topic Re: Should I Accept or Wait on Apple Card? in Credit Card Applications

Should I Accept or Wait on Apple Card?

Anonymous — Thu, 18 Feb 2021 14:40:55 GMT

Hey credit hereo's!!

Tona of people have given me very valuable and useful advice in the past and I ask for your advice and insight again.

I have been trying for the Apple Card for over a year!! Always would get denied due to them not being able to verify my identity. I woke up this morning and was like "What the heck let's try one more time." To my complete shock that image below instantly came up. No identification information needed this time.

My second shock came when I looked at the low SL of $1,500. The high APR doesn't matter because I always PIF.

The only thing that could be holding down my score at Transunion F09 might be a $10,000 loan @5.99% I took out 3 months ago. I have the cash to pay the loan but wanted to conserve my savings in these crazy new times. I have no derogatory marks at all and a 2% utilization rate across all lines of credit cards. I know my total aggregate is higher because of the loan. My DTI I believe is around maybe 19% this is with all outstanding debt and my apartment rent.

I have 3 questions for my awesome credit peeps!!

Is Goldman being cautious because of the recent loan?
Does the Apple Card grow over time with heavy use and how often am I able to request CLI's?

Should I wait to apply for a higher SL or take what I can now since I was never preapproved before because of the identity issues?

Data Points when I applied :

Transunion FICO 09 757 No Derogatory Marks 2% credit card overall utilization no auto loan or home loans and only a $10,000 loan that is outstanding.

Thanks doe the insight!!

Re: Should I Accept or Wait on Apple Card?

DoogieBall — Thu, 18 Feb 2021 14:34:30 GMT

I applied for the Apple Card in June 2020 and was denied with 745 TU and BK7. Tried again in October after TU removed BK7 and was approved same as you with $1500 SL and 21.99% APR. I declined offer.

Decided to apply again after seeing your post and was approved for $1500 SL and 15.99% APR. Declined offer again.

DPs compared to yours:

800+ on all CRs

No lates

Less than 1% util (AZEO)

$9500.00 left on car loan paid on time

BKs off all CRAs

Maybe it's Goldman Sachs? I'm not interested in getting the card, but more interested is seeing the soft pull approval amount. Maybe I'll apply again once the new 2021 M1 Mac Mini/Book Pro/iMac come out this year.

Re: Should I Accept or Wait on Apple Card?

Anonymous — Thu, 18 Feb 2021 14:41:20 GMT

@DoogieBall

WOW! You have better scores than me. I can not believe they are only offering you that amount. I mainly want it for the 2% cash back across the board and just the 3% for Apple Products I buy.

I wonder if the limit would grow with heavy use. I still can't believe with your profile that is all they are willing to extend. I would figure at least $5K with your profile. Weird but as many people say on here YMMV.

Re: Should I Accept or Wait on Apple Card?

DoogieBall — Thu, 18 Feb 2021 14:55:24 GMT

There must be something else we're both overlooking. I check my reports regularly and don't see anything. But as I've read in a few posts, Goldman Sachs might be cautious with the way things have been the past year with Covid.

The 3% on Apple stuff is appealing, though!

Re: Should I Accept or Wait on Apple Card?

CreditAggie — Thu, 18 Feb 2021 17:26:25 GMT

When I first applied for the Apple Card in August 2019, I was denied for not being able to verify identity. I tried again the following month and was instantly approved for $250 without needing to send a photograph of my ID. Through consistent use and SP CLIs, I now have a $6,000 limit. You can request a CLI with GS every three months. Of the three cards I have now, it has been my most consistent grower. The 2% Apple Pay is great for non-category spend, and the ability to both finance Apple products and get 3% back is a great benefit. Many other cards make you choose between 0% APR or cash back.

Re: Should I Accept or Wait on Apple Card?

Anonymous — Thu, 18 Feb 2021 17:42:52 GMT

@CreditAggie

Wow! That is awesome growth in less than two years. When did you get the first CLI ?

