topic Re: Apple card (family adding as joint owner) question in Credit Cards

Apple card (family adding as joint owner) question

eliteproxy — Thu, 27 Oct 2022 13:31:46 GMT

I have an Apple Card with a limit of 3k, got it 3 months ago.
My mom also applied today and she got a 20k limit her account just opened.

am I correct in assuming this..

if i invite my mo as a family memeber and joint acount holder,

her account number will hange,
our new limit will be our combined limits (20k+3k)
on both our reports, the account open date will show my card date since I invite her and my card had 3 more month of history.

is this corret?

Re: Apple card (family adding as joint owner) question

NoMoreE46 — Sat, 29 Oct 2022 02:24:25 GMT

IIRC, @Cashbackjunky was one of the first to go through the process. He may be able to explain the ins and outs of this.

Re: Apple card (family adding as joint owner) question

Cashbackjunky — Sat, 29 Oct 2022 02:38:21 GMT

Thanks for the tag @NoMoreE46! @eliteproxy both accounts will retain their respective account numbers and open dates reported to the bureaus

I invited my wife as a family member to my card, since I opened my card in July and she opened hers in December. Her report still shows her card opening in December and mine shows my card opened in July, still.

No new cards/numbers were issued to either of us.

Our limits were combined. All purchases your mom makes will show in your Apple card history and vice versa, FYI.

Good luck!

Re: Apple card (family adding as joint owner) question

eliteproxy — Sat, 29 Oct 2022 02:47:50 GMT

thank you @Cashbackjunky! and thank you @NoMoreE46 for tagging them in!

I researched this so much, called multiple times and chatter with support and none of them had a clear answer as you did! thank you!

I have one last question..

once my mom and I combine the accounts and our credit limits and balances combine... can we then invite my brother and will it work the same way?

my limit is 5k & my moms limit is 20k after combining our limits should be 25k

my brother has a limit of 15k, can I add invite him after and we will al have a combine 45k limit?

Re: Apple card (family adding as joint owner) question

Cashbackjunky — Sat, 29 Oct 2022 02:52:29 GMT

Glad to help @eliteproxy. I've not added another family member, so I can't speak to that with certainty.

I THINK you can add multiple family members and have to imagine the CL's would all combine.

Report back if/when you all join cards. I'm interested now

Re: Apple card (family adding as joint owner) question

ThomasJNewton — Sat, 29 Oct 2022 15:26:06 GMT

This is really interesting. How has it affected credit line increases (if you have tried for one)? Also, what gets reported to the bureau for the account's credit line, each person's individual limit or the combined limit?

Re: Apple card (family adding as joint owner) question

Cashbackjunky — Sat, 29 Oct 2022 15:28:45 GMT

@ThomasJNewton wrote:
This is really interesting. How has it affected credit line increases (if you have tried for one)? Also, what gets reported to the bureau for the account's credit line, each person's individual limit or the combined limit?

We've tried for line increases since combining and haven't received one. We have an installment for our iPhones and have heard GS doesn't like a balance to be carried if they're going to grant a CLI. $25k is more than enough for us on the Apple card though.

The combined ($25k) limit shows on both of our reports

Re: Apple card (family adding as joint owner) question

ThomasJNewton — Sat, 29 Oct 2022 16:24:28 GMT

@Cashbackjunky wrote:
We've tried for line increases since combining and haven't received one. We have an installment for our iPhones and have heard GS doesn't like a balance to be carried if they're going to grant a CLI. $25k is more than enough for us on the Apple card though.

My BF got approved for an $8,500 limit, but is likely to need something higher when he replaces his Mac Pro. I am pretty sure I do not yet qualify, as I have one derogatory - a ~$380 medical charge that is the result of a dispute between the provider and the insurance company that I am not paying out of principle - that should fall off in January when medical debt under $500 goes away. I have only one card - a Navy Federal Cash Rewards with a $25,000 limit and a $0 balance (one month and counting) :-) - so I hope that when that comes off my credit, my score will go up enough to let me qualify.

The combined ($25k) limit shows on both of our reports

That is really cool. Do you happen to know what their rules are for adding "family" to one's card? Does one have to be married or a blood/legal relative or do friends for whom one is willing to take responsibility work?

Re: Apple card (family adding as joint owner) question

Cashbackjunky — Sat, 29 Oct 2022 18:09:28 GMT

@ThomasJNewton I'm not certain the exact stipulations on who can be added but I THINK you can add a BF.

It's worth noting that they can't be uncombined. IF things go south and you end up breaking up (I don't wish that upon anyone), the accounts cannot be uncombined and would likely be best to just close the account

ETA: Sorry @eliteproxy, I'm not trying to take over your thread

Re: Apple card (family adding as joint owner) question

NoMoreE46 — Mon, 31 Oct 2022 03:40:25 GMT

@ThomasJNewton wrote:
That is really cool. Do you happen to know what their rules are for adding "family" to one's card? Does one have to be married or a blood/legal relative or do friends for whom one is willing to take responsibility work?

The person has doesn't have to be a relative- just anyone you designate as in your Family Sharing Group.

