topic Re: Questions about Path to Apple Card in Credit Cards

Path to Apple Card program for declined applicants

Anonymous — Mon, 29 Jun 2020 19:55:00 GMT

Sorry if this belongs in the news section. Apple launched a program to help declined applicants get approved.

https://www.macrumors.com/2020/06/29/apple-launches-path-to-card-program/

Re: Path to Apple Card program for declined applicants

K-in-Boston — Mon, 29 Jun 2020 20:02:33 GMT

This is interesting but it doesn't appear that opting in in itself will actually help an applicant's chances of approval, anymore than a myFICO subscription or even Credit Karma (provided they ignore the "boost your score by opening these 16 cards and getting a Prosper loan today") would if they follow the general advice given.

Re: Path to Apple Card program for declined applicants

Anonymous — Mon, 29 Jun 2020 20:13:22 GMT

It does like an awful lot of Apple marketing for their take on something that already exists. They do have some info about their CLI process (4 months minimum), the score they use (TU FICO 9), and a couple other things. They also mention using utility bills and similar. There's nothing revolutionary here though.

Re: Path to Apple Card program for declined applicants

JR_TX — Wed, 20 Jan 2021 22:28:11 GMT

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Path to Apple Card

Red1Blue — Mon, 29 Jun 2020 22:19:52 GMT

Here is to a link to article I read today. Looks like Apple and Goldman are preparing a plan to help consumers to improve their credit so hopefully they can qualify for their card in 4 months. I wonder if they should offer a secured card like other banks and let them graduate after 12-18 months.

Here is the link https://appleinsider.com/articles/20/06/29/apple-launches-four-month-path-to-apple-card-credit-coaching-program

Here is the link on Apple Website: https://www.apple.com/apple-card/financial-health/

Re: Path to Apple Card program for declined applicants

blazerein — Tue, 30 Jun 2020 01:08:55 GMT

Everytime I get declined by Apple the reason is "Recent Past Due" from TU which is not true. I don't have recent past due as I just pull up my Annual Credit Report and it's clean. They just don't like me PERIOD. My TU Fico9 score is 691 with 16% util and 2 new account in 12 months. I gave up on Apple but thanks for the SP.

Path to Apple card

NoMoreE46 — Tue, 30 Jun 2020 12:08:31 GMT

This is fairly innovative.

Re: Path to Apple card

Anonymous — Tue, 30 Jun 2020 12:27:14 GMT

@NoMoreE46 wrote:
This is fairly innovative.

See https://ficoforums.myfico.com/t5/Credit-Cards/Path-to-Apple-Card-program-for-declined-applicants/m-p/6067681#M1730378

Re: Path to Apple card

Red1Blue — Tue, 30 Jun 2020 12:27:59 GMT

@NoMoreE46 wrote:
This is fairly innovative.

I know it is good but considering the Apples stature in the industry this measure does no go far. What can some one do within 4 months to credit as their plan proposes. It is possible it can be done but, some people might need more time than 4 months to rebuild their credit. I think they should introduce some thing like Amex Optima or a secured card like Discover / Citi and let people start building the relationship with Apple / Goldman. This keeps Apple customers as loyal customer base happy. Customers can get discounts from Apple for using the secured card when they purchase their product like the regular apple card. Any way Apple does have the industry to standard to bring some of these changes to card industry.

Re: Path to Apple card

NRB525 — Tue, 30 Jun 2020 13:20:23 GMT

While MyFICO is a good source of information about scores, and rebuilding, it does require a lot of reading, to try to boil down what may apply to a member.

The Apple / Goldman method looks like it should respond more specifically to the applicant's situation. Getting regular monthly feedback on progress could be a good method.

Re: Path to Apple Card program for declined applicants

Matt9543 — Tue, 30 Jun 2020 14:50:17 GMT

@K-in-Boston wrote:
This is interesting but it doesn't appear that opting in in itself will actually help an applicant's chances of approval, anymore than a myFICO subscription or even Credit Karma (provided they ignore the "boost your score by opening these 16 cards and getting a Prosper loan today") would if they follow the general advice given.

