Apple Shares Details on Apple Card Family Features and How It Works

Apple introduced the new Apple Card Family at an event in April, a new feature for the company’s branded credit card that lets two people share an Apple Card and build credit together. Now, the Cupertino-based company has shared new details in a support document about the Apple Card Family features and restrictions. While the new functionality lets two people share an Apple Card and build credit together, it also lets children use a family Apple Card for purchases.

In the support document, Apple has shared some specifics on how the Apple Card Family will work. The company says that for co-account owners, each of the participants must be 18 years old or more. Apple also notes that both the users who “co-own” the account will have their credit reported equally in their own names. Further, each person will share the full responsibility for an account balance and all payments. In addition to credit utilization, credit reporting will include positive and negative payment history for both users. Check out the other features that the Apple Card Family offers:

Apple Card Family Features and Restrictions

In addition to bearing the full responsibility on the co-owned account, and having the users’ credit reported in their own name, Apple says that a co-owner is also eligible for Daily Cashback on purchases. The cashback ranges from 1% to 3%, which of course depends on the payment method and merchant. If you’re an owner or co-owner of an Apple Card then these are the additional features that you can use:

  1. You can add or remove participants and order a titanium Apple Card for other participants 18 years or older.
  2. You can view participant activity and account co-owner activity.
  3. You can set transaction limits for participants, lock a participant’s ability to spend, and more.
  4. You can request a credit limit increase.
  5. And lastly, you can close the shared Apple Card account at any time. But note that you’re still responsible for paying any remaining balance.

For participants, which means those Apple Card family users who are not co-owners, won’t be responsible for payments. But they can use a shared Apple Card. However, a participant must be at least 13 tears old. Here’s what features and benefits a shared Apple Card participant gets:

  1. He is not responsible for payments.
  2. He can view his own transactions and information.
  3. He can spend up to the credit limit on the account. However, an account owner or co-owner can set a transaction limit for the participant.
  4. Further, if they’re 18 years or older, they can order their own titanium Apple Card.

So overall, Apple says that everyone on the Apple Card Family can be impacted by credit utilization and payment history. However, participants will be exempt from this.

Punkaj Kumar

An engineer by profession, tech geek, writer, and a passionate blogger. I love to write on topics related to smartphones, computers, and innovative technology.

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