Apple Card Family is an exciting new way for people to share their Apple Card with their Family Sharing community, monitor transactions, control expenses, and build credit together. Apple Card Family, which will be available in the United States in May, allows two individuals to share and combine their credit lines while building credit together. Apple Card Family allows parents to share their Apple Card with their children while also allowing them to set spending limits and controls to help teach them good financial habits. Apple Card Family is designed to help members of the Family Sharing community live a healthy financial life by making it simple to monitor expenses and paying a single monthly bill.
Apple Card is the first credit card developed specifically for iPhones, to assist people in living a healthy financial life. Apple Card, which is integrated into the iPhone’s Wallet app, has revolutionized the credit card experience by streamlining the application process, removing all fees, allowing consumers to pay less interest, and offering a new level of privacy and protection.
Daily Cash is another feature of Apple Card, which allows users to receive up to 3% of their purchases as cash on their Apple Cash card each day. The titanium Apple Card is more secure than any other physical credit card because it contains no credit card number, CVV security code, expiration date, or signature.
How To Manage Apple Card Family
- Customers who share Apple Card with others in Wallet can add up to five people to their Apple Card account. To be welcomed to Apple Card Family, all users must be members of the same Family Sharing community and be 13 years old or older.
- As a co-owner, an Apple Card can be exchanged with any qualifying consumer who is 18 years or older, allowing both to create credit history together, benefit from the versatility of a joint cap, provide insight into each other’s expenses, share payment accountability, and provide the convenience of a single monthly bill to pay.
- Apple Card can be shared with anyone aged 13 or older as a participant, allowing them to learn how to spend independently and safely while also providing transparency and features that enable co-owners to monitor their spending cap. Credit monitoring is also available to participants over the age of 18.
- For participants who opt into credit monitoring, as well as all Apple Card co-owners, all account activity, including positive or negative payment history, will be reported to credit bureaus.
- Customers who already have an Apple Card can combine their accounts, allowing them the versatility of a higher mutual credit limit while maintaining the lower APR of the two accounts.
- Daily Cash will be provided to co-owners and participants for their Apple Card purchases.
- As part of the Apple Card Family, Apple partnered with Goldman Sachs as the issuing bank, which makes all eligibility and credit decisions.
Also Read: How Did Apple Earn $89.6 Billion in Sales
Unlimited Daily Cash with Apple Card
Daily Cash is an Apple Card feature that returns up to 3% of any transaction as cash on the Apple Cash card. Users can earn an unlimited amount of 2 percent Daily Cash when they use Apple Card with Apple Pay, as well as an unlimited amount of 3 percent Daily Cash for all transactions made directly with Apple, such as at Apple Store locations, on apple.com, the App Store, the iTunes Store, and for Apple services.
Apple Card has expanded 3 percent Daily Cash to more retailers and apps, including Uber and Uber Eats, Walgreens, Nike, Panera, T-Mobile, and ExxonMobil, for consumers who pay with Apple Card using Apple Pay. Users receive 1% Daily Cash for transactions made with the titanium Apple Card.
Daily Cash is deposited into users’ Apple Cash cards every day and can be used right away for Apple Pay transactions, crediting their Apple Card balance, or sending to friends and family via Messages. Apple Pay is now approved in over 90% of stores in the United States.
Apple Card provides experiences that are only possible because of the iPhone’s capacity, such as 24/7 support by simply sending a text from Messages. Apple Card uses machine learning and Apple Maps to clearly mark purchases in Wallet with retailer names and locations, as well as include weekly and monthly spending summaries, to help people better understand their spending.
There are no annual, late, international, or over-the-limit fees associated with the Apple Card. Apple Card displays a variety of payment options and measures the interest rate on various payment amounts in real-time in Wallet to assist people in making educated decisions.