Apple is reportedly preparing a major Apple Card signup push that would effectively give new customers free AirPods Pro 3, a sharp shift in strategy as Chase prepares to take over the troubled program from Goldman Sachs. The rumored offer, reported by Bloomberg's Mark Gurman, would provide $249 in cash back when customers sign up for a new Apple Card and purchase AirPods Pro 3, effectively offsetting the full retail price. This promotion, expected to launch in retail stores during the week of May 18, represents one of the largest public Apple Card signup incentives since the card's 2019 launch, moving beyond previous referral bonuses of around $75 to $200.

The shift comes as JPMorgan Chase prepares to take over the Apple Card program from Goldman Sachs, which has struggled with losses and operational issues issues. Apple Card is entering a new phase under Chase, with the partnership ending due to Goldman Sachs' financial strain from rising delinquency rates and operational challenges. The $249 cash back offer, while substantial, may be partially covered by Chase to secure long-term Apple Card users, reflecting standard industry practices where issuers invest heavily in customer acquisition for future returns.