Apple has lost its top spot in J.D. Power’s annual U.S. Credit Card Satisfaction Study for the first time in four years. The Apple Card, issued by Goldman Sachs, scored 624 points out of 1,000, placing third among co-branded credit cards with no annual fee. Hilton Honors American Express led the category with 641 points, followed by Costco Anywhere Visa by Citi with 629. Apple’s score dropped 30 points compared to last year, reflecting broader struggles with its credit card program.
Satisfaction Gap
J.D. Power’s 2025 study shows a growing divide in satisfaction between financially healthy cardholders and those facing economic strain. The survey, conducted between June 2024 and July 2025, collected responses from 37,293 credit card customers. While overall satisfaction across all credit cards rose just one point to 611, financially healthy customers saw a nine-point gain, driven by better experiences with credit limits, account management, and rewards. Financially unhealthy customers, who make up more than half of cardholders, reported lower satisfaction, particularly in credit limit and balance transfer categories.
According to J.D. Power, 53 percent of cardholders are carrying revolving debt and 56 percent are classified as financially unhealthy. Increased financial volatility and declining household incomes contributed to a $68 year-over-year drop in average monthly credit card spending, now at $1,058. Use of Buy Now, Pay Later services also grew, with 20 percent of customers using such payment plans in the past year.
Market Shifts and Apple’s Future in Credit Cards
Apple’s decline in rankings comes amid uncertainty over the future of its credit card partnership. Reports indicate Apple is in talks with JPMorgan Chase to take over the Apple Card program as Goldman Sachs seeks to exit its consumer credit business after sustained losses. The card’s initial success was boosted by seamless iPhone integration and cashback rewards, but competitive pressure from established players like American Express and Citi has intensified.
American Express ranked highest among all credit card issuers in this year’s study with a score of 643, marking its sixth consecutive segment award. In co-branded categories, Hilton Honors American Express dominated, while Capital One Savor Rewards and Citi/AAdvantage Executive World Elite Mastercard led their respective segments.
For me, Apple Card has two problems. The rewards are slightly better than average if you’re using it with Apple Pay for regular spend: 2%. It matches Citi Double Cash and the equivalent Chase card. But for Apple purchases, 3% is way low. Industry standard is 5%+.
The bigger problem is that you can’t auto-download transactions into Quicken. And the problem is exacerbated by the Daily Cash practice which creates a bunch of tiny transactions to track. I’m hoping that Chase takes over and addresses this second issue, if not both.