All articles tagged with #credit card partnership
Apple Card's partnership with Goldman Sachs is likely to end in 2026, with JPMorgan Chase as the preferred successor, though challenges remain due to the high percentage of subprime customers and associated losses. The future of Apple Card may involve changes such as increased fees and less generous terms, with potential new partners like Capital One considered if JPMorgan Chase falls through.
American Airlines has chosen Citigroup as its exclusive credit card partner, ending its partnership with Barclays. The airline anticipates a 10% annual growth in payments from its co-branded credit card and other partners, having earned $5.6 billion in the past year. Following the announcement, American Airlines' shares rose over 6% in premarket trading.
Apple is ending its credit-card partnership with Goldman Sachs, signaling the end of the bank's attempt to expand into consumer lending. The tech giant has proposed to exit the contract within the next 12-to-15 months, covering their entire consumer partnership, including the credit card launched in 2019 and the savings account introduced this year.
Walmart has filed a lawsuit in federal court to terminate its credit-card partnership with Capital One, citing the bank's failure to meet critical standards for customer care. The two companies entered into a contract in 2018 that made Capital One the sole issuer of Walmart's private label and co-branded credit cards.