topic Re: $10K CLI on Apple Card to $30K in Credit Card Approvals

$10K CLI on Apple Card to $30K

Aim_High — Wed, 28 Apr 2021 23:59:47 GMT

My Apple card was opened in August 2019 with SL of $20K.

I've been denied other increases but TBH had not put much spending on it until recently.

Requested my increase after heavier and regular usage.

Approved for $10K increase to $30K.

Now for the data points for anyone following Apple card CLI trends.

Some of you know I took it on myself to put together some reported community CLI data starting in the fall of 2019. In conclusion, I suggested that, for a successful increase request, it appeared best to put spending equal to at least 25% to 30% of the existing CL in the immediate months before asking for an increase. (In other words, if your limit is $4K, you would need to put at least $1K spend on the card; If your limit is $8K, you would need to put at least $2K of spend on the card; etc.) Also, it appeared that the heavier the relative spend to CL, the larger the potential increase. There were reports of members spending 100% of CL and doubling their limit. However, these were generally for cards with lower existing limits (less than $10K.) There have been fairly limited amount of reports of increases on cards like mine with SL of $20K or above, so I wanted to test it out. I've been gardening for eight months and this seemed a worthwhile diversion.

Apple was my first 2% or better uncategorized cash rewards card and the first I had used with mobile wallet. It seemed like it had some cool features that were new to credit cards and I was curious about it like many of our members. I had 16 statements starting Aug 19' until Nov 20' where I had put spending on the card every month except three, but the balances were usually under $100. The reason for the low spend was that I had refused to ever swipe the physical card since it only earned 1% rewards, and I became disenchanted with the availability of Apple Pay to get the 2% - 3% back. However, in my test, I swiped the card, used mobile wallet, and used it for online purchases including the 0% Apple installment plans, so I gave it a pretty good workout. And I was pleasantly surprised that the Apple Pay was more widely-available than I had initially thought, although I did run up my fair share of 1% transactions. There are a lot of features I learned more about and was impressed with the card itself, including the security features of no externally-visible numbers. Customer support has also been easy and excellent. The interface with my iPhone makes it very easy to manage and monitor the card as transactions post.

Between the months of December 2020 - mid April 2021, I charged (and repaid-in-full) my entire credit limit, actually 104% of it. ($20,965/$20,000.) The first two months, I paid my balance in full after statement cut but the others I paid either right before statement cut, or in the case of April I paid mid-month. (My monthly balances were approximately: $3950; $5086; $3751; $4454; $3724.) For the icing on the cake, I made a large installment plan purchase in April in addition to the above charges worth 45% of my CL ($9090/$20K.) So my grand total charges were 150% of CL over about 4.5 months, although only 104% of were repaid-in-full due to the installment plan.

I had hoped that amount of spend-and-repay might warrant a doubling of CL but they offered the $10K. If I'm not mistaken, that's also the highest CLI increment I've seen others post on My Fico. After talking to customer service reps, supervisors, and even an underwriter with no success, I think my test is additional confirmation that $10K per CLI may be an upper limit for approvals, regardless of spending and payments. This would make Goldman Sachs similar to some other lenders like Navy FCU or Capital One who have automated SP CLI processes that only allow increases up to a certain preset limit. Everyone I spoke with seemed genuinely unable to tell me more about the algorithms behind the automated system or to override the lending decision, similar to some of those other lenders. They just encouraged me to continue to use the card and reapply after 90 days. I hope this information is helpful to others in pursuit of higher limits on their Apple card accounts!

Edit to Add link to early data collection on Apple card CLIs:

https://ficoforums.myfico.com/t5/Credit-Card-Applications/Apple-Card-credit-limit-increase-DPs/td-p/5808169/highlight/false

Re: $10K CLI on Apple Card to $30K

AllZero — Wed, 28 Apr 2021 02:32:56 GMT

Congratulations on your monster CLI! Thank you for sharing the data points.

Re: $10K CLI on Apple Card to $30K

mrcraft — Wed, 28 Apr 2021 02:34:20 GMT

Congratulations on your CLI!! Thanks for sharing your analysis.

Re: $10K CLI on Apple Card to $30K

Anonymous — Wed, 28 Apr 2021 03:00:02 GMT

They should have doubled your limit. Congrats

Re: $10K CLI on Apple Card to $30K

Anonymous — Wed, 28 Apr 2021 03:01:42 GMT

Congratulations 🎉 on your CLI and TY for all the DP's and very helpful tidbits about spending. 🙏🏻

Re: $10K CLI on Apple Card to $30K

CreditAggie — Wed, 28 Apr 2021 03:26:49 GMT

Congratulations on your outstanding Apple Card CLI! Thank you for sharing!

