topic Re: Apple Goldman First CLI in Credit Card Approvals

Apple Goldman First CLI

SeaProbe — Wed, 19 Jul 2023 16:21:29 GMT

I've had this card since October, with a SL of 12,500. I requested a CLI last week and recieved the dreaded We need some more time to review your request for a credit line increase. This may take up to ten days.

Today I received an email saying my CL was increased to 14,500, for a 2k improvement.

GS seems rather stingy, at least in comparison to my other cards. I did purchase a new Mac on the 0% APR installment plan three months ago, so perhaps that balance is hurting me?

Re: Apple Goldman First CLI

Rdbeetle — Wed, 19 Jul 2023 16:31:08 GMT

Congrats on your Apple $2k CLI!

Re: Apple Goldman First CLI

coreyb80 — Wed, 19 Jul 2023 16:32:38 GMT

Congrats on the increase!

Re: Apple Goldman First CLI

CreditMagic7 — Wed, 19 Jul 2023 16:40:53 GMT

Congrats on your Apple CLI!

Re: Apple Goldman First CLI

BigBS — Wed, 19 Jul 2023 17:02:22 GMT

Congrats on the fruit CLI!

Re: Apple Goldman First CLI

mortimerwereback — Wed, 19 Jul 2023 17:49:19 GMT

@SeaProbe wrote:
I've had this card since October, with a SL of 12,500. I requested a CLI last week and recieved the dreaded We need some more time to review your request for a credit line increase. This may take up to ten days.

Today I received an email saying my CL was increased to 14,500, for a 2k improvement.

GS seems rather stingy, at least in comparison to my other cards. I did purchase a new Mac on the 0% APR installment plan three months ago, so perhaps that balance is hurting me?

Congratulations on your CLI! Goldman likes to see a lot of spend prior to a CLI request. Couldn't say for sure if it was the 0% plan. @Aim_High posted a very detailed analysis of his Apple Card journey a while back.

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Apple-Card-CLI-to-40K/td-p/6458540

My experience has been similar to @Aim_High . I've a lower limit, but I've had easy CLIs every six months.

Re: Apple Goldman First CLI

FireMedic1 — Wed, 19 Jul 2023 20:41:07 GMT

Congrats! Take what you can get.

Re: Apple Goldman First CLI

Aim_High — Wed, 19 Jul 2023 21:27:29 GMT

@mortimerwereback wrote:
@SeaProbe wrote:
I've had this card since October, with a SL of 12,500. I requested a CLI last week and recieved the dreaded We need some more time to review your request for a credit line increase. This may take up to ten days.
Today I received an email saying my CL was increased to 14,500, for a 2k improvement.
GS seems rather stingy, at least in comparison to my other cards. I did purchase a new Mac on the 0% APR installment plan three months ago, so perhaps that balance is hurting me?
Congratulations on your CLI! Goldman likes to see a lot of spend prior to a CLI request. Couldn't say for sure if it was the 0% plan. @Aim_High posted a very detailed analysis of his Apple Card journey a while back.
https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Apple-Card-CLI-to-40K/td-p/6458540
My experience has been similar to @Aim_High . I've a lower limit, but I've had easy CLIs every six months.

Congratulations on your Apple CLI, @SeaProbe!

What @mortimerwereback said is correct about my understanding and observations about Apple CLIs dating back to the early days of the card in a 2019 message thread where data points from many of our members were compiled. I wouldn't call GS/Apple "stingy" but like some other lenders, they are known for being sensitive to how the account has been used in recent history. On the high end, heavy usage can double a credit limit or even more, and at higher credit lines I've seen $10K increases. That is far from stingy, especially for a soft pull CLI. Your $2K/$12.5K increase is a 16% increase, so I think it's respectable for a soft pull increase. Many of my other lenders have given $1K to $3K increases on soft pulls including CITI, Capital One, and Discover.

On the other hand, from my personal experience and from other member postings, no usage almost guarantees a denial of any CLI. So a general rule of thumb is that they will reciprocate the generosity that you show them in using the card, and that seems to favor new charges versus use of special financing. That makes sense if you consider from their vantage point that 0% financing helps them to sell a product, but it ultimately costs them some money, while swiping the card is purely a revenue generator.

What is the current utilization on the card including the 0% offer? Off the top of my head, I seem to remember some members have reported no additional credit approval if their Apple UTI was over about 30% until it was paid down but I may be mistaken. So your CLI might have been inhibited by the account UTI.

Re: Apple Goldman First CLI

SeaProbe — Wed, 19 Jul 2023 22:15:36 GMT

@Aim_High wrote:
What is the current utilization on the card including the 0% offer? Off the top of my head, I seem to remember some members have reported no additional credit approval if their Apple UTI was over about 30% until it was paid down but I may be mistaken. So your CLI might have been inhibited by the account UTI.

Thank you @Aim_High and @mortimerwereback for the helpful and thorough replies!

My overall utilization was last reported via Experian at 17%, but that's with a couple of installment payments paid plus new purchases (new purchases are always PIF). So say a high of around 20% after the initial purchase…

At any rate, the 0% installment plan - with the daily cash paid at purchase - is a huge benefit of this card. So I'll use it to my benefit first and CLI second.

Re: Apple Goldman First CLI

Aim_High — Wed, 19 Jul 2023 23:09:03 GMT

@SeaProbe wrote:
Thank you @Aim_High and @mortimerwereback for the helpful and thorough replies!

My overall utilization was last reported via Experian at 17%, but that's with a couple of installment payments paid plus new purchases (new purchases are always PIF). So say a high of around 20% after the initial purchase…

At any rate, the 0% installment plan - with the daily cash paid at purchase - is a huge benefit of this card. So I'll use it to my benefit first and CLI second.

Glad to help, @SeaProbe. Yes, finances come first.

When you do get ready for pursuing an increase, using about 25% to 30% (MINIMUM) of the existing credit line and pay-in-full will often yield a nominal increase. Heavier spend, say 50% to 100% of CL may yield more. In your case, since they only give CLI every six months now (as opposed to previous three month), 30% x $14,500 = $4,350 total spend or over 6 months, at least $725 per month average. And $2,416 per month on-average would spend 100% of the $14,500 CL so could net you as much as a $10K increase. But, as always, YMMV.

Re: Apple Goldman First CLI

KingRue8500 — Wed, 19 Jul 2023 23:19:26 GMT

Congrats on your Apple Card CLI

Re: Apple Goldman First CLI

eastda — Wed, 19 Jul 2023 23:53:12 GMT

Congrats on your CLI!

Re: Apple Goldman First CLI

NoMoreDebt — Sat, 22 Jul 2023 11:46:52 GMT

Congrats on the cli

Re: Apple Goldman First CLI

JoeRockhead — Sat, 22 Jul 2023 11:49:59 GMT

Nice, congratulations!

Re: Apple Goldman First CLI

cashorcharge — Mon, 24 Jul 2023 15:53:41 GMT

WooHoo!! Congratulations on your Approval!!👏🏼🍾🥂

Re: Apple Goldman First CLI

CreditAggie — Mon, 24 Jul 2023 21:50:16 GMT

Congratulations on your Apple CLI!