Big news for Apple Card users! JPMorgan Chase is reportedly taking over the Apple Card portfolio from Goldman Sachs. This means Chase will be managing existing cardholder accounts and issuing new Apple Cards. The deal, valued at around $20 billion in outstanding balances, includes Chase acquiring these balances at a discount, which is unusual in the credit card world.

So, why should you care? Well, if you're an Apple Card holder, expect things to change. While the specifics are still under wraps, this could mean new features, benefits, or even a shift in the rewards program down the line as Chase integrates the Apple Card into its existing ecosystem. The WSJ also notes that a new Apple savings account will launch with this move, and while existing accounts at Goldman Sachs will remain, you'll have the option to open one with Chase independently. Keep an eye out for updates as the transition unfolds, because this could definitely impact your wallet!