I'm hoping to break five figures on the Apple Card this summer. I am planning to order an M1 iPad Pro so hopefully that will help!

Re: $10K CLI on Apple Card to $30K

gdale6 — Wed, 28 Apr 2021 03:16:54 GMT

Nice increase, enjoy

Re: $10K CLI on Apple Card to $30K

M_Smart007 — Wed, 28 Apr 2021 04:49:19 GMT

Congratulations on your Apple CLI !

Re: $10K CLI on Apple Card to $30K

SPChaser — Wed, 28 Apr 2021 05:42:42 GMT

Congrats on massive CLI! Definitely thanks for the data points.

Re: $10K CLI on Apple Card to $30K

Credit4Growth — Wed, 28 Apr 2021 05:48:06 GMT

🤯 Congratulations on the large bump in credit limit and as as always thank you for sharing viewpoint and journey to achieving this!

Re: $10K CLI on Apple Card to $30K

Total80sKid — Wed, 28 Apr 2021 08:21:23 GMT

Very nice increase! Congrats!!

Re: $10K CLI on Apple Card to $30K

Ficoproblems247 — Wed, 28 Apr 2021 11:36:45 GMT

Wow, that is an outrageous CL on that card! Congrats on an awesome increase, and as always thank you for your detailed insight and DPs you share with the group!

Re: $10K CLI on Apple Card to $30K

Vandevere321 — Wed, 28 Apr 2021 12:08:47 GMT

thx for the data points!!!

and congrats!!!

i didnt see the love button on my apple card wallet, what number did you call and did you recive a hard pullfor the CLI?

Re: $10K CLI on Apple Card to $30K

Anonymous — Wed, 28 Apr 2021 12:11:06 GMT

Congratulations!!

Re: $10K CLI on Apple Card to $30K

wantitgone — Wed, 28 Apr 2021 12:12:56 GMT

Congrats on the nice increase! And thanks for the DPs. I've had my card a few weeks and outside the installment plan for $399 (watch), I've used & paid off $1350 on my card, limit 1500. Seems like this is a good plan in anticipation of asking for a CLI when I can!

Re: $10K CLI on Apple Card to $30K

tbque — Wed, 28 Apr 2021 12:17:01 GMT

@Aim_High congrats on the sweet CLI and thanks for the thorough analysis!

Re: $10K CLI on Apple Card to $30K

Remedios — Wed, 28 Apr 2021 12:49:21 GMT

Congrats on your increase

Re: $10K CLI on Apple Card to $30K

CreditAggie — Wed, 28 Apr 2021 13:46:25 GMT

@Vandevere321 wrote:
i didnt see the love button on my apple card wallet, what number did you call and did you recive a hard pullfor the CLI?

To request an Apple Card CLI, go to your Apple Card in the Wallet app, tap the three dots in the upper right corner, then tap Message. Send a message "I would like to request an Apple Card credit limit increase." You will then receive a prompt to update your annual income and GS will submit your request.

Apple Card CLIs are SP on TU.

Re: $10K CLI on Apple Card to $30K

coreyb80 — Wed, 28 Apr 2021 15:32:38 GMT

Congrats on the solid increase!

Re: $10K CLI on Apple Card to $30K

Aim_High — Wed, 28 Apr 2021 19:02:58 GMT

@AllZero wrote:
Congratulations on your monster CLI! Thank you for sharing the data points.
- - - - - - - - - - - - - - - - - - - - - - - - -
@mrcraft wrote:
Congratulations on your CLI!! Thanks for sharing your analysis.
- - - - - - - - - - - - - - - - - - - - - - - - -
@Anonymous wrote:
They should have doubled your limit. Congrats
- - - - - - - - - - - - - - - - - - - - - - - - -
@Anonymous wrote:
Congratulations 🎉 on your CLI and TY for all the DP's and very helpful tidbits about spending. 🙏🏻
- - - - - - - - - - - - - - - - - - - - - - - - -
@CreditAggie wrote: Congratulations on your outstanding Apple Card CLI! Thank you for sharing!
I'm hoping to break five figures on the Apple Card this summer. I am planning to order an M1 iPad Pro so hopefully that will help!

Thanks very much @AllZero, @mrcraft, @Anonymous, @Anonymous, @CreditAggie!

I'm glad I've been able to help others along the way with my data point collection. I decided it was time to join the party! Lol Your progress on the card from $250 to $8K is remarkable, @CreditAggie and congrats on your success! That's a 32x CLI overall!

Yes, doubling would have been nice @Anonymous but I'll take the $10K for now. I don't think I'm going for another one in 90 days but I may focus on it again sometime in the next year or so.