topic Re: Apple Financing? in Credit Cards

Apple Financing?

Anonymous — Sun, 11 Jan 2015 01:38:43 GMT

My husband is thinking abput tryong tp get Apple Financing for a Macbook ProRetina. We are not sure if he would get approved. Lack of credot history. He has inquiries for a Capitol One, Kohls Charge, Verizon Wireless, Directv, Progressive Finance, Springleaf Financial. Capitol One secured card on its way in the mail as I speak, Currently paying on Progressive Finance for a couch from biglots for about 6 weeks. We have stable income. I dont know if I couldmget a eecon. So I came here asking for advice

Re: Apple Financing?

chalupaman — Sun, 11 Jan 2015 01:39:51 GMT

How old are those inquiries? Barclays usually pulls TU but sometimes they can also pull EX too.

Re: Apple Financing?

Anonymous — Sun, 11 Jan 2015 01:46:42 GMT

If you applied for it it would be through barclay. They are the issuers of the apple card. When I applied with them for the first time it was about 3 years ago for a barclay rewards master card 3000 credit limit with a credit score of 690. Then 6 months later, I applied for the apple card and was approved instantly for 6000. Now I have 2 other cards with them. If you don't get approved you could call the back door number, they are pretty good at recons.

Re: Apple Financing?

Anonymous — Sun, 11 Jan 2015 02:17:43 GMT

the oldest is june from an income based aparrment tgat required torun his credit. This June 2014. It will fall off july of this year. Most of them are frpm the last few months. Kohls is from black friday shopping tp get the initial 15% off which is the only reaaon he applied. Tried to get a discover card for crexit building, they denied him so he applied to capitol one and is waiting for his secured card to arrive next week. Others were forfinancing for a ring, one is for a couch we own and make payments automatically on. Amd lastly is verizon amd directv. Directv is our satellite provider, and we applied for verizon but could afford the upfront deposit of $400 per line so that is in my mother in laws name.

Re: Apple Financing?

elim — Sun, 11 Jan 2015 03:15:30 GMT

barclays pulls TU usually...

fico scores?

inquiries?

Average Age of Accounts?

positive accounts reporting and when were they opened?

negative accounts reporting and how old?

if it isn't on your reports or it is in someone elses name then it wont matter to any lenders and is irrelevant.

welcome, you have come to the right place to learn the ropes to build a thick, positive credit file.

Re: Apple Financing?

Luscher — Sun, 11 Jan 2015 03:27:58 GMT

Honestly instead of going for the apple card for the 0% I would go towards a better card that you could really use long term that offers a 0% intro apr for 12-15 months like maybe the Chase Freedom card which normally offers 15 months 0% apr and has some great rotating categories. Just my opinion and another avenue to look into before going for a card that you may only use once

Re: Apple Financing?

Anonymous — Sun, 11 Jan 2015 03:40:17 GMT

Like I said above, all there is, is inquiries just a couple months old on average. Currently expecting first credit card in the mail. I am unable to get results on a credit score due lack of credit. Going to be using credit card as gas only card, to stablish credit.

Re: Apple Financing?

TRC_WA — Sun, 11 Jan 2015 03:47:04 GMT

@Anonymous wrote:
Like I said above, all there is, is inquiries just a couple months old on average. Currently expecting first credit card in the mail. I am unable to get results on a credit score due lack of credit. Going to be using credit card as gas only card, to stablish credit.

Based on that I would say your chances of approval are slim and none.

Re: Apple Financing?

Anonymous — Sun, 11 Jan 2015 03:56:14 GMT

@TRC_WA wrote:
@Anonymous wrote:
Like I said above, all there is, is inquiries just a couple months old on average. Currently expecting first credit card in the mail. I am unable to get results on a credit score due lack of credit. Going to be using credit card as gas only card, to stablish credit.
Based on that I would say your chances of approval are slim and none.

I agree. Wait until you build up some history. If you couldn't get approved for a Kohl's card you probably won't get approved for a Barclay. Don't waste the inquiries right now.

Re: Apple Financing?

