topic Re: Apple Card Approval - Accept or decline? in Credit Card Applications

Apple Card Approval - Accept or decline?

Uncle_Money — Wed, 30 Mar 2022 01:00:58 GMT

Good evening all,

So I decided to just check my offer for the Apple Card from Goldman Sacs (since it's a soft pull) and here it is:

My TransUnion Fico is 807. Credit utilization is low. Nothing adverse. No recent apps for credit. Reports are meticulous. I know this is a DECENT offer with the lowest APR they offer but I was expecting a higher SL limit for someone with my established credit profile. If I accept this would be one of my lowest limits. My Macy's store card has a higher credit line currently @ $15,000! So I have some questions for all the Apple Card experts out there:

1. Although this is a soft pull on TU unless accepted, is it true Goldman also pulls "Sagestream" in order to qualify and if so, how does that effect anything, if at all? I'm hearing more about this Sagestream, which I never even knew existed.

2. Can the starting limit be raised upon accepting if I called GS? I'm wondering if the $12.5 SL is worth the hard pull and a new account, which might ding my score.

I'd like a forum vote!

Do we Accept or Decline this offer?!

Thanks!

Uncle Money

Re: Apple Card Approval - Accept or decline?

Duriel — Wed, 30 Mar 2022 00:06:18 GMT

Looking at your other cards, it's really a matter of do you want it. Do you spend a lot on Apple products and/or in app purchases? With your DPs, why not check out the AOD federal credit union unlimited 3% cashback card?

Re: Apple Card Approval - Accept or decline?

Spotsy — Wed, 30 Mar 2022 00:24:25 GMT

Accept....you got the best rate and the limit will easily grow. GS is being aggressive with this card on perks and cash back 'bumps' from time to time and with partners.

Re: Apple Card Approval - Accept or decline?

fittiger — Wed, 30 Mar 2022 01:49:03 GMT

Accept 👍

I have a question though, how do the soft pills work? Does GS do a soft pull when the application is initiated or are they going off of one they randomly pull for people?

I ask because I'm in the market for this card, and recently paid down some debt, just waiting on my reports to update with statement closures.

Re: Apple Card Approval - Accept or decline?

FinStar — Wed, 30 Mar 2022 01:52:48 GMT

@fittiger wrote:
Accept 👍

I have a question though, how do the soft pills work? Does GS do a soft pull when the application is initiated or are they going off of one they randomly pull for people?

I ask because I'm in the market for this card, and recently paid down some debt, just waiting on my reports to update with statement closures.

They go by a real-time SP when you initially submit the data to determine whether you pre-qualify or not. If an offer is generated and accepted, then a HP will follow.

Re: Apple Card Approval - Accept or decline?

flash3 — Wed, 30 Mar 2022 02:07:17 GMT

If you use Credit Karma, they have a link that gives you a free $75 bonus after getting approval for the Apple Card.

Not sure if you have to decline the first offer, and then re-apply using Credit Karma.

I just got approved for Apple Card, and went to Walgreens to spend $75 (then they give you the $75 back in bonus credit as Daily Cash).

Then Apple mailed me this thick-heavy titanium credit card that is really cool but useless since it gives back only 1% if you use the physical card (instead of the 2% using Apple Pay).

Re: Apple Card Approval - Accept or decline?

bigseegar — Wed, 30 Mar 2022 02:36:21 GMT

Yes, GS does pull Sagestream as well on their HP if you accept their SP offer and move forward. I saw it under my Apple card when I pulled my full blown reports directly from the CRA's. They also pulled it when they did CLI as well on mine.

Re: Apple Card Approval - Accept or decline?

RSX — Wed, 30 Mar 2022 03:40:25 GMT

I say accept it

Re: Apple Card Approval - Accept or decline?

HeavyResist — Wed, 30 Mar 2022 04:21:14 GMT

Take it while its hot.

Re: Apple Card Approval - Accept or decline?

donkort — Wed, 30 Mar 2022 04:26:11 GMT

I have a 824 TU score. They only offered $8,000 at 12.99%.

You got a much better deal than I did. I commend you.

Re: Apple Card Approval - Accept or decline?

joltdude — Wed, 30 Mar 2022 14:56:07 GMT

If it were me, id accept the offer.. Thats their best tier of card... and if you actually use the Apple card, there are likely to be CLI's in your future... And thats a pretty good starting limit with them.. and to your next question. No they will likely NOT raise your starting limit after a call...

You do not tend to see sky high starting limits with AC... If its a card youd use id take it and revisit the CL in months..

