topic What did I just do?! in Credit Card Applications

What did I just do?!

Anonymous — Mon, 24 Feb 2020 15:56:56 GMT

Hi all,

I've seen many posts regarding the Apple Card by GS. In these posts, I've seen screenshots with exact term offers, so I was curious. I just went into my iPhone Wallet app to see what terms I'd be offered. It asked me for some of my info, then I hit accept. Once I did that a loading screen came up saying something like "Sending application to Goldman Sachs." However, I didn't see an offer like those posted here on the forums. As soon as I seen that message, I closed the app. When I reopened, the apply for Apple Card was still there. I'm just very confused right now. Why didn't see the offer first, or was I supposed to let the page load?

Re: What did I just do?!

Anonymous — Mon, 24 Feb 2020 16:06:34 GMT

You needed to let the page load. It submits the app and then shows you an offer to accept or decline after doing a SP on TU and pulling some other sources.

Re: What did I just do?!

Anonymous — Mon, 24 Feb 2020 16:10:52 GMT

ah ok..so no hard pulls unless you accept offers for apple card?

almost like a prequalify app?

Re: What did I just do?!

Ficoproblems247 — Mon, 24 Feb 2020 16:14:10 GMT

Just to add to that, too, when it tells you your limit and APR, make sure you click on offer terms and conditions. It will give you your TU FICO 9 score on the last page. Another thing to note is that when you're done reviewing, just swipe out of (or click your home button depending on which device you have) of the wallet app. This way you can come back to it anytime you want during the next 30 days until the app expires. If you decline, you will simply not be able to go through the process again for 30 days. I've applied 4 times already, all with increasingly enticing offers.

Re: What did I just do?!

Ficoproblems247 — Mon, 24 Feb 2020 16:20:26 GMT

@Anonymous wrote:
ah ok..so no hard pulls unless you accept offers for apple card?

almost like a prequalify app?

You're exactly correct. It's popular to app for the card because you get to see your limit and APR before you accept or decline. A free TU FICO 9 pull isn't too bad either! Hopefully GS doesn't get sick of people going through the motions repeatedly (although the general population probably wouldn't abuse that the same as we do.)

Re: What did I just do?!

Anonymous — Mon, 24 Feb 2020 16:23:30 GMT

thanks for the dp.

might have to check it out just to see haha

Re: What did I just do?!

Anonymous — Mon, 24 Feb 2020 16:27:30 GMT

@Anonymous wrote:
ah ok..so no hard pulls unless you accept offers for apple card?

almost like a prequalify app?

It's more like an already approved app that just hits you with the HP after you accept it.

Re: What did I just do?!

donkort — Mon, 24 Feb 2020 16:54:23 GMT

If there wasn't a concrete offer----such as "$5,000 at 23.9% APR," then there was no hard pull. You didn't even get up to the "offer" part.

Re: What did I just do?!

Anonymous — Mon, 24 Feb 2020 17:01:20 GMT

Wow, didn't realize Apple would let you see your sl and apr before the hp. I just app-ed for two new cards this month so don't want to add another, but after seeing this thread, I was just too curious. Went on to my wallet and went through the steps. After entering my info, there it was. I did get frightened like the op when I saw the 'submitting your application to GS' message, but came out the other side with a clear approval and solid sl. I'll be declining for the moment, but very good to know for the future. Thanks for the info!

Re: What did I just do?!

SarahJo — Mon, 24 Feb 2020 17:38:14 GMT

@donkort wrote:
If there wasn't a concrete offer----such as "$5,000 at 23.9% APR," then there was no hard pull. You didn't even get up to the "offer" part.

To clarify, the SP pre-ap will in fact give you a solid limit and APR "$X,XXX at XX.XX%"...the HP occurs if that offer is accepted.

Re: What did I just do?!

Anonymous — Mon, 24 Feb 2020 18:58:41 GMT

Thank you everyone for your responses. The reason I exited out of the app is because I thought it went through the application process and didn't want to apply without seeing an offer. So in conclusion, after submitting my info and accepting the terms, wait until the page loads and I will see my offer? And, viewing the offer itself results in a SP unless I accept the offer?

