Apple Card Approval - Accept or decline?

[joltdude]

If it were me, id accept the offer.. Thats their best tier of card... and if you actually use the Apple card, there are likely to be CLI's in your future... And thats a pretty good starting limit with them.. and to your next question. No they will likely NOT raise your starting limit after a call...

You do not tend to see sky high starting limits with AC... If its a card youd use id take it and revisit the CL in months.. 

And comparing the AC limit to Macys is a false balance/false equivalency.. they tend to be much more conservative than Macys 

To me that card is worth it.. 

-J

[Berk]

If you will use it to buy Apple products I say go for it. I use mine for Apple Pay in stores and to finance new phones primarily. I got it when they first came out with a CL of $9,000. I have asked for two CLIs in that time. Last year I got a measily bump of $500. I just asked today and got this in response:

Goldman Sachs Bank USA could not approve your request for a credit limit increase because:

• You have not used and paid enough of your Apple Card credit limit since your last credit limit increase

Goldman Sachs Bank USA received your credit score from TransUnion Consumer Solutions.

Your credit score is a number that reflects the information in your consumer report. Your credit score can change, depending on how the information in your consumer report changes.

Your credit score (TransUnion FICO® Score 9) as of March 21, 2022: 803

So, at this point this card has the lowest tradeline of all my cards and it doesn't look like GS is interested in giving me more. Not sure if you will run into this or not. Just wanted to relay my experience with the card. I do love it for the convenience and use Apple Pay whenever I can. However, if you don't use the card to its full limit, GS might be reluctant to increase your CL.

Just an FYI, I make well into 6 figures and my biggest debt is 60K left on my mortgage and 12K left on a car loan. 5% total utilization across all cards.

[RSX]

@Berk  you will need to run 50% of your CL for 3 months through your Apple Card, before you have a better chance at a CLI

there are some threads around, and that seemed to be the best way to increase your CL

i have received 2 CLIs from them - but you do need to spend on the card to get them - mine were iMac 27" - Apple Watch - 2 iPhones and some misc spending

Oct 6 2020 15->17

Oct 19 2021 17->19

[Berk]

@RSX Thanks for that info. I doubt if I'll put anywhere near 4500 a month through it for any length of time just for a CLI. I just thought it odd that GS did not increase my CL and now I know why.

[RSX]

yes - i understand and i wouldnt want to run 4500 through most of my cards either - especially for 3 months

i do think buying Apple products with it are definitely a factor, and can make the 50% not be totally necessary

perhaps just putting all your normal CC spend on it for 3 months might work - regardless of the total amount - show them you are using the card and paying it off

worth a try, since you are still getting reward points of some sort - maybe just slightly lower than your other cards

i definitely didnt spend $7k per month on mine, to get the first $2k increase - but i am sure the iMac purchase helped

[Berk]

Now that is an idea - an iMac or Macbook would do the trick. 

I just don't feel like changing CCs for 3 months since so much of my spend is autopay of some sort or another. 

But buying new Apple products on the other hand...

[7774x]

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@FinStar wrote:

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@fittiger wrote:

Accept 👍

I have a question though, how do the soft pills work?  Does GS do a soft pull when the application is initiated or are they going off of one they randomly pull for people?

I ask because I'm in the market for this card, and recently paid down some debt, just waiting on my reports to update with statement closures. 

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They go by a real-time SP when you initially submit the data to determine whether you pre-qualify or not. If an offer is generated and accepted, then a HP will follow.

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Does Aapl use  just TU ..?

[FinStar]

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@7774x wrote:

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@FinStar wrote:

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@fittiger wrote:

Accept 👍

I have a question though, how do the soft pills work?  Does GS do a soft pull when the application is initiated or are they going off of one they randomly pull for people?

I ask because I'm in the market for this card, and recently paid down some debt, just waiting on my reports to update with statement closures. 

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They go by a real-time SP when you initially submit the data to determine whether you pre-qualify or not. If an offer is generated and accepted, then a HP will follow.

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Does Aapl use  just TU ..?

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@7774x They do. But they also have been known to access third part supplemental data from CoreLogic and ChexSystems in a variety of cases. So, if applying, make sure things are thawed out.