Apple card (family adding as joint owner) question

[eliteproxy]

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

[NoMoreE46]

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@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

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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.

[eliteproxy]

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.

[NoMoreE46]

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?.  

[Cashbackjunky]

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

[eliteproxy]

@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

[Cashbackjunky]

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@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

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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