topic Re: Apple Card thoughts in Credit Cards

Apple Card thoughts

1GaDawg85 — Mon, 19 Oct 2020 18:50:11 GMT

Just applied and was approved for 3500 with 15.% APR....haven't accepted but thought about just holding off until more of the UTIL has been paid down. which will be tomorrow and re-applying after the score increases in a month or so. Not that I NEED this card but it would be padding and use for my Apple services (iCloud and subscriptions)

Re: Apple Card thoughts

Anonymous — Mon, 19 Oct 2020 18:56:10 GMT

SECU might give you more padding at a better rate : https://ficoforums.myfico.com/t5/Personal-Finance/SECU-PLOC-denied-Countered/td-p/6162068

The VS has 3% itunes/amazon/dining/travel, so pretty good + a $250 SUB

670+ EQ 5 is preferred/(necessary) for applying

Apple card is ok for subscriptions, but that much padding is kinda meh

Re: Apple Card thoughts

1GaDawg85 — Mon, 19 Oct 2020 18:56:27 GMT

@Anonymous wrote:
SECU might give you more padding at a better rate : https://ficoforums.myfico.com/t5/Personal-Finance/SECU-PLOC-denied-Countered/td-p/6162068

The VS has 3% itunes/amazon/dining/travel, so pretty good + a $250 SUB

670+ EQ 5 is preferred/(necessary) for applying

Hm that's not a bad option

Re: Apple Card thoughts

SecretAzure — Mon, 19 Oct 2020 18:56:38 GMT

That's a pretty low CL and not the best APR (based on your signature). And if your Util is high right now, I'd work on paying that down before accepting an offer with them. I would wait it out. I would be offended if they only approved me that much when I had cards over 15K lol. Your scores are sort of middling though. I would garden in your position...especially since you probably don't need it.

Re: Apple Card thoughts

blindambition — Mon, 19 Oct 2020 18:59:46 GMT

Apple has been more conservative with limits as of late. Unless paying down huge utilization and passing thresholds, might not affect limit given. Since it's really padding, doesn't hurt to wait though.

Re: Apple Card thoughts

1GaDawg85 — Mon, 19 Oct 2020 19:41:43 GMT

@blindambition wrote:
Apple has been more conservative with limits as of late. Unless paying down huge utilization and passing thresholds, might not affect limit given. Since it's really padding, doesn't hurt to wait though.

I am in no rush to get this card. I would absolutely use it to be a new iPhone 12, AirPod Pros, and iPad but those are all nice to have at this point and not necessary (and plus Christmas is coming so I may just ask for the APP instead of buying them)

Re: Apple Card thoughts

1GaDawg85 — Mon, 19 Oct 2020 21:24:44 GMT

@Anonymous wrote:
SECU might give you more padding at a better rate : https://ficoforums.myfico.com/t5/Personal-Finance/SECU-PLOC-denied-Countered/td-p/6162068

The VS has 3% itunes/amazon/dining/travel, so pretty good + a $250 SUB

670+ EQ 5 is preferred/(necessary) for applying
Apple card is ok for subscriptions, but that much padding is kinda meh

Yea, I wouldn't be using it for much and that is why it wouldn't be that much of a winner for me except that I could manage it 100% from my device and not having to log in to any website, etc.

Re: Apple Card thoughts

1GaDawg85 — Mon, 19 Oct 2020 21:31:52 GMT

@SecretAzure wrote:
That's a pretty low CL and not the best APR (based on your signature). And if your Util is high right now, I'd work on paying that down before accepting an offer with them. I would wait it out. I would be offended if they only approved me that much when I had cards over 15K lol. Your scores are sort of middling though. I would garden in your position...especially since you probably don't need it.

Yeah, I was not thrilled with 3500 but not completely terrible as a starting point, and 15.9 is pretty close to my other cards as far APR goes. My UTL is around 50% right now and going down slowly. I know if I pay down more UTIL and get DTI in check, it will get a better starting limit and may get some CLI from others. I know I am fortunate compared to many others in the current economy.

Re: Apple Card thoughts

blindambition — Mon, 19 Oct 2020 21:39:53 GMT

At 50% utilization most SL will be lower, a CU might be willing to extend more. I'd lower utilization to below 28.9% at minimum before applying. Better SL and APR possible.

Re: Apple Card thoughts

1GaDawg85 — Mon, 19 Oct 2020 21:54:09 GMT

@blindambition wrote:
At 50% utilization most SL will be lower, a CU might be willing to extend more. I'd lower utilization to below 28.9% at minimum before applying. Better SL and APR possible.

Yea, I have been focused on paying down the debt and then see where I stand with potential creditors. I don't wanna rack up a bunch of INQ for nothing.

