Seen a separate topic with a similar question applicable for AMEX.
Does anyone know if the Apple Card has the capability of setting up limit restrictions for AU's, as opposed to allowing free reign of the full CL?
Yes, you can set up individual transaction limits and/or total monthly spend limits in the wallet app.
@YoungMoney06 wrote:Seen a separate topic with a similar question applicable for AMEX.
Does anyone know if the Apple Card has the capability of setting up limit restrictions for AU's, as opposed to allowing free reign of the full CL?
Yes, you can. But, it's different from other banks that may offer that capability. With the Apple card, last time I checked, you can only set a transaction limit for "Participants." So, they can't charge more than a set limit for a single purchase, however, they can make multiple purchases as long as they're below the set limit. This isn't ideal if you want to give someone a set monthly allowance, for example.
Then, the other thing I'm not sure I like is that each AU earns their own cashback even if you're paying for the charges. So all their purchases earn cashback form them and not you.
ETA... it looks like you can set a monthly spending now too.
Actually, it looks like I was right the first time. You can set notifications for monthly spending, but not a limit.
I believe you can set a limit for a participant. Here's a video link from Apple explaining it... Apple Card for Participants Hope this helps.