And comparing the AC limit to Macys is a false balance/false equivalency.. they tend to be much more conservative than Macys

To me that card is worth it..

-J

Re: Apple Card Approval - Accept or decline?

Berk — Wed, 30 Mar 2022 15:51:49 GMT

If you will use it to buy Apple products I say go for it. I use mine for Apple Pay in stores and to finance new phones primarily. I got it when they first came out with a CL of $9,000. I have asked for two CLIs in that time. Last year I got a measily bump of $500. I just asked today and got this in response:

Goldman Sachs Bank USA could not approve your request for a credit limit increase because:

You have not used and paid enough of your Apple Card credit limit since your last credit limit increase

Goldman Sachs Bank USA received your credit score from TransUnion Consumer Solutions.

Your credit score is a number that reflects the information in your consumer report. Your credit score can change, depending on how the information in your consumer report changes.

Your credit score (TransUnion FICO® Score 9) as of March 21, 2022: 803

So, at this point this card has the lowest tradeline of all my cards and it doesn't look like GS is interested in giving me more. Not sure if you will run into this or not. Just wanted to relay my experience with the card. I do love it for the convenience and use Apple Pay whenever I can. However, if you don't use the card to its full limit, GS might be reluctant to increase your CL.

Just an FYI, I make well into 6 figures and my biggest debt is 60K left on my mortgage and 12K left on a car loan. 5% total utilization across all cards.

Re: Apple Card Approval - Accept or decline?

RSX — Wed, 30 Mar 2022 15:58:02 GMT

@Berk you will need to run 50% of your CL for 3 months through your Apple Card, before you have a better chance at a CLI

there are some threads around, and that seemed to be the best way to increase your CL

i have received 2 CLIs from them - but you do need to spend on the card to get them - mine were iMac 27" - Apple Watch - 2 iPhones and some misc spending

Oct 6 2020 15->17

Oct 19 2021 17->19

Re: Apple Card Approval - Accept or decline?

Berk — Wed, 30 Mar 2022 16:47:10 GMT

@RSX Thanks for that info. I doubt if I'll put anywhere near 4500 a month through it for any length of time just for a CLI. I just thought it odd that GS did not increase my CL and now I know why.

Re: Apple Card Approval - Accept or decline?

RSX — Wed, 30 Mar 2022 16:54:24 GMT

yes - i understand and i wouldnt want to run 4500 through most of my cards either - especially for 3 months

i do think buying Apple products with it are definitely a factor, and can make the 50% not be totally necessary

perhaps just putting all your normal CC spend on it for 3 months might work - regardless of the total amount - show them you are using the card and paying it off

worth a try, since you are still getting reward points of some sort - maybe just slightly lower than your other cards

i definitely didnt spend $7k per month on mine, to get the first $2k increase - but i am sure the iMac purchase helped

Re: Apple Card Approval - Accept or decline?

Berk — Wed, 30 Mar 2022 20:46:07 GMT

Now that is an idea - an iMac or Macbook would do the trick.

I just don't feel like changing CCs for 3 months since so much of my spend is autopay of some sort or another.

But buying new Apple products on the other hand...

Re: Apple Card Approval - Accept or decline?

7774x — Sat, 09 Apr 2022 23:39:48 GMT

@FinStar wrote:
@fittiger wrote:
Accept 👍

I have a question though, how do the soft pills work? Does GS do a soft pull when the application is initiated or are they going off of one they randomly pull for people?

I ask because I'm in the market for this card, and recently paid down some debt, just waiting on my reports to update with statement closures.
They go by a real-time SP when you initially submit the data to determine whether you pre-qualify or not. If an offer is generated and accepted, then a HP will follow.

Does Aapl use just TU ..?

Re: Apple Card Approval - Accept or decline?

FinStar — Sun, 10 Apr 2022 07:04:39 GMT

@7774x wrote:
@FinStar wrote:
@fittiger wrote:
Accept 👍

I have a question though, how do the soft pills work? Does GS do a soft pull when the application is initiated or are they going off of one they randomly pull for people?

I ask because I'm in the market for this card, and recently paid down some debt, just waiting on my reports to update with statement closures.
They go by a real-time SP when you initially submit the data to determine whether you pre-qualify or not. If an offer is generated and accepted, then a HP will follow.
Does Aapl use just TU ..?

@7774x They do. But they also have been known to access third part supplemental data from CoreLogic and ChexSystems in a variety of cases. So, if applying, make sure things are thawed out.