Re: Apple Card thoughts

cashorcharge — Mon, 19 Oct 2020 22:28:49 GMT

The only thing I can add.....I have never seen GS give really low competetive APR's on the Apple Card. Admittedly, most of the approvals I've read about in past months have all been higher than yours and if I use myself as an example, my APR is 15.99...it started at 17.99% when I got the card AUG 2019 when it came out. I don't recall reading anyone getting 10.9% or anything closer in range to credit unions low APR's

Re: Apple Card thoughts

Anonymous — Mon, 19 Oct 2020 23:25:28 GMT

@cashorcharge wrote:
The only thing I can add.....I have never seen GS give really low competetive APR's on the Apple Card. Admittedly, most of the approvals I've read about in past months have all been higher than yours and if I use myself as an example, my APR is 15.99...it started at 17.99% when I got the card AUG 2019 when it came out. I don't recall reading anyone getting 10.9% or anything closer in range to credit unions low APR's

Lol my APR is 21.99% on the Apple Card, was 23.99% when I got it last August. It is one of my highest APRs outside of my Amazon Store Card. Definitely not a card I would carry a balance on.

Re: Apple Card thoughts

blindambition — Mon, 19 Oct 2020 23:54:01 GMT

@cashorcharge wrote:
The only thing I can add.....I have never seen GS give really low competetive APR's on the Apple Card. Admittedly, most of the approvals I've read about in past months have all been higher than yours and if I use myself as an example, my APR is 15.99...it started at 17.99% when I got the card AUG 2019 when it came out. I don't recall reading anyone getting 10.9% or anything closer in range to credit unions low APR's

Same. Mine was 17.99 and dropped to 15.99, and that was only because Federal Reserve lowered them. I think GS will follow Chase in not lowering APR.

Re: Apple Card thoughts

GrandBaker — Tue, 20 Oct 2020 03:02:46 GMT

It isn't a bad card but has quite a few limitations. Of course if you are in the Apple ecosystem (specifically Apps) then it may be worth it. I had one ($20K at 11%) on launch week but canceled it this week as I hadn't used it in months.

Re: Apple Card thoughts

NRB525 — Tue, 20 Oct 2020 19:31:38 GMT

The regular APR is typically high, but a main reason for having the card is the 0% Apple financing. Getting utilization down may help with the starting limit. It's nice to get that full reveal of terms prior to pulling the trigger.

The Apple Card management on the iPhone is a nice feature.

Re: Apple Card thoughts

1GaDawg85 — Tue, 20 Oct 2020 19:33:07 GMT

@NRB525 wrote:
The regular APR is typically high, but a main reason for having the card is the 0% Apple financing. Getting utilization down may help with the starting limit. It's nice to get that full reveal of terms prior to pulling the trigger.

The Apple Card management on the iPhone is a nice feature.

That is one benefit to me is being able to fully manage it on my device as I am an Apple user and would be putting all Apple spend through it

Re: Apple Card thoughts

1GaDawg85 — Tue, 20 Oct 2020 19:35:02 GMT

@cashorcharge wrote:
The only thing I can add.....I have never seen GS give really low competetive APR's on the Apple Card. Admittedly, most of the approvals I've read about in past months have all been higher than yours and if I use myself as an example, my APR is 15.99...it started at 17.99% when I got the card AUG 2019 when it came out. I don't recall reading anyone getting 10.9% or anything closer in range to credit unions low APR's

I am not concerned about the APR as much since I wouldn't carry a balance ever but looking at this for building a higher limit in the future but I can always re-apply after letting my UTIL/DTI go down and see what happens.

Re: Apple Card thoughts

Anonymous — Tue, 20 Oct 2020 19:49:34 GMT

It's pretty good for Apple products mainly due to the ability to finance pretty much most of them. In addition to financing, you also still get the 3% cashback up front (most cards make you forego cashback if you choose financing). Other than that, it's a pretty meh card.

I personally only have used mine for Apple purchases. I get 4.5% back with Apple Pay using my Altitude Reserve which makes the Apple Card redundant for me in that department.

Apple card story

1GaDawg85 — Mon, 26 Oct 2020 21:42:21 GMT

Previously did the app on my laptop and got approved for $3500 at 15.99% APR (which I would never carry a balance on anyways). I declined thinking maybe they would be more generous after paying down my utilization. Got the same offer of $3500 but with 21.99% APR. That is not only a no but a HELL to the NO. Didn't really NEED the card (just like the Verizon Visa) but would have been nice to have. Might need to wait on this one again.

Re: Apple card story

1GaDawg85 — Fri, 18 Dec 2020 19:00:51 GMT

so I tried it again and got offered 4,500 with 21.99% APR. But it is interesting that my PenFed and AMEX haven't appeared on my report with leaves my UTIL at a 40%+. If they report, my UTIL is around the 30% mark which may get more favorable terms. Looks like the wait may continue