You can now earn $10 to help family members build credit with Apple Card Family
Update: Some offers mentioned below are no longer available.
Earlier this year, Apple unveiled a key improvement to its credit card offering: Apple Card holders can now add additional members, including children, to their primary account.
The new feature, dubbed Apple Card Family, makes it easy for users to share one account with up to five other people that are 13 years of age or older. There are some terms to keep in mind, including that everyone must be part of the same Family Sharing group, but otherwise, the new functionality is pretty seamless.
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While Apple Card Family has now been available for nearly six months, Apple is sweetening the deal for those who are ready to add members to their Apple Card account.
Related: Worthy of the hype? Apple Card review
From Nov. 4 through Nov. 30, anyone who opens a new Apple Card and joins an Apple Card Family account — either as a participant or "Co-Owner" — will receive $10 cash back — called "Daily Cash" — after making a purchase within 30 days of being added to the group.
Note that this limited-time offer is only valid for new Apple Card users, and it will not apply to existing card accounts that merge as Co-Owners during the promotional period.
In addition to adding new participants (similar to the authorized user programs with other credit cards), you can designate one of your five picks as a Co-Owner.
This designee, who must be 18 or older, will build their own credit along with the primary owner, a key factor to opening additional credit card accounts of their own, acquiring mortgages and scoring favorable rates on other types of loans. (Other participants on your account can opt in to credit reporting, assuming they're 18 or older.)
Co-Owners are also able to manage the group's spending and merge their credit lines, while inheriting the lower of the two interest rates.
Related: How to add an Apple Card Family user
Adding a Co-Owner (or opting in to credit reporting for a participant) is a great way to build a good credit history, assuming that the group uses the Apple Card account responsibly. To boost your credit score, be sure to pay your balance on time and minimize your credit utilization.
While the Apple Card doesn't offer a travel rewards tie-in, simplicity is one of the card's key selling points. Since its introduction in 2019, Apple has been working to boost the card's appeal, primarily through the addition of more businesses that trigger the highest rewards tier, offering 3% cash back with a handful of additional merchants.
The latest move, a $10 incentive to add members to your account, might not be much, but at least it should get some members thinking about helping family and friends build their credit history.