Apple Card Savings Account on iPhone 7

Based on -> Set up and use Savings in Apple Wallet -> Set up and use Savings in Apple Wallet - Apple Support

• . . . . and has the latest version of iOS or iPadOS.

So Apple Card Savings requires an iPhone with iOS 16.4 or later,

iOS 15.7.5 is the latest iOS security update for iPhone 7. 

You need also to have an iPhone with iOS 16.4 or later.

Based on -> How to apply for Apple Card -> How to apply for Apple Card - Apple Support

• If you apply online, use a supported browser. To access and use all Apple Card features, you need to add Apple Card to an eligible iPhone or iPad that you own with the latest version of iOS or iPadOS.