Here’s how Apple Card Family works
Apple has published some more information on its new Apple Card Family feature launching later this month, which allows users to share their Apple Card, track purchases, manage spending, and build credit together with their Family Sharing group.
In a new support document, Apple outlines exactly what owners and co-owners can do on a shared Apple Card, including, the ability to view participant activity and account co-owner activity, set transaction limits for participants, lock a participant’s ability to spend, receive notifications on participants spending, and more.
The document also highlights what participants can do on a shared Apple Card, reminding users that it’s important for everyone on Apple Card Family to understand how credit reporting can impact their credit file and that information about the Apple Card Family account, such as payment history and credit utilization, are reported to credit bureaus and shown in credit bureau reports for account owners and co-owners.
Available in the US in May, Apple Card Family allows two people to co-own an Apple Card, and share and merge their credit lines while building credit together equally. Apple Card Family also enables parents to share Apple Card with their children, while offering optional spending limits and controls.