A deal for JPMorgan to take over the Apple Card and its huge book of loans would further burnish the bank's reputation as a leader in American finance.

JPMorgan Chase is talking to Apple about taking over the tech giant’s credit card program, according to an exclusive report in The Wall Street Journal. A deal of this size wouldn’t just impact the two companies at the heart of the agreement, it could leave JPMorgan Chase’s competitors at a disadvantage.

JPMorgan Chase is in advanced talks to take over Apple's credit card program from Goldman Sachs , the Wall Street Journal reported on Tuesday, citing people familiar with the matter.