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Credit Cards

Apple just introduced a new way for families to share the Apple Card and build credit together

The newly introduced Apple Card Family tool gives Apple Card users a way to teach the whole family how to build credit and manage a budget.

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Thomas Barwick | DigitalVision | Getty Images
Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We earn a commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners.

Apple on Tuesday announced Apple Card Family, a new way for people to share their Apple Card, track purchases, manage spending and even 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," said Jennifer Bailey, Apple's vice president of Apple Pay in the press release. "Apple Card Family lets people build their credit history together equally."

Apple Card Family will be available in the U.S. come May, and it will allow two people to co-own an Apple Card and share their credit lines. It's similar adding an authorized user to your credit card, with some important distinctions:

  • Apple Card customers can add up to five people above the age of 13 and in their Family Sharing group to their Apple Card account through their digital wallet.
  • Users over 18 can be added as co-owners and merge their credit lines to get the flexibility of a combined credit limit.
  • Parents can set spending limits and controls for their children's spending.
  • All members of the Family Sharing group can track spending on their iPhones.

All account activity, including positive or negative payment history, will be reported to credit bureaus for participants who opt in to credit reporting as well as all the Apple Card co-owners.

Apple Card also offers Daily Cash, which gives up to 3% cash back on eligible purchases made directly with Apple, including at Apple Store locations, on apple.com, the App Store, the iTunes Store, and for Apple services, plus 2% cash back every time cardholders use Apple Card with Apply Pay. 

Apple Card has also extended 3% Daily Cash for purchases made on the Apple Card with Apple Pay to select merchants, including Uber and Uber Eats, Walgreens, Nike, Panera, T-Mobile and ExxonMobil. For purchases made with the titanium Apple Card, users get 1% Daily Cash.

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. Both co-owners and Family Sharing group participants can get their own physical card.

If you're looking to get a little extra bang for your buck, while teaching the whole family about credit and responsible spending, now may be the time to look into the no-fee Apple Card.

Apple Card

Information about the Apple Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.
  • Rewards

    3% cash back on goods or services purchased directly from Apple (including Apple retail stores, the Apple online store, the App Store, iTunes, Apple Music and other Apple-owned properties) on Uber and UberEats, at Walgreens and Duane Reade stores, on the Walgreens app and on Walgreens.com, in T-Mobile stores, at Nike, at Exxon and Mobil stations and at Panera Bread, 2% cash back on Apple Pay purchases and 1% cash back on all other purchases

  • Welcome bonus

    None

  • Annual fee

    $0

  • Intro APR

    None

  • Regular APR

    10.99% to 21.99% variable

  • Balance transfer fee

    None

  • Foreign transaction fee

    None

  • Credit needed

    N/A

Terms apply.

Information about the Apple Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.