When added, this person must be designed as the Co-owner or as a Participant.

Co-owner is essentially an AU who must at least 18 while 13

is the minimum age for Participant. You can have a total of six people (Owner,

Co-owner plus 4 Participants) on one account.

For Participants, there's the option to set a spending limit as $25, $50, $100, $250 or none for each purchase.

Re: Apple card (family adding as joint owner) question

eliteproxy — Tue, 08 Nov 2022 12:50:38 GMT

Ok so after going through the full process here are the key points to know

1. You can only be part of 1 joint apple card accoint. So if you and your spouse have a joint account, you can not also be a joint holder with lets say your mom

2. only 2 people can be joint holders.

3. They try to combine the limits if it is under 25k, otherwise they do a soft pull and do a balance increae calculation. For example

I had 5k and my mom had 20k in limit, in invited her .. now we boht have 25k

my friend had 20k and his wife had 20k, when they joined the account they had 30k limit

4. Whoever is the one "inviting" that is the history and open date used for both tradelines on your credit report

so, if you had your card for longer I recomend you invite a family member vs them inviting you.

5. your account # changes but it still proceeds to update the exisiting tradeline

6. I would HIGHELY recomend setting a limit on the card once you join the accounts. I set ours to 5k and anything north of that we have to discuss with the other account holder

7. When you add afamily member and request for them to join, it will ask you for a TOTAL income.. I would recomend putting both households (if the person your inviting does not live with you), this number the other person also has to enter so make sure to coordinate

8. even after the invite you still have time to back out after the new limit is presented.

let me know if i missed something lol

Re: Apple card (family adding as joint owner) question

NoMoreE46 — Wed, 09 Nov 2022 15:12:41 GMT

@eliteproxy wrote:
Ok so after going through the full process here are the key points to know

1. You can only be part of 1 joint apple card accoint. So if you and your spouse have a joint account, you can not also be a joint holder with lets say your mom

2. only 2 people can be joint holders.

3. They try to combine the limits if it is under 25k, otherwise they do a soft pull and do a balance increae calculation. For example

I had 5k and my mom had 20k in limit, in invited her .. now we boht have 25k
my friend had 20k and his wife had 20k, when they joined the account they had 30k limit

4. Whoever is the one "inviting" that is the history and open date used for both tradelines on your credit report
so, if you had your card for longer I recomend you invite a family member vs them inviting you.

5. your account # changes but it still proceeds to update the exisiting tradeline

6. I would HIGHELY recomend setting a limit on the card once you join the accounts. I set ours to 5k and anything north of that we have to discuss with the other account holder

7. When you add afamily member and request for them to join, it will ask you for a TOTAL income.. I would recomend putting both households (if the person your inviting does not live with you), this number the other person also has to enter so make sure to coordinate

8. even after the invite you still have time to back out after the new limit is presented.

let me know if i missed something lol

Thanks for your sharing this experience and details @eliteproxy.

The limiting of a CL > $25000 when combined is a new DP to me.

Point 5 of getting new card numbers appears to contradict what others have experienced as well.

Congratulations on your $25000 limit now. Enjoy.

Re: Apple card (family adding as joint owner) question

eliteproxy — Wed, 09 Nov 2022 15:27:08 GMT

reagriding Poin 5

point 5 of getting new card numbers appears to contradict what others have experienced as well.

"5. your account # changes but it still proceeds to update the exisiting tradeline"

When i invited my mom, her accont was essnetila reaplaced by this new joint account. The credit card numbers will stay as they were before but the new joint account is basically an upgraded version if your account, and that upgraded version will have a new account number.

Re: Apple card (family adding as joint owner) question

NoMoreE46 — Wed, 09 Nov 2022 21:50:24 GMT

Sorry, still not quite following @eliteproxy .

There is a card number.

There is a virtual card number.

What is the 'new account number' part of the upgrade?

Is it something like an account identification number that TD Bank does for the Redcard?.

Re: Apple card (family adding as joint owner) question

Cashbackjunky — Wed, 09 Nov 2022 22:20:58 GMT

Yes, thank you for the DP's @eliteproxy!

I will say, my wife and I experienced something different for point 4.

I opened my card in July of 2021 and she opened hers in December.

I invited her to my card, just in case that gained her the extra 5 months of age.

I just had her pull a fresh report to confirm. Her account is still showing opened in December and mine is showing opened in July.

As always, YMMV

Re: Apple card (family adding as joint owner) question

eliteproxy — Sun, 13 Nov 2022 21:45:49 GMT

@Cashbackjunky so i experienced some similar as well BUT i was told by apple taht give it another billing cycle and it will reflect the expected parameters

Re: Apple card (family adding as joint owner) question

Cashbackjunky — Sun, 13 Nov 2022 23:28:47 GMT

@eliteproxy wrote:
@Cashbackjunky so i experienced some similar as well BUT i was told by apple taht give it another billing cycle and it will reflect the expected parameters

Interesting. My wife and I must be outliers. I think it was January that we combined. Unless this is a new policy that will be reflected in all new account combinations ?

I love how uncertain everything can be, at times. It keeps things interesting