Luscher — Sun, 11 Jan 2015 03:58:09 GMT

It takes about 6 months to even generate a FICO score, and much longer for a good one.

Re: Apple Financing?

BluePoodle — Sun, 11 Jan 2015 04:02:44 GMT

@Luscher wrote:
Honestly instead of going for the apple card for the 0% I would go towards a better card that you could really use long term that offers a 0% intro apr for 12-15 months like maybe the Chase Freedom card which normally offers 15 months 0% apr and has some great rotating categories. Just my opinion and another avenue to look into before going for a card that you may only use once

Chase wants to see minimum of 1 year good credit history first. If OP is only getting Cap1 secured card, then getting approved to barclay or chase card is more than likely not going to happen today. However after I would see from others when you can request a cap1 from secured to unsecured. You can get there, it will just take patience and time.

Re: Apple Financing?

Anonymous — Sun, 11 Jan 2015 05:56:47 GMT

@Anonymous wrote:
My husband is thinking abput tryong tp get Apple Financing for a Macbook ProRetina. We are not sure if he would get approved. Lack of credot history. He has inquiries for a Capitol One, Kohls Charge, Verizon Wireless, Directv, Progressive Finance, Springleaf Financial. Capitol One secured card on its way in the mail as I speak, Currently paying on Progressive Finance for a couch from biglots for about 6 weeks. We have stable income. I dont know if I couldmget a eecon. So I came here asking for advice

You will need about a 620 TU score to get Apple Financing (Barclay) and you might have to recon. You will also need about 6 months of credit card history, give or take a month or two during recon. I was denied with 2 months of credit card history and then again with 4 months of credit card history but successfully reconned the 4 month. They asked about the short credit card history and how I paid my credit card bills and told them I paid everything down to 10% utilization.

FYI - Progressive Finance does not report to Credit Bureaus and if Cap One secured is on the way it hasn't started reporting cause Cap One is super slow to start reporting.

Re: Apple Financing?

Anonymous — Sun, 11 Jan 2015 19:12:18 GMT

They did inquire about him. I am aware they don't report back on good payment history. They did inquire its on his transunion report.

Re: Apple Financing?

newhis — Sun, 11 Jan 2015 19:41:40 GMT

@Luscher wrote:
It takes about 6 months to even generate a FICO score, and much longer for a good one.

What is a good score?

My DW got 2 cards 02/14 (BoA secured/Discover IT Student), by 08/14 Discover reported a 720 FICO. I started in 03/14 with 2 cards (BoA Secured/Discover IT) and my TU for 09/14 was 731. Completly new credit reports, 5 INQ for DW by the time they generated the score, only 2 INQ for me.

Re: Apple Financing?

Luscher — Sun, 11 Jan 2015 20:25:22 GMT

731 is good!!!!^^^^^ Good score I guess changes from person to person and lender to lender. I think a solid score is 700. IMO

Re: Apple Financing?

Anonymous — Sun, 11 Jan 2015 21:10:06 GMT

@BluePoodle wrote:
@Luscher wrote:
Honestly instead of going for the apple card for the 0% I would go towards a better card that you could really use long term that offers a 0% intro apr for 12-15 months like maybe the Chase Freedom card which normally offers 15 months 0% apr and has some great rotating categories. Just my opinion and another avenue to look into before going for a card that you may only use once
Chase wants to see minimum of 1 year good credit history first. If OP is only getting Cap1 secured card, then getting approved to barclay or chase card is more than likely not going to happen today. However after I would see from others when you can request a cap1 from secured to unsecured. You can get there, it will just take patience and time.

It's not really worth the damage to your credit report for just a card that you'll only use once (or twice?)

Knew a couple of people that applied for Chase (mostly Amazon or Freedom) as their first credit card, most of them got denied .. however the one that was an AU on her parents' card got approved, for an Amazon.com card. Also, always heard of people saying discover would go easier on approving one's first credit card but just low limits (probably not enough to buy a MBPr)

If you have a bank account with say Institute A then I'll suggest try to apply for their credit card since you have a banking relationship established.