Apple shows how to add an Apple Card Co-Owner and Participant with Apple Card Family

With today’s release of iOS 14.6 (and other software updates), Apple has welcomed one of the newest features for its credit card, the Apple Card. Apple Card for the family is now here.

With Apple Card Family (which Apple announced earlier this year), an owner of Apple’s credit card has the ability to share that credit line with several people, as long as they are all part of the same Family Sharing group. Today, in light of the feature going live, Apple has published a pair of new videos to its official YouTube channel detailing how to add what it calls a “Co-Owner” and “Participant.”

Both of the new videos are under a minute in length, so they’re not lengthy by any means.

Adding a Co-Owner

The ability to add a co-owner will allow the initial owner to share their Apple Card with their spouse or significant other, letting them build credit together. They will need to share their annual income to be considered as a Co-Owner on an Apple Card, though.

Now, another important tidbit from today, which Apple paired with the above video: two existing Apple Card customers will be able to combine their credit limits into one, and form one co-owned Apple Card, beginning in July of this year.

As Apple puts it:

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.

So, something to be aware of for two people who already own an Apple Card.

Adding a Participant

Apple Card Family allows the card owner to share the card’s credit line with other people, which makes them a Participant. The requirements are simple enough: part of the Family Sharing group, and each person needs to be 13 years or older. The owner can then set spending limits for each individual, track spending, and much more.

All of this is handled via the Wallet app on an iPhone.

Both of these new Apple Card features are now live as part of Apple Card Family, which went live with iOS 14.6.