In the Wallet app you can go to Card Information for the Apple Card. There you can see the card number, expiration, and security code. Next to the Security Code is an icon that looks like a clock with arrows around it
What is this supposed to mean or do? I thought it might change the security code like a one time use number, but it doesn’t seem to do that.
Does anyone know? Thanks very much.
It means that Advanced Fraud Protection is turned on. See the following from Use Advanced Fraud Protection with Apple Card - Apple Support
You'll know your rotating security code is turned off when you no longer see the clock icon 
next to your three-digit security code. If you're viewing your security code on a device that doesn't have the latest version of iOS, iPadOS, or WatchOS you may not see the clock icon next to your security code.
It means that Advanced Fraud Protection is turned on. See the following from Use Advanced Fraud Protection with Apple Card - Apple Support
You'll know your rotating security code is turned off when you no longer see the clock icon next to your three-digit security code. If you're viewing your security code on a device that doesn't have the latest version of iOS, iPadOS, or WatchOS you may not see the clock icon next to your security code.
Thank you FoxFifth. So it does create a randomized security code, just on some time schedule of its own, not on demand. Very neat.
Thanks again for the instantaneous reply.
Glad I could help -- it's a rare occurrence when I'm able to find some information that you hadn't!
what does the clock with arrows icon mean?
