{
  "id": 9323209,
  "title": "JPMorgan Weighs Opening Card Business to Private Credit",
  "url": "https://urgent.news/2026/09/23/jpmorgan-weighs-opening-card-business-to-private-credit",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-23T10:57:27.000Z",
  "source": {
    "name": "PYMNTS",
    "slug": "pymnts",
    "url": "https://www.pymnts.com/news/2026/jpmorgan-weighs-opening-card-business-to-private-credit/"
  },
  "original_language": "en",
  "account": "J.P. Morgan Chase is reportedly mulling over the idea of venturing into the card business aimed at private credit, as per a report by The Wall Street Journal on September 22. The financial institution's strategy could potentially grant private credit space access to an additional consumer debt market. The WSJ believes this move could alleviate a longstanding point of disagreement between J.P. Morgan and its credit card partners such as retailers and airlines. The report suggests that while merchants use card programs to attract more customers, there is often friction with banks due to the differing credit approval standards. According to sources familiar with J.P. Morgan's initiatives, the bank has reached out to several companies to explore the possibility of \"second-look applications\", allowing these firms to accept the risk of approving applications that J.P. Morgan rejects. If J.P. Morgan were to partner with a private credit firm, it would represent a significant shift in the acceptance of private credit within mainstream finance, as noted by the WSJ. Notably, J.P. Morgan's co-brand partners include United Airlines, Marriott, and Amazon. The WSJ cites the Apple-Goldman relationship as an example of the tension between merchants and banks, highlighting how Apple's push for Goldman to approve nearly every card applicant led to greater exposure to subprime customers. Although J.P. Morgan's rejection rates have strained its relationship with United Airlines, the two companies have reportedly taken steps to address the issue. The bank's plans for a second-look program are reportedly still in the early stages and may not materialize. J.P. Morgan has not confirmed these plans, with a spokesperson denying any such intentions. In other credit-related news, a recent study by PYMNTS revealed that card issuers may lose a customer's spending without necessarily losing the customer. The report, \"The Switching Trigger\", found that 58% of consumers who switched their primary credit card in the past two years actually switched to an existing card rather than obtaining a new one.",
  "summary": "J.P. Morgan Chase is reportedly exploring whether other funding sources could approve some of the cards it rejects. That’s according to a report late Tuesday (Sept. 22) by The Wall Street Journal (WSJ), which notes that the banking giant’s plan could give the private credit space access to a new slice of consumer debt. The […] The post JPMorgan Weighs Opening Card Business to Private Credit…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}