Apple Introduces Apple Card Family, Expanding Eligibility to Spouses and Teenagers

February 22, 2025 EquityExplained

Apple’s New Chapter: Apple Card Family

Apple has been steadily building a position for itself as a financial services giant, centered around its digital wallet and the launch of the Apple Card in 2019. Today, during Apple’s spring event, the company announced the newest chapter in this story: the launch of Apple Card Family.

What is Apple Card Family?

Apple Card Family will allow partners or spouses to build joint credit and give family members over 13 years old access to using Apple Card. This new feature will be available first in the U.S. in May after users update to the latest version of iOS.

A Long Overdue Development?

The timing of this announcement is interesting, considering that last month, Apple and its partner Goldman Sachs were cleared of any gender bias in their credit scoring system for the Apple Card. However, the regulator noted that what the case highlighted was the more endemic gender and other disparities in the credit scoring system, particularly as they pertain to spouses and partners.

In light of this, some might say that the announcement today is not a surprise, and others might say it’s long overdue. This service announcement feels like Apple’s effort to seal the deal and draw a line under that story, formally laying out its intentions to be equitable even if regulations have yet to catch up.

A Message from Tim Cook

"One of the things that became apparent to us in the beginning [of launching Apple Card] was a lack of fairness in the way credit scores are calculated," said Tim Cook, Apple’s CEO. "We want to change that. With Apple Card Family, we’re giving users more control over their financial lives and helping them build stronger credit profiles."

How Does Apple Card Family Work?

Apple Card Family will allow users to add a partner or spouse as a co-owner of the Apple Card account. Both co-owners will receive Daily Cash for their Apple Card purchases, and all account activity will be reported to credit bureaus.

Kids added to the Apple Card Family program are considered participants, not co-owners. However, when they get old enough to start thinking about establishing their own credit or getting other credit cards (or their own Apple Card), they can elect to share their Apple Card spending with the credit bureaus.

A New Industry Standard?

The ability for kids to build credit history under parental oversight and control is a new industry standard. This feature has the potential to make it easier for young people to establish credit, which is essential for buying cars, apartments, and other big-ticket items.

What Does This Mean for Apple’s Fintech Ambitions?

The launch of Apple Card Family is another step in Apple’s expansion into the financial services industry. With its digital wallet and Apple Pay, Apple has already made significant strides in this area.

However, with Apple Card Family, Apple is taking on a more significant role in shaping the way people manage their finances. By providing a platform for users to build stronger credit profiles, Apple is positioning itself as a leader in fintech.

What’s Next for Apple?

As Apple continues to expand its presence in the financial services industry, we can expect to see more innovative features and products from the company. With Apple Card Family, Apple has set a new standard for fintech companies to follow.

Whether this move will be successful remains to be seen. However, one thing is clear: Apple’s entry into the financial services industry is here to stay, and it’s going to be an exciting ride.

Additional Reporting

This article was written by Ingrid Lunden, TechCrunch’s Europe Editor. Ingrid covers mobile, digital media, advertising, and the spaces where these intersect. You can follow her on Twitter @ingridlunden.

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