Apple Card credit limit increase DPs

[Anonymous]

So how does the financing work? Does it report a balance each month or a separate TL? If you got a ifruit?

[Anonymous]

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@Anonymous wrote:
So how does the financing work? Does it report a balance each month or a separate TL? If you got a ifruit?

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I imagine it reports the full balance just like any other card but you just have to make installments towards it instead of PIF to avoid interest. It's definitely not a separate TL though. 

[Anonymous]

 Hi everyone,

I submitted a CLI request 2/12 on my Apple Card and they said they'd let me know in 5-7 days. Will they notify me via an email of outcome? I've seen in other threads that people will login and see a new available credit but didn't see anything regarding a notification from Goldman Sachs. Thank you.

[Gunnerboy]

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@Anonymous wrote:
So how does the financing work? Does it report a balance each month or a separate TL? If you got a ifruit?

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I financed my iPhone 11, and opted for AppleCare+.  GS reported the total purchase amount to TU.

[Anonymous]

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@Gunnerboy wrote:

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@Anonymous wrote:
So how does the financing work? Does it report a balance each month or a separate TL? If you got a ifruit?

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I financed my iPhone 11, and opted for AppleCare+.  GS reported the total purchase amount to TU.

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I figured that is how it worked just like any other card. That's really going to suck for me with a $2500 limit. 

I wonder how long you have to wait to get  Card again if you cancel it... My TU has improved to the point I would qualify for 12.49% instead of 23.49% and certainly should qualify for more than $2500. 

[Anonymous]

You don't pay interest on the iphone installement plan so your card interest rate does not matter. Also I saw a few people with high scores who got ~16% not the lowest rate.

[Gunnerboy]

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@Anonymous wrote:

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@Gunnerboy wrote:

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@Anonymous wrote:
So how does the financing work? Does it report a balance each month or a separate TL? If you got a ifruit?

---

I financed my iPhone 11, and opted for AppleCare+.  GS reported the total purchase amount to TU.

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I figured that is how it worked just like any other card. That's really going to suck for me with a $2500 limit. 

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@Saeren

What do you mean? You could easily buy an 11 Pro Max w/256GB with that limit.  Were you thinking about paying for other Apple products as well?

[Anonymous]

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@Anonymous wrote:

You don't pay interest on the iphone installement plan so your card interest rate does not matter. Also I saw a few people with high scores who got ~16% not the lowest rate.

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I know that you don't pay interest on it but I definitely wouldn't get slapped with the highest APR and probably get a higher starting limit. 

[Anonymous]

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@Gunnerboy wrote:

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@Anonymous wrote:

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@Gunnerboy wrote:

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@Anonymous wrote:
So how does the financing work? Does it report a balance each month or a separate TL? If you got a ifruit?

---

I financed my iPhone 11, and opted for AppleCare+.  GS reported the total purchase amount to TU.

---

I figured that is how it worked just like any other card. That's really going to suck for me with a $2500 limit. 

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@Saeren

What do you mean? You could easily buy an 11 Pro Max w/256GB with that limit.  Were you thinking about paying for other Apple products as well?

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I don't want a card pegged at 68% utilization (the top tier iPhone model this year will be about $1500 most likely thanks to 5G and I would pay for AppleCare up front too so $1700 assuming they don't increase the cost for AppleCare) and then going down by just $71 a month. Not really a good look to other lenders or FICO scores. 

I suppose I could just pay for the phone and collect my 3% then throw everything at it to get it paid off right away though. 

[Anonymous]

We are still one week from the Apple Card being 6 months old. Official release 8/20/19

I think people are jumping the gun on CLI request. I think CLI request will look very different by the time the next iPhone ships. 

Right now they have no reason other than heavy spend to increase anyone's limit. I am betting we will see auto CLI, and regular reporting by then.