Apple on Thursday provided additional details on Apple Card Family, a new feature for the company’s branded credit card that allows users to “co-own” an account alongside family members.
Detailed in a support document, Apple Card Family is available to one cardholder and one member of their Family Sharing group who is 18 or older. Touted as a rethinking of traditional credit cards, the new service enables both members of an account to share a credit line while simultaneously building credit.
A total of six people, including owners or co-owners, can be assigned to a particular Apple Card account. Participants must be 13 or older.
Co-owners share full responsibility for account balance and payments, and have their credit reported equally in their own name, Apple says. Once assigned to an account, a co-owner is eligible for Daily Cash back on purchases, which can range from 1% to 3%, depending on payment method and merchant.