Apple Card credit limit increase DPs

[Aim_High]

Apple Card CLI Denial

Admittedly, I had a very high SL of $20K.

Admittedly, I have not had high spending on the card as a percentage of my limit.

Admittedly, I overestimated how much GS Bank would take relationship into account.  I have a six-figure balances in their "Marcus" online money market account and one reason I even applied in the first place was I thought my balances might help me get a larger SL from GS.  Reading the fine print, it mattered absolutely nothing, nor did my perfect 850 TU credit score, nor my very high six-figure income and low DTI ratio.   So if there is a data point to be learned here, this is absolutely NOT a "relationship" card with GS Bank, although it (MAY) be a "relationship card" as you relate to Apple.  If you are heavily into Apple products, it appears you may get preferrential treatment.

I used it often for many (35+) smaller transactions over three months for coffee, fast food etc, for a total of about $200 and PIF.  As a matter of fact, until my Apple Card in Aug 2019, I had never even used a mobile wallet payment system and have only had an iPhone versus Android since June 2019, so I'm not an intensely-immersed Apple customer.  If they had approved me based on increasing usage and good payment history, I would have tried to use it more and more, but instead they denied me.  So another data point:  It appears that swipe FREQUENCY has little to do with CLI if you aren't using a large portion of your CL regularly.  I noted that the larger increases so far have been for My Fico members who had fairly low SL's (under $6K) and who used the card heavily.  And, it's easier to run up 50% of a CL on a smaller limit card than one that already started relatively high at $20K.  I can't see using a large portion of my CL without sacrificing serious rewards elsewhere.  I would suggest that anyone with a limit over $10K who want a CLI needs to spend like mad for a few months before applying for more.

In all honesty, I've found many places that don't do Apple Pay and I'm not sure where they expect the average consumer to run up high balances unless you're spending a lot at Apple stores (3%) or using the physical card for a measly 1% cash back.  For groceries, for example, I read that those stores accept it but why would I use it there for 2% CB when I have a 3% CB physical card for groceries?  And I can get 2% minimum back on other things I buy with physical cards, not just mobile wallet.  And I don't shop at Apple Stores or even iTunes.

Ironically, I also see now that GS Bank took into account " ... the amount of credit you utilize on your existing credit lines." (See below.)  I had wondered why some of us with high scores, high income had been approved for $20K, some for $25K, some for $30K, some for $40K.  It appears to me that because I had been paying off my card balances early (before statement cut) and paying in full monthly, the apparent NON-USE of most of my credit lines hurt the appearance of my use of credit substantially since I didn't allow balances to post.  I do wonder now how much members who got much higher limits had higher balances posted on accounts and how much that influenced GS Bank to give more generous limits.  That irritates me a lot.  Maybe I need to rethink paying early.   

In hindsight, I see this probably was a wasted HP for me and I should have not even applied.  I can put thousands of dollars through per month and pay it off to try to raise my limit but why should I when I would have to compromise on rewards elsewhere to run up the Apple Card balance?  At least for now, this is probably a sock drawer card at best.  It's a chicken or egg dilemma, as they want spend to raise my CL and I want CL to give them spend.  Lol.  Maybe one day after it ages, I'll put some intense spend on it briefly like I did to my Capital One card before asking for a CLI.  I had the same issue with them.  So GS Bank is basically similar to Capital One when it comes to credit.  Stingy SL and they want heavy spend percentages to give substantial increases.

I identify with @CreditCuriosity so it appears that GS Bank is not willing to go out on a limb to be taken seriously by higher income, higher score, higher spend profiles.  And since relationship doesn't matter, I'll be moving most of that huge money market.  Perhaps I should just leave .... say ... $20K deposited?  LMAO ...  

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@CreditCuriosity wrote:

...initially approved for 7.5k with a 800 TU score and a fairly high income, not sure why they really kinda low balled me when my average limit is 20-25k and high limit is 61k with BofA and many other 25-35k and one 50k limit.  I basically said if you want me to take you seriously and use you for normal spend and apple spend please take my other accounts into consideration along with income and my scores as believe you all were way to conservative on initial credit limits and based off other DP people with lower scores/income were approved for higher limit.

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[CreditCuriosity]

@Aim_High sorry to hear about that.. I am 99% certain my CLI will be declined..  If you got in early you were more likely to get one as well apparently as they have been less generous lately.  I messaged them to day to inquire about it and said still in process which after your post means denial most likely.. I do have decent 6 figure income, but decent dti around 32-33 atm soon to be 29-30ish.. Although i still think 7500 was kinda low ball for income and 800ish score. Also based off other peoples profiles, but as always we never can compare two profiles as all are different regardless and they didnt favor anyone, but we wont go there.  How they did give some people 15-20k cl's with lower incomes etc still has me scratching my head, but good for them.  I honestly have only used it for a few hundred as well and told them I won't use it for apple purchases as why would i when i have higher cl's in the 50-60k range at way lower aprs lol.  Anyways i appreciate the DP.. Mind sharing when you put in for your CLI as i put mine in on the 24th and some people have heard back from that batch..  As said I took the card knowing the terms and that is cool and all, but i guarantee you I will get the same reason as you did as I have over 1/2 million in personal credit alone and have 2500 balance reporting atm..  So we all know how this will turn out lol.  Thanks for being honest and forthcoming!  20k isnt bad though at all esp if they offer more 3 cats in the future!  I just think they are tightening up now that the bad press is starting to go away from them after initial barrage.