To add in, I did take a look at the support page, and it does mention if you apply within 14 days of completing your path, they will evaluate the application based off of different criteria. So there is a chance it could help people get approved, but again not a guarantee.

Path to Apple Card - Apple wants to help if you're rejected.

vsChance — Tue, 30 Jun 2020 15:31:58 GMT

Thought this was intersting, Since im still not able to get accepted hopefully i get invited to this program.

https://9to5mac.com/2020/06/29/apple-card-how-to-get-approved/

Re: Path to Apple Card - Apple wants to help if you're rejected.

1GaDawg85 — Tue, 30 Jun 2020 18:19:54 GMT

I got accepted into the program. I will keep knocking on that door until it opens

Re: Path to Apple Card - Apple wants to help if you're rejected.

Matt9543 — Tue, 30 Jun 2020 22:13:57 GMT

@1GaDawg85 wrote:
I got accepted into the program. I will keep knocking on that door until it opens

How were you notified? Was it a device notification you received or an email?

Re: Path to Apple Card program for declined applicants

Anonymous — Wed, 01 Jul 2020 04:06:23 GMT

@K-in-Boston wrote:
This is interesting but it doesn't appear that opting in in itself will actually help an applicant's chances of approval, anymore than a myFICO subscription or even Credit Karma (provided they ignore the "boost your score by opening these 16 cards and getting a Prosper loan today") would if they follow the general advice given.

IMHO this is pretty big.

Yes, there are 'credit enthusiasts' forums like myfico that can provide more specific, relavent or useful info than the simplistic thing Apple/GS has.

But, Apple & GS's simple thing can effortlessly reach tens if not hundreds of millions and give them perhaps the very first 'credit lesson' in their life on what FICO score is and how it works. Remember that many of these people might not even had a credit card before ("becuase I heard from uncle Bob that I should never use a credit card", "D.R. says that cash is the king, credit cards destroy your credit scores", etc) let alone a proper understanding of how ultilizating ratio and timely payment affects the score or awareness of a small forum called 'myfico'.

Obviously they created this program for thier own interests. But I believe it in turn will also help many many people (way more than myfico could ever imagine) in terms of a better grasp on the topic and perhaps even better scrores.

Re: Path to Apple Card - Apple wants to help if you're rejected.

1GaDawg85 — Wed, 01 Jul 2020 12:59:54 GMT

@Matt9543 I was notified by email

Re: Path to Apple Card - Apple wants to help if you're rejected.

Jordan23ww — Mon, 06 Jul 2020 20:44:26 GMT

@1GaDawg85 wrote:
I got accepted into the program. I will keep knocking on that door until it opens

When did you last apply? I got denied 6/12/20 right before this program got launched. I'm trying to figure out do I need to apply again to trigger the path to Apple Card invite or not?

Re: Path to Apple Card - Apple wants to help if you're rejected.

1GaDawg85 — Mon, 06 Jul 2020 21:06:07 GMT

@Jordan23ww wrote:
@1GaDawg85 wrote:
I got accepted into the program. I will keep knocking on that door until it opens
When did you last apply? I got denied 6/12/20 right before this program got launched. I'm trying to figure out do I need to apply again to trigger the path to Apple Card invite or not?

I applied on the 30th and should be "done" in October according to them.

Re: Path to Apple Card - Apple wants to help if you're rejected.

1GaDawg85 — Mon, 06 Jul 2020 21:08:48 GMT

What I do find interesting in their debt calculation in the email is that they exclude student loan debt from this and also the figure they have is wrong for me anyways. I am skeptical that this is a truly accurate picture but it is something to go off of instead of shooting blindly in the dark

Re: Path to Apple Card - Apple wants to help if you're rejected.

Jordan23ww — Mon, 06 Jul 2020 22:55:28 GMT

@1GaDawg85 wrote:
@Jordan23ww wrote:
@1GaDawg85 wrote:
I got accepted into the program. I will keep knocking on that door until it opens
When did you last apply? I got denied 6/12/20 right before this program got launched. I'm trying to figure out do I need to apply again to trigger the path to Apple Card invite or not?
I applied on the 30th and should be "done" in October according to them.

Thank you so much for this info! I appreciate it!