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I just got my 11 today too. I did not apply for the Apple Card until just now. I would assume they would just have that card transferred over once you sign into icloud and go into your wallet on the iPhone.
Yes, as it’s up “in the Icloud”. Congratulations on your new phone!!
It is a very straightforward process. Moves from old phone to new phone very easily.
I was up and running before I left the store