Apple Card Family What Users Can & Cant Do

Apple Card Family: What Users Can & Can’t Do

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Apple Card Family can be shared with co-owners and participants. Here’s a breakdown of the similarities and differences between each title.

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Apple Card Family What Users Can & Cant Do

Apple has shared more details about its upcoming Family feature for Apple Card, making it clear as to what users will (and won’t) be able to do once it launches. It sounds a lot like other credit cards that allow for joint accounts, but for someone that may not be familiar with how these things typically work, there is a lot to dig into.

Apple Card Family was first announced in April during Apple’s ‘Spring Forward’ event. In addition to unveiling a purple iPhone 12, redesigned iMacs, AirTags, and the 2021 iPad Pro, Apple also took some time to talk about new family sharing options for the Apple Card. Considering the Apple Card has remained mostly the same since its launch in August 2019, this is one of the biggest updates it’s seen to date.

In a new support document, Apple has shared specifics on how Apple Card Family will work when it launches later this month. There will be two sharing options, including the ability to add a co-owner or a participant. Up to six people can be associated with one Apple Card (including the main account holder) and sharing handled through Apple’s Family Sharing feature. Only one of those five other people can be a co-owner, and they’ll need to be 18 years or older. For everyone else that’s added as a participant, the only requirement is that they’re at least 13 years old.

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Differences Between Co-Owners And Participants With Apple Card Family

As the names suggest, co-owners can do more with a shared Apple Card than participants. Co-owners can immediately use the Apple Card once it’s shared with them, receive Daily Cash for their purchases, and generally use it as if it was their own credit card. They also have access to numerous admin controls, including the ability to add/remove participants from the Apple Card, view participant and other co-owner activity, set transaction limits for participants, request a credit limit, and even close the Apple Card. All of that power does come with a fair amount of responsibility, however. Apple notes that co-owners “share full responsibility for the account balance and all payments, even if one account co-owner does not pay.”

By comparison, Apple Card Family participants don’t have quite as much influence on the account. Participants can only view transaction info for their own spending, they can have spending limits set by the account owner(s), and they can start using the Apple Card + Daily Cash as soon as they’re added. Participants are not responsible for making Apple Card payments, nor do they have access to any of the admin features that co-owners do.

When it comes to credit reporting, this also varies between co-owners and participants. Co-owners are automatically subject to credit bureau reporting, including information like payment history and credit utilization. Participants that are 18 or older can also opt-in for credit reporting, which can help eligible members build up some credit history before going out and getting their own credit card.

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Link Source : https://screenrant.com/apple-card-family-users-co-owners-participants-differences/

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