Apple Card denied - DPs

[Anonymous]

I was denied an Apple Card for two reasons:
- Your monthly debt obligations are too high given your income - examples may include credit card, loan, or housing payments
- Your monthly debt obligations are too high given your income - examples may include loan or monthly housing payments

Score: 698
Annual Income: 24000

I have no debt of any kind and I only have one AMEX card that I am an authorized user on which is paid in full each month. This would be my first personal credit card. My parents spend far more on their AMEX each month than my monthly income (also paid off in full each month). I’m assuming that could be the issue? My monthly spending on my card has been high lately but still paid in full each month with no balance on my cards or my parents.

Should I have myself removed as an authorized user and try again?

[JourneyStartsNow]

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@Anonymous wrote:

If you look at social media which is where the masses are congregating about this card, there are so many approvals that Wall Street is questioning whether GS is approving too many even in this limited rollout. And that the thing it’s not even in gen pop yet so any conclusions are premature at best.

*Edit. even here the approvals sections is flooded with threads. Unless someone was expecting 100% approvals I’m not sure what the complaint is other then it’s Apple so people feel the need to.

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Well of course social media and this board is talking about this card a ton. When was the last time a credit card like this was so easy to apply for? You don't get a HP unless you accept their offer. Look at how fast you can apply for the credit card on your phone. And if you're lucky you'll even get a low APR.

[Anonymous]

I’m not sure this exactly answers my question. I assume I was denied because the spending on the card I’m authorized on is equal to or higher than my monthly income. Should I have myself removed as an authorized user?

[Anonymous]

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@Anonymous wrote:
I’m not sure this exactly answers my question. I assume I was denied because the spending on the card I’m authorized on is equal to or higher than my monthly income. Should I have myself removed as an authorized user?

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Yes, most likely that is what is triggering the denial. The algorithm sees the spending and it does not match up with your income.

But take a step back. I realize this is the hot new thing and maybe all of your friends are getting it but it’s not worth altering your credit profile for. The AU account will help you get other accounts. Clearly not this one, but you need to think long term. This card is not going anywhere. It will still be there and you can retry down the road. 

[Anonymous]

 wrote:


 wrote:
If you look at social media which is where the masses are congregating about this card, there are so many approvals that Wall Street is