Re: What did I just do?!

Anonymous — Mon, 24 Feb 2020 19:06:21 GMT

Oh ok, never mind my previous post. I see the offer now. Thanks everyone!

Re: What did I just do?!

donkort — Mon, 24 Feb 2020 19:36:48 GMT

If you don't want the terms, just "refuse."

Then, there won't be a hard pull.

Re: What did I just do?!

donkort — Mon, 24 Feb 2020 19:39:05 GMT

I'm jealous of Silly Goose!

Imagine if I got $30,000 at the lowest possible interest rate???

Re: What did I just do?!

newfossil — Mon, 24 Feb 2020 19:44:03 GMT

@Ficoproblems247 wrote:
Just to add to that, too, when it tells you your limit and APR, make sure you click on offer terms and conditions. It will give you your TU FICO 9 score on the last page. Another thing to note is that when you're done reviewing, just swipe out of (or click your home button depending on which device you have) of the wallet app. This way you can come back to it anytime you want during the next 30 days until the app expires. If you decline, you will simply not be able to go through the process again for 30 days. I've applied 4 times already, all with increasingly enticing offers.

So if you close it, without declining, later you can go back and see the same offer or they do another soft pull and maybe a different offer?

Re: What did I just do?!

Ficoproblems247 — Mon, 24 Feb 2020 20:06:56 GMT

@newfossil wrote:
@Ficoproblems247 wrote:
Just to add to that, too, when it tells you your limit and APR, make sure you click on offer terms and conditions. It will give you your TU FICO 9 score on the last page. Another thing to note is that when you're done reviewing, just swipe out of (or click your home button depending on which device you have) of the wallet app. This way you can come back to it anytime you want during the next 30 days until the app expires. If you decline, you will simply not be able to go through the process again for 30 days. I've applied 4 times already, all with increasingly enticing offers.
So if you close it, without declining, later you can go back and see the same offer or they do another soft pull and maybe a different offer?

It takes you back to your same offer. It remains for 30 days. Apple will even send you a friendly reminder when you're getting close to the expiration. If you decline, you will just simply not be able to apply again for 30 days, but not see the offer that you declined I believe, but someone correct me if this is incorrect.

Re: What did I just do?!

AverageJoesCredit — Mon, 24 Feb 2020 20:38:52 GMT

@donkort wrote:
I'm jealous of Silly Goose!

Imagine if I got $30,000 at the lowest possible interest rate???

Silly Rabbit , TRIX are for kidz

Re: What did I just do?!

Anonymous — Mon, 24 Feb 2020 21:01:17 GMT

@Ficoproblems247 wrote:
... I've applied 4 times already, all with increasingly enticing offers.

I'd like to learn more about this experience (I keep getting the same lousy offer) if you don't mind?

Re: What did I just do?!

Ficoproblems247 — Mon, 24 Feb 2020 21:34:05 GMT

@Anonymous wrote:
@Ficoproblems247 wrote:
... I've applied 4 times already, all with increasingly enticing offers.
I'd like to learn more about this experience (I keep getting the same lousy offer) if you don't mind?

The first one was in September and the last one was Feb 1st. I don't have the exact dates but they're spaced 30-60ish days apart.

Declined

Approved $1,500 @ 23.74%
Approved $4,500 @ 23.49%
Approved $6,500 @ 17.49%
My FICO 8s rose from 660s to 730s during that time so I assume similar increase for 9s as well.

Only remember my score from the most recent app which was 749 TU FICO 9.

The last one was intriguing because it means they were willing to go higher than my highest line that was reporting at the time of my app. I'll probably accept an offer if they have good financing when the next phone launches.

Re: What did I just do?!

Anonymous — Mon, 24 Feb 2020 23:17:54 GMT

@Anonymous wrote:
Oh ok, never mind my previous post. I see the offer now. Thanks everyone!

Only 181 more days of gardening! August 22nd will be around the corner.