Apple is giving its Tim Cook announced what the company calls Apple Card Family.credit card an update. At the start of , CEO
The new feature will allow "spouses and partners to share and merge their credit lines, have equal rights on their account and build credit equally," Cook said, adding that "this solution helps deliver financial equity."
As part of the Apple Card Family offering, Cook also revealed that the credit card can "now be used by anyone in your family over the age of 13, with optional spending limits and controls for kids." Managing the card is still done through the Wallet app on iPhones with up to five additional members, so long as they're all part of the same Family Sharing group.
Apple says that each user will earn their own Daily Cash cash back for the purchases they make on their Apple Cards. Existing Apple Card users who merge their credit cards could gain the "flexibility of a higher shared credit limit while keeping the lower APR of the two accounts."
Theas part of a partnership with Goldman Sachs; Apple touted it as a new way to approach credit cards. The card has no annual fee or charges for foreign transactions or late payments, and offers daily cash back on purchases. Sign-up, however, still requires having an Apple device.
The Apple Card Family feature will be available in May for Apple Card users in the US. See all of CNET's coverage from Tuesday's Apple event .