Apple introduces Apple Card Family, enabling people to share Apple Card and build credit together
Apple announce Apple Card Family, an innovative new way for people to share their Apple Card, track purchases, manage spending, and build credit together with their Family Sharing group. 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 to help teach smart and safe financial habits. Apple Card Family is designed to help the Family Sharing group achieve a healthier financial life by making it easy to track spending, all on iPhone and with a single monthly bill.
“We designed Apple Card Family because we saw an opportunity to reinvent how spouses, partners, and the people you trust most share credit cards and build credit together. There’s been a lack of transparency and consumer understanding in the way credit scores are calculated when there are two users of the same credit card, since the primary account holder receives the benefit of building a strong credit history while the other does not,” said Jennifer Bailey, Apple’s vice president of Apple Pay. “Apple Card Family lets people build their credit history together equally.”
Apple Card is the first credit card designed for iPhone and to help people lead a healthier financial life. Built into the Apple Wallet app on iPhone, Apple Card has transformed the entire credit card experience by simplifying the application process, eliminating all fees, encouraging users to pay less interest, and providing a new level of privacy and security.
Apple Card also offers Daily Cash, which gives up to 3 percent of every purchase as cash on users’ Apple Cash card each day. And with no credit card number, CVV security code, expiration date, or signature on the card, the titanium Apple Card is more secure than any other physical credit card.