JPMorgan Chase is exploring a partnership model with private credit firms to underwrite co-branded credit card applications the bank initially rejects.
Private credit firms would receive a second look at denied applicants and assume all credit risk for any approved cards.
The initiative aims to satisfy co-brand partners like airlines and retailers who demand higher customer approval rates.
JPMorgan has reportedly approached executives at Blackstone, KKR, Blue Owl, and Sixth Street regarding the potential program.
The project remains in its early stages and may not proceed to a final launch.