topic Re: Apple Card CLI - $42K and data points in Credit Card Approvals

Apple Card CLI - $42K and data points

Aim_High — Tue, 06 Feb 2024 16:32:41 GMT

I received a small $2K CLI on my Apple card, taking it from $40K to $42K.

I've had the Apple card since 2019 but have generally not given it heavy spend. Early data points that I helped assimilate from the community seemed to indicate it took pretty heavy spend of the existing credit limit. I was recommending members strive for new charges of a minimum of 25% to 30% of the current credit limit in-between CLI requests to get an approval, with heavier spending leading to larger increases. It has appeared that Apple card caps out at $10K increments every six months, and that data point still stands. My SL was $20K and, not being a heavy user of Apple Pay at that time and not wanting to sacrifice a lot of rewards with the 1% on physical card, only ran up the utilization twice to get $10K CLIs to $30K and finally $40K. My last increase was over two years ago (Dec 2021). Since then, I had other credit priorities and also believed I would have to run up a lot of spending to get any CLI. I just periodically put some small swipes on it to keep it alive.

Perhaps Goldman Sachs has modified their approval framework or perhaps the guidelines we developed in the early days don't apply as much with larger credit limits. (Most early Apple card approvals were relatively low, often under $10K. There are still appear to be few of us with Apple cards over $25K.) Either way, I requested a CLI last week (01/30/24) after putting what I thought was insufficient spend to qualify. I fully expected a denial but it was more for the data points. Instead, I was approved for a nominal $2K CLI! However, this also gave me the opportunity to reevaluate my previous guidelines.

Here is my rough Apple card spending by month for the past two years, since I got the last increase:

Jan 24 - $755

Dec 23 - $64

Nov 23 - $2

Oct 23 - $40

Sep 23 - $56

Aug 23 - $4

... so in the past six months, I only charged $921

Ten months (Oct 2022 - Jul 2023): Absolutely ZERO usage.

Sep 22 - $10

Aug 22 - $0

Jul 22 - $4

Jun 22 - $2

Six months (Dec 2021 - May 2022): Absolutely ZERO usage.

Total charges in the past 24 months, since last CLI:

$937 / $40,000 = only 2.3% of my credit limit

Based on my old calculations, I would have needed to spend $10K (25%) to get anything. So perhaps, the spending amount or the ratio is less dependent on the credit limit that I expected, or shifts as CL increases. Either way, it appears I may have overestimated the spend needed to get a CLI. I'll try again in six months after putting some heavier spend through it and see what happens.

By the way, that moves Apple card from my 10th largest credit limit to my 9th largest, ahead of my $41.7K PenFed Power Cash Rewards.

Apple_Card_CLI_20240130_42K_01.jpeg

Apple_Card_CLI_20240130_42K_02.jpeg

Re: Apple Card CLI - $42K and data points

CardHunter — Tue, 06 Feb 2024 03:01:55 GMT

Very nice! Congrats on you CLI!

Re: Apple Card CLI - $42K and data points

CorpCrMgr1 — Tue, 06 Feb 2024 11:22:02 GMT

Congratulations on your CLI! Nice APR also!!

Re: Apple Card CLI - $42K and data points

JoeRockhead — Tue, 06 Feb 2024 13:09:36 GMT

Congratulations on another Apple CLI! Great info and DPs as usual.

Re: Apple Card CLI - $42K and data points

BigBS — Tue, 06 Feb 2024 14:23:09 GMT

Congrats on the CLI!

Re: Apple Card CLI - $42K and data points

Aim_High — Tue, 06 Feb 2024 17:33:12 GMT

@CardHunter wrote:
Very nice! Congrats on you CLI!
= = = = = = = = = = = =
@CorpCrMgr1 wrote:
Congratulations on your CLI! Nice APR also!!
= = = = = = = = = = = =
@JoeRockhead wrote:
Congratulations on another Apple CLI! Great info and DPs as usual.
= = = = = = = = = = = =
@BigBS wrote:
Congrats on the CLI!

Thanks very much @CardHunter, @CorpCrMgr1, @JoeRockhead, and @BigBS!

Re: Apple Card CLI - $42K and data points

SeaProbe — Tue, 06 Feb 2024 21:43:50 GMT

Congratulatoins on your CLI!

You inspired me to try, as it has been well more than six months since my last Apple Card CLI. I was denied with the classic "You have not used and paid enough of your Apple Card credit limit since your last credit limit increase" so it appears that regular spend is still expected, at least for some of us.

