apple is my secondary phone for work, my daily phone is android. With that said i did get the apple card and I love it for various reasons. I keep getitng hit with the "not enough spend" as well. I have no iea when they calculate new spend for the purposes of a cli, but they have certainly slowed down on CLI as they prep to sell it off.
With that said, If i got the phone with me it is an easy 2%. I often just autopay medical bills with it, and a few other odds and ends to get spend on it. I am not one that maxes rewards across my cards by any means. Now i do like i get the rewards points in form of apple cash the next day and i can eaisly wirhdrawl those to my bank. You do not wait a statement cycle or two to be awarded your cashback with this card.
In terms of like Bofa, and i think Citi which has a preferred rewards program. Honestly i could qualify for it if i moved my IRA accounts over., but I am old school. I have them at Charles Schwab, and I been with CS since 2008. Frankly for the IRA i keep it in the robo platform, and if i brought them over to say BOFA I would have to be more involved then i want to be. not worth it for a slight bump in rewards.
@Seatac wrote:
Hi, curious if you know of a thread collecting the data points of Percentage of Credit Limit as they apply to credit usage vs. Credit limit for all cards?
This would be interesting and helpful for ppl seeking cli and to see how bucketed cards react compared to nom-bucketef card
Gonna hunt around but pls if you know one can you link it here?
😊
Good question @Seatac. Unfortunately, the answer is no. I helped collect data points on the Apple Card a few years ago when it was new. At that time, there was a lot of curiosity and enthusiasm about it, and having many data points on that card helped validate rough expectations. Accomplishing your goal would be complicated because:
- there are hundreds of cards on the market, even if the sample was limited to only the most main stream cards.
- collecting enough data points for a valid conclusion is daunting, especially with the limited participation we have on the forums today. And members would have to be motivated to contribute.
- lenders have different methodology. Goldman Sachs has been fairly predictable in linking the CLI to spending. There have been similar studies on My FICO about Capital One, but that is the only other one of which I'm aware. I can also tell you that Navy Federal CU apparently requires essentially no usage in most cases for CLI. CITI likes to see some usage but even very low usage has granted me small soft pull CLIs with them. Other lenders may be more concerned about other variables such as changes in FICO, utilization, income, DTI, derogatories, new accounts, length of time as a cardholder, or inquiries for a few examples. So the "soup recipe" for any single lender may have more to do with those other factors than spending. Also, our members would be unlikely to include every variable, which could cause inaccurate conclusions.
Most lenders who require some minimum utilization respond to moderate-to-heavy spending from my experience. I would generally recommend spend and repaying at least 25% to 50% of the total credit line spread over one or more months prior to seeking an increase; 50% to 100%, if feasible, is even better. But that 25% to 50% is often is enough to get an increase with many lenders if all other factors are in order.
