What you need to know
- Apple has dropped two new how-to videos for Apple Card Family.
- The video show users how to add a co-owner and how to add a participant.
Earlier today, Apple released iOS 14.6. The latest update to the iPhone software introduced Apple Card Family, Apple's newest feature for its credit card. In order to help users get started with Apple Card Family, Apple has dropped two new videos on how to add a co-owner and how to add a participant.
The first video shows users how to add a co-owner to Apple Card. The feature is great for spouses or partners who can build equal credit with the feature. Apple does note that, if both people already have an Apple Card, they'll have to wait until July before it is possible to merge their accounts.
Co-Ownership means you can share an Apple Card account with your spouse or partner and build credit equally.
Coming July 2021: You will be able to invite another Apple Card owner to combine credit limits and form one co-owned account in an upcoming iOS release. Each co-owner is individually liable for all balances on the co-owned Apple Card including amounts due on the existing co-owner's account before the accounts are merged. Each co-owner will be reported to credit bureaus as an owner on the account. In addition, co-owners will have full visibility into all account activity and each co-owner is responsible for the other co-owner's instructions or requests. Co-ownership involves risk, including payment history and other information about your Apple Card, including negative items like missed payments. Addition of a new co-owner is subject to credit approval and general eligibility requirements. For Apple Card eligibility requirements, see support article HT209218. Either co-owner can close the account at any time which may negatively impact your credit and you will still be responsible for paying all balances on the account.
The other video shows users how to add a participant to a card. This feature allows parents to share Apple Card with their kids while setting parental controls on the card.
You can add iCloud Family members over 13 to your Apple Card and help teach responsible spending habits.
If you want to use Apple Card Family, you'll need to update to iOS 14.6.