[Aim_High]

Consolidation of Apple Card Data Points so far ...

Approvals, Denials, and Pending.

How long it took GS Bank to respond.

CLI's approved and SLs.

All of those tagged who are pending, please be

sure to update when you are notified!  Thanks!

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(8) Approvals

@DrewfromTexas

$3K SL to $6.5K

CLI: 11/14/19 Approved 12/10/19 (26 days)

@CreditJourney007

$1K SL to $1.5K

CLI: 11/14/19 Approved 12/02/19 (18 days)

@woodyman100

$2.5K SL to $15K

CLI: 11/08/19 Approved 11/22/19 (14 days)

*"approval was based on history with Apple and their product

All Apple Pay, few hundred a month."

@addicted_to_credit

$5K SL to $7.5K

CLI: 11/15/19 Approved 12/02/19 (17 days)

@cinnamongirl

$5.5K SL to $20K (14 days?)

*Used for 50% to 75% of daily transactions

Frequent smallish purchases, Walgreens, groceries, Also bought iPad at Apple Store

@kidtrio

$250 SL to $2K

CLI: 11/15/19 Approved 12/05/19 (20 days)

@macedwar

$3K SL to $3.5K SL

CLI: 11/24/19 Approved 12/11/19 (17 days)

@Grind2Greater

$2.5K SL to $4K

CLI: 11/21/19 Approved 12/07/19 (16 days)

 (3) Denials:

@Saeren

$2.5K SL

CLI: 11/16/19 (Denied) 12/11/19 (25 days)

@Aim_High

$20K SL

11/20/19 (Denied) 12/12/19 (22 days)

*$200 charged in 35 smaller transactions

@bfef

12/11/19

Reported denied, no DPs

(15)  Pending:

@maflores3

$2.5K SL

CLI: 11/14/19

@MrCreditInternational

$2.5K SL

CLI: 11/15/19

@busted2

CLI: 11/22/19

@CreditCuriosity

$7.5K SL

CLI: 11/24/19

@Creditmatt

CLI: 11/05/19

@jaytatis

$15K SL

CLI: 12/04/19

@radicaL

CLI:  +/- 11/19/19

@Birdman7

CLI: 12/05/19

@Clockworkz

CLI: 12/05/19

@Jjcredit22

CLI: 11/24/19

@B1G

$2.5K SL

CLI: 12/06/19

@Gunnerboy

$6.5K SL

CLI: 12/06/19

@Financella

CLI: 11/30/19

@joltdude

$6.5K SL

CLI: 12/10/19

@SFLSpotter9210

$4.5K SL

CLI: 12/10/19

[Aim_High]

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@CreditCuriosity wrote:

@Aim_High sorry to hear about that.. Mind sharing when you put in for your CLI as i put mine in on the 24th and some people have heard back from that batch.. 

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Thanks, @CreditCuriosity  I have a feeling you are right about a forthcoming decline as your profile and Apple card spending resembles mine, but I wish you good luck.

I posted consolidated DPs from everyone including myself that I gleaned from the postings in this thread above. 

I applied 11/20/19; declined 12/12/19, so I count that as 22 days if my abacus is correctly calibrated.

[DrewfromTexas]

My use is very minimal maybe $500 -600 since issued in August. Largest purchase was maybe $250 on a Apple Watch. Always pay in full the same day the statement hits.

[Aim_High]

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@DrewfromTexas wrote:
My use is very minimal maybe $500 -600 since issued in August. Largest purchase was maybe $250 on a Apple Watch. Always pay in full the same day the statement hits.

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Thanks! 

As a percentage of CL, it sounds like you spent about 20% over three months ($600/$3000).

You also bought a larger purchase from Apple, which seems to help also from DPs.

I used only about 1% of my CL over three months ($200/$20K) ... declined.

So it sounds like you need to be using double-digit percentages of CL to get an increase.

[Anonymous]

If you want to update some of my stuff for DP’s

SL:1500
Usage: 1300-1800 a month. Few large purchases, paid in full, statement cut showing $200 balance though, guess I charged before statement cut not sure. No interest paid on account as of yet and don’t plan on it. 23.49 interest rate

[Aim_High]

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@Anonymous wrote:
If you want to update some of my stuff for DP’s

SL:1500
Usage: 1300-1800 a month. Few large purchases, paid in full, statement cut showing $200 balance though, guess I charged before statement cut not sure. No interest paid on account as of yet and don’t plan on it. 23.49 interest rate

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Thanks, any word on your CLI yet or are you still at $1500 SL?

[SFLSpotter9210]

I’ve been putting between 400-700 a month leaving a little meat on the bone for them each month. I did go through citizens bank for my iPhone 11 Pro that bills each month at 47.00. Had a small purchase at Apple store for screen protector and case that was like 80.00. I want a iPad but don’t think I’m going to pull the trigger unless they give me a CLI. Not that I’m going to carry a balance and pay the loan shark $$$. I’ll let ya know my progress. Good luck everyone who is still waiting on the results. My DTI is 8% with 6 figure income. Think my Fico 9 score was 720ish.

[Anonymous]

No word on my increase yet, I called Wednesday and she said give it a few more days, it was still under review. Will update as soon as I find out though