According to the WSJ JPMorgan Chase is in advanced talks to purchase the Apple card portfolio from Goldman Sachs. Goldman just sold the GM card portfolio to Barclays in a discounted deal worth $2 billion and is looking to exit the consumer card market altogether.
As part of the deal JPMorgan are looking for a number of concessions from Apple that include things such as spreading out card billing (currently all cardholders are billed at the start of the month).
William Charles
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