For reference, my current CL is 14.5K and I spend about $500/month. I also have a few months left on an installment plan from last spring's purchase of a Mac Mini.

Re: Apple Card CLI - $42K and data points

Eric958 — Tue, 06 Feb 2024 21:57:29 GMT

Congrats on the Cli. Thanks for the DP. E!

Re: Apple Card CLI - $42K and data points

IntegerIntrovert — Tue, 06 Feb 2024 22:45:08 GMT

Nice data points. Thanks and congratulations!

Re: Apple Card CLI - $42K and data points

nytokyobred79 — Wed, 07 Feb 2024 02:20:18 GMT

Congrats on your cli and the overall card growth. Appreciate the dp's as always.

Re: Apple Card CLI - $42K and data points

coldworld — Wed, 07 Feb 2024 21:22:19 GMT

Congrats on SL increase! You inspired me to chase the $100k CSR haha. I'm about half way there...

Re: Apple Card CLI - $42K and data points

Openwater — Thu, 08 Feb 2024 02:56:53 GMT

Congrats, that's an amazing CLI

Re: Apple Card CLI - $42K and data points

KingRue8500 — Thu, 08 Feb 2024 03:41:10 GMT

Congrats on your Apple Card CLI

Re: Apple Card CLI - $42K and data points

cashorcharge — Fri, 09 Feb 2024 19:36:13 GMT

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

Re: Apple Card CLI - $42K and data points

NoMoreDebt — Sat, 10 Feb 2024 14:06:02 GMT

Congrats on your cli

Re: Apple Card CLI - $42K and data points

Aim_High — Sat, 10 Feb 2024 20:09:08 GMT

@SeaProbe wrote:
Congratulations on your CLI!

You inspired me to try, as it has been well more than six months since my last Apple Card CLI. I was denied with the classic "You have not used and paid enough of your Apple Card credit limit since your last credit limit increase" so it appears that regular spend is still expected, at least for some of us.

For reference, my current CL is 14.5K and I spend about $500/month. I also have a few months left on an installment plan from last spring's purchase of a Mac Mini.
  = = = = = = = = = = = =
@Eric958 wrote:
Congrats on the Cli. Thanks for the DP. E!
  = = = = = = = = = = = =
@IntegerIntrovert wrote:
Nice data points. Thanks and congratulations!
   = = = = = = = = = = = =
@nytokyobred79 wrote:
Congrats on your cli and the overall card growth. Appreciate the dp's as always.

Thanks so much @SeaProbe, @Eric958, @IntegerIntrovert, @nytokyobred79!

Thanks for that feedback and contributions to the thread data points, @SeaProbe. I've gotten that message many times myself. Just keep trying. With your level of spend, they should eventually give you a CLI.

Re: Apple Card CLI - $42K and data points

Aim_High — Sat, 10 Feb 2024 20:20:34 GMT

@coldworld wrote:
Congrats on SL increase! You inspired me to chase the $100k CSR haha. I'm about half way there...
= = = = = = = = = = = =
@Openwater wrote:
Congrats, that's an amazing CLI
= = = = = = = = = = = =
@KingRue8500 wrote:
Congrats on your Apple Card CLI
= = = = = = = = = = = =
@cashorcharge wrote:
WooHoo!! Congratulations @Aim_High on your Approval!!👏🏼🍾🥂
= = = = = = = = = = = =
@NoMoreDebt wrote:
Congrats on your cli

Thanks very much @coldworld, @Openwater, @KingRue8500, @cashorcharge, and @NoMoreDebt !

Best wishes on your $100K CSR, @coldworld!

Yes, Apple card can grow quite well with some spending and regular SP CLIs. I know some disdain it, but there are many things I like about Apple card and there are some unique attributes. See these two postings I made in a discussion about Apple card: >Link 1<; >Link 2<.

Re: Apple Card CLI - $42K and data points

firefox100 — Sun, 11 Feb 2024 05:39:12 GMT

Congratulations very nice going have fun with it.

Re: Apple Card CLI - $42K and data points

CreditAggie — Sat, 24 Feb 2024 03:25:35 GMT

Congratulations on your Apple Card CLI! I have always found your Apple Card data points to be fascinating.

Re: Apple Card CLI - $42K and data points

jinglebellss — Sat, 24 Feb 2024 10:38:50 GMT

Unrelated Question: Why do you have relatively lower limits on biz cards?