Exclusive | JPMorgan Chase Reaches Deal to Take Over Apple Credit Card

JPMorgan Chase

JPM

increase; green up pointing triangle has reached a deal to take over the Apple

AAPL -0.50%

decrease; red down pointing triangle credit-card program from Goldman Sachs GS -0.66%decrease; red down pointing triangle, further cementing JPMorgan’s status as a behemoth in the credit-card sector and marking the final chapter of Goldman’s failed experiment in consumer lending.

The biggest bank in the country will become the new issuer of the tech-giant’s credit card, one of the largest co-branded programs with some $20 billion in balances.