Hi all,
I'm not sure I feel compelled to post successes or declines for any other reason that might be helpful for someone, but I wanted to update my CLI request cycle with the latest information.
While I love the ease of requesting a CLI with Apple, it was a little wonky this time. It initially told me that I had a prior CLI approved and that I had to wait 180 days. For some reason, I actually couldn't request a new CLI until day 183. It kept telling me the same wait 180 even though I was beyond that.
Current Apple Card details: $400-700 a month usage, PIF and usually early payments, current CL $3700.
Anyway, I finally got the request through and was told, "You have not used and paid enough of your Apple Card credit limit since your last credit limit increase." The request was to pad my CLs and drill down my small usage-to-CL ratio across my cards. I am also looking to upgrade to the iPhone 16 when it comes out this month and am considering using my Apple Card.
Does anyone have any thoughts or experiences of spending where this starts to give a little more or scores to get to before this spending piece isn't so much a big deal for CLI requests?
Better luck next time.
@cashorcharge wrote:Apple has tightened up the CLI reigns a bit and the message you received appears to be more prevelant then before.
While 20% usage of your CL would seem sufficient....it would appear that additional usage is necessary...though I haven't seen a new suggested usage number in my readings to be honest. I would suggest closer to 50% and likely a few months in a row
I helped track a lot of the Apple card data points beginning after its debut in 2019. Goldman has always required heavier spending to get a CLI, and getting a higher FICO has nothing to do with it. Back in the day, I was recommending no less than 25-30% of the current credit limit be spent in between CLI requests. (Not monthly but just the running total; ie, if you had a $5K limit, you'd want to spend and repay at least $1,500 between CLI requests. Heavier spend typically means more likely and higher increases.) So if recent data points indicate growing sensitivity to spend, that 50% may be a good target.
I've barely used my apple card at all over the past couple of years (few hundred here and there when Nike is getting 5% CB) and they still give me CLI's when I ask every few months, but it's always only $1k at a time. Same with Discover, it's just $1k every few months. Kind of annoying but better than nothing.
Again, while heavy spending month-over-month would certainly make Apple (or Capital One) or similar spend-conscious lenders happy, what seems to matter more is the overall usage of the credit limit between CLI requests, not on a monthly basis. Using 50% month-over-month is normally a far greater spend level than is really necessary to get an increase from my experience. It's more about the percentage of the limit that was used over several months prior to the request. So if my limit was $10K and if I wanted to target 50% (or $5K spending), I could do that in three months at about $1,667 per month or six months at $834 per month. The problem with setting the bar so high in our advice to other members is that they may think they won't be able to spend that high and not even try, when in reality they would have been able to get the increase with focused spending. Spending $5K a month or $3K a month on that card might not be feasible, but $1,667 or $834 could be feasible.