How much spend did you put thru the card every month?

I have read on the forms here to decline in the Wallet App then reapply using SCT trick on Apple's website for a much larger SL by loading up the shopping cart then selecting AppleCard at checkout. I am worried that if I decline I could be stuck in the "Identity Verification" loop for another year.

Re: Should I Accept or Wait on Apple Card?

CreditAggie — Thu, 18 Feb 2021 18:16:41 GMT

@Anonymous wrote:
@CreditAggie

Wow! That is awesome growth in less than two years. When did you get the first CLI ?

How much spend did you put thru the card every month?

I have read on the forms here to decline in the Wallet App then reapply using SCT trick on Apple's website for a much larger SL by loading up the shopping cart then selecting AppleCard at checkout. I am worried that if I decline I could be stuck in the "Identity Verification" loop for another year.

I got my first CLI on the card in April shortly after I got my first FICO Score. It went from $250 to $500. The Apple Card is my oldest (and first) CC.

My monthly spend on the card has ranged from $80 to $2500. The limit was sometimes cycled when it had a smaller limit.

Re: Should I Accept or Wait on Apple Card?

Anonymous — Thu, 18 Feb 2021 18:21:02 GMT

@CreditAggie

Thanks!

Re: Should I Accept or Wait on Apple Card?

NoMoreE46 — Thu, 18 Feb 2021 23:06:04 GMT

@Anonymous

If I were you, I would accept it unless you already have a 2% unlimited back card.

Likewise to what @CreditAggie said, increases are available and the process is slick. I was able to double my Applecard SL in twelve months.

Re: Should I Accept or Wait on Apple Card?

CountryLivin — Sat, 27 Feb 2021 17:38:51 GMT

If you want it, I would go ahead and accept it! I was approved for a SL of $1250, and now my card is at $8000

I have only had this card since November, so it will grow! Also my scores are low.....660 and 678

Re: Should I Accept or Wait on Apple Card?

Anonymous — Sat, 27 Feb 2021 17:41:59 GMT

@CountryLivin

I opted for the Amex Gold Card after comparing the benefits. It will better help me meet my points with Amex and free plane tickets lol. I might accept the Apple Card someday if they do a promo or something.

Re: Should I Accept or Wait on Apple Card?

Jordan23ww — Sun, 28 Feb 2021 04:05:59 GMT

Congratulations on your approval! If you feel like you got lucky with this approval I think you should just accept it. I have seen a lot of people get low starting limits but with using about 20 to 25% of their limit each month get a CLI after 4 to 6 months and then again every 90 days going forward.

If you feel confident they will approve you again you can always try applying on the Apple website using Apple Cart Trick (ACT). This is where you put items in your cart that are eligible for the Apple installment plan and at checkout choose to do an installment. Doing so has often allowed people who have had difficulty getting approved by applying through the iPhone wallet app to get approved and sometimes a higher starting limit.

I had applied through the iPhone Wallet 11 times and got denied each time. I decided to give the ACT method a try and finally got approved. I first did an iPad Air and was given a $950 limit. After reading posts on here I saw adding more expensive items could get me a higher limit. I tried again adding 4 of the 27 inch iMacs and an iPad Air to my cart and this time I got approved for $2100. Once you're approved you can go in the wallet app and hit the plus symbol and then accept the Apple Card offer and also order the titanium card. After that you can go back to your computer and cancel the entire order. Hopefully this helps you with your decision!

Re: Should I Accept or Wait on Apple Card?

Anonymous — Sun, 28 Feb 2021 07:49:32 GMT

Eh. I took their offer similar to yours with a 15.99% APR just this Wednesday. I see it for the long term of slowly getting CLIs and lower rates as they see my history with them. Also the titanium card; it just has me enchanted by a spell of aspiration to even hold such a magnificent card. 2% on basically everything I buy with Apple pay is just nice to have and that 3% on Apple products will definitely come in handy some day. (probably 3 year from now ).

