr

Jeffster1 — Tue, 29 Jul 2025 16:00:03 GMT

@CreditCuriosity wrote:
Bad idea for Chase unless Apple is willing to assume some of the losses of the lose UW standards Apple wants on their CC

However, good news for those of us with life sentences on the Barclays BL.

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

CreditCrusader — Tue, 29 Jul 2025 16:20:51 GMT

Chase is a pretty conservative lender.

What would this mean to current Apple cardholders who would otherwise not qualify for even a Chase co-branded card?

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

CreditCrusader — Tue, 29 Jul 2025 16:22:17 GMT

@MarkintheHV wrote:
It will be interesting to see what kind of restrictions Chase puts on requirements to get the Apple card.

I'm wondering if this means non-Chase qualified current Apple cardholders will have their accounts closed as a part of the deal.

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

Jeffster1 — Tue, 29 Jul 2025 17:09:34 GMT

@CreditCrusader wrote:
@MarkintheHV wrote:
It will be interesting to see what kind of restrictions Chase puts on requirements to get the Apple card.
I'm wondering if this means non-Chase qualified current Apple cardholders will have their accounts closed as a part of the deal.

Normally, in credit portfolio acquisitions, the acquirer does not apply its new applicant standards to the accounts being acquired. However, nothing says they can't. And nothing says they can't reassess those accounts down the line, or bucket them.

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

crystal626 — Tue, 29 Jul 2025 18:45:30 GMT

@Horseshoez wrote:
Paywalled.

Since sites like Archive.is are starting to be blocked by these publications you might consider getting a library card. Even my small local library gives me access to WSJ for 10 days at a time and the NYT for 3 days at a time. I just go to the newspapers section on the website, click the link the newspaper I want, and I'm good.

Anyway, I would be fine if my Apple Card went to Chase but it will suck to lose the small balance forgiveness that has paid for my $.99 iCloud for years lol

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

swankytiger — Tue, 29 Jul 2025 19:16:39 GMT

34% sub prime, 4% delinquent rate. I dont see how Chase wouldnt clean house if they take it.

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

Follower — Tue, 29 Jul 2025 19:18:35 GMT

Here's a hopefully-working gift link to OP's WSJ article:

https://www.wsj.com/finance/banking/jpmorgan-chase-nears-a-deal-to-take-over-apples-credit-card-program-0bbcdda8?st=b1Y4T4&reflink=desktopwebshare_permalink

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

mortimerwereback — Tue, 29 Jul 2025 21:14:16 GMT

@Jeffster1 wrote:
@CreditCrusader wrote:
@MarkintheHV wrote:
It will be interesting to see what kind of restrictions Chase puts on requirements to get the Apple card.
I'm wondering if this means non-Chase qualified current Apple cardholders will have their accounts closed as a part of the deal.
Normally, in credit portfolio acquisitions, the acquirer does not apply its new applicant standards to the accounts being acquired. However, nothing says they can't. And nothing says they can't reassess those accounts down the line, or bucket them.

Crossing fingers. This is what I was worried about as well. Rebuilt my credit after bk7 and have a nice chunky limit on my Apple Card. Would hate to lose it because I burned Chase in the bk7.

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

cashorcharge — Tue, 29 Jul 2025 22:10:47 GMT

@CreditCuriosity wrote:
Bad idea for Chase unless Apple is willing to assume some of the losses of the lose UW standards Apple wants on their CC

I forgot what Chase's unspoken limit of credit extended to Annual Income is and for those of us who are already up there with Chase Credit Limits....if we too would be part of a house cleaning as this conversion would potentially take me closer to that threshold

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

CreditCuriosity — Tue, 29 Jul 2025 22:14:07 GMT

@cashorcharge wrote:
@CreditCuriosity wrote:
Bad idea for Chase unless Apple is willing to assume some of the losses of the lose UW standards Apple wants on their CC
I forgot what Chase's unspoken limit of credit extended to Annual Income is and for those of us who are already up there with Chase Credit Limits....if we too would be part of a house cleaning as this conversion would potentially take me closer to that threshold

50-60% of gross is general thought.

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

cashorcharge — Tue, 29 Jul 2025 22:19:26 GMT

@CreditCuriosity wrote:
@cashorcharge wrote:
@CreditCuriosity wrote:
Bad idea for Chase unless Apple is willing to assume some of the losses of the lose UW standards Apple wants on their CC
I forgot what Chase's unspoken limit of credit extended to Annual Income is and for those of us who are already up there with Chase Credit Limits....if we too would be part of a house cleaning as this conversion would potentially take me closer to that threshold
50-60% of gross is general thought.

Ahhh okay....Thank you for the reminder. I am in the clear! Time for another Chase card

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

AndrewF — Wed, 30 Jul 2025 02:31:42 GMT

Is this possibly a way to get back in with Chase or will they slam the account shut since I burned them in my bankruptcy years back?

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

AndrewF — Wed, 30 Jul 2025 02:32:52 GMT

@MarkintheHV wrote:
It will be interesting to see what kind of restrictions Chase puts on requirements to get the Apple card.

Ability to pay, actually taking people who don't pay to court.

I expect there's probably going to be a surge of people getting taken to court over unpaid Apple cards. Goldman apparently had little experience dealing with the kind of horrible credit risks Apple told them to approve.

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

USMCOne — Wed, 30 Jul 2025 09:58:26 GMT

Suspect Chase will do some house keeping once they take over this if they do. Many cancelations, lowering of credit lines and taking ones who have not paid to court or throwing them to collection.

This product is not exactly a shinny thing being taken over its a giant turd with lots and lots of issues. There is only a downside for what they have to do to right the ship.

Expect the purge soon for the deadbeats.

Re: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

NoMoreDebt — Sun, 17 Aug 2025 18:47:53 GMT

I'm really hoping Chase ends up with it. I have been wanting to get back in with them but never seem to have had any "offers" through my credit journey page even before going over 5/24. I will be below that by years end again with a squeaky clean record so this could be a easy way in albeit a back door way. I have dusted off the card from sock drawer status and starting rolling spend on it in anticipation. Will be leaving Amex at least partially if not totally when it happens also. They have flown the coop on their AF's