@RealityDesigner wrote:Thanks, any clue on how large a spend? Also the question remains then after using it for a large purchase if there is any data on whether there is a need to wait, perhaps after next statement date? Also any clues whether Apple is sensitive now to new inquiries or cards? (none yet, but debating about getting rather than waiting for Apple CLI first).
Prior to Goldman Sachs making plans to shed the Apple card, that 30% to 35% spending of the total credit limit was identified as the likely threshold for a CLI @RealityDesigner. Now, it seems Apple wants to see it higher. I just got one with over 40% spending but to get the larger increases probably requires somewhere around 50% to 100%. No, after you're turned down, there isn't an additional waiting period. You can ask anytime.
@dfwxjer wrote:Are y'all purchasing enough Apple product to make this card worthwhile?
I don't understand putting daily spend on this card since the reward structure isn't great for every day spending. It doesn't make sense to put a bunch of spend on this just to get a higher credit limit that won't be useful.
Just trying to understand the use case here because I'm probably missing something.
I see post like this regularly, @dfwxjer. I know what you're saying but it seems that people who do not have the Apple card may not understand what the appeal is all about. No, it's not the highest earning rewards card and if that is your focus, you'll probably by-pass the card. However, the rewards earnings are fairly mainstream, in all honesty. It earns 3%, not only at Apple but at other selected merchants like Panera Bread, Exxon, and Walgreen's for a few examples. And it earns 2% back when using Apple Pay, anytime and anywhere and uncapped rewards. True, the physical card only earns 1%, but I've found that Apple Pay is widely accepted for the 2% and there are many cards earning higher rewards that have a baseline of 1%.
Beyond the rewards, there are many good features of the card. See <THIS LINK> for one of my summaries of why it stands out.
Bummer. My most recent Apple CLI decline was for too many new accounts or inquiries. For new personal accounts I'm something like 4/6 so fair enough I suppose.
@dfwxjer wrote:I appreciate the thoughtful response and I'll check your link for the additional features I might be missing. My wife has the Apple Card and we just keep our monthly iCloud storage charge on it since it doesn't seem to make sense for us for anything else. She got the card years ago before we were married because she was rebuilding her credit due to a BK in 2016.
I'd be happy to leverage it further if it fits in our spending habits. I'd previously written it off since I plugged her in to my card portfolio/strategy.
**edit** after reading that post I can confirm her Apple Card will not be used beyond the monthly $10 icloud storage. I actually find the AppleCard interface to be way too dumbed down for my use, and we don't go to any of the retailers that have the elevated CB offers. Just for fun I requested a CLI and got the "You have not used and paid enough of your Apple Card credit limit since your last credit limit increase" message. So it'll sit at the $8500 limit until my wife decides to cancel it. I tossed the physical card in my office desk drawer years ago and can't even find it these days.
Thanks for taking a look at it and updating your post, @dfwxjer. It's all good, as no card is perfect or a good fit for everyone.
I'm curious after looking at your lineup about your credit card strategy. I'm assuming you have elevated elite status with Bank of America so you earn 2.625% uncapped and uncategorized on general spending with your Unlimited Cash Rewards Visa? (Otherwise, I don't see any other 2% or higher cards in your lineup.) I have Platinum Honors status with BofA as well, but just prefer to diversify with multiple lenders and 2% "fall-back" cards in the event BofA nerfs their program. I also just enjoy having the high TCL and comparing my experience with various cards. Same reason I keep the AOD FCU Visa at 3% even though it's now capped at $1500 per month. I'm also assuming you opt for more of a streamlined card lineup with more simplicity than some of us choose. I'm showing you report (7) active cards and most likely carry no more than six, maybe less.
Current active cards:
* Amex - Platinum, BCE
* BofA - Unlimited Cash Rewards Sig
* Chase - CSR, Amazon Prime
* Citi - Custom Cash, Costco Visa