I'd take it for the extra pocket jewlery.

Re: Should I Accept or Wait on Apple Card?

4sallypat — Sun, 28 Feb 2021 15:48:35 GMT

I am in a similar situation and thinking of getting the Amex Hilton Surpass card for the 150,000 hotel points to be applied to my long awaited post pandemic trips....

I already have the Plat card and it has enough MR points for 2 business class flghts internationally...

Apple may do a special like they have done in the past when a new product is showcased...

I'd hold of on Apple.

Re: Should I Accept or Wait on Apple Card?

Anonymous — Sun, 28 Feb 2021 15:52:24 GMT

@Jordan23ww

Thanks man!!

I did try the ACT and it did go higher to $3000 with same intrest. I might accept sometime but I wish there was a sing up offer or some other up front incentive. It's a decent overall card tho for the 2% across the board cash back when you use Apple Pay.

Re: Should I Accept or Wait on Apple Card?

Jordan23ww — Sun, 28 Feb 2021 16:08:05 GMT

@Anonymous wrote:
@Jordan23ww

Thanks man!!

I did try the ACT and it did go higher to $3000 with same intrest. I might accept sometime but I wish there was a sing up offer or some other up front incentive. It's a decent overall card tho for the 2% across the board cash back when you use Apple Pay.

You're welcome! That's an awesome jump! They doubled your possible starting limit! That will only help you have a leg up as you go ask for higher limits. If they double it again you'd already be at $6000. With a $1500 starting limit you probably would take a lot longer to get to $6000 and beyond. I have read on the Apple card website that limit increases are available as soon as 4 months. Others in the community have reported getting increases as soon as 90 days though.

You'll have 30 days to still accept the offer should you change your mind or want to wait a little to see if a sign up offer is added. I do understand wanting a sign up offer. Thankfully when I got the card they were running a promo, spend $75 at the Nike Store/website get a $75 credit. I'm not sure how often they actually do sign up offers. It could be worth it to go ahead and get it so it starts to age and you can start the countdown to increasing your starting limit. Definitely up to you!

Re: Should I Accept or Wait on Apple Card?

CreditAggie — Mon, 01 Mar 2021 02:24:25 GMT

@Anonymous wrote:
@Jordan23ww

Thanks man!!

I did try the ACT and it did go higher to $3000 with same intrest. I might accept sometime but I wish there was a sing up offer or some other up front incentive. It's a decent overall card tho for the 2% across the board cash back when you use Apple Pay.

Congratulations on your Apple Card offer! $3K is a great SL!

Re: Should I Accept or Wait on Apple Card?

dthaha — Mon, 01 Mar 2021 16:26:46 GMT

I would've taken it. Those are literally the same exact terms I have on my Apple Card. I plan on requesting CLI as soon as the 3rd statement closes.

Re: Should I Accept or Wait on Apple Card?

Jordan23ww — Tue, 02 Mar 2021 02:35:50 GMT

@Anonymous wrote:
@Jordan23ww

Thanks man!!

I did try the ACT and it did go higher to $3000 with same intrest. I might accept sometime but I wish there was a sing up offer or some other up front incentive. It's a decent overall card tho for the 2% across the board cash back when you use Apple Pay.

Not your traditional sign up offer but it's something! https://9to5mac.com/2021/03/01/apple-card-6-percent-daily-cash-reward/amp/?fbclid=IwAR26d3WSbXfeou0Gf7_bGdKk8uM14vE0HNjd1h4O2z4YPh_JpLD5u-CkrR4

Re: Should I Accept or Wait on Apple Card?

Anonymous — Tue, 02 Mar 2021 14:16:04 GMT

@Jordan23ww

That's actually a really good deal. My AirPods are going out and I wanna trade up my iPad Pro to the bigger 12.9. I might take it. Might lol