Details
Written by: RJ
Reports are out stating Apple is in talks with Chase to acquire the Apple Card portfolio. Chase is looking for discounted sales price, current portfolio is around $17 billion face value in outstanding balances. Additionally, Chase would want other changes like billing to move from start/end of calendar month for all accounts to a more staggered cycle date like most other card bills.
Thoughts
I still argue Chase would be the best fit. However, that would take Apple giving up some control to Chase likely for the ability to cross sell products. This current version of Apple seems much more money focused. Leading me to think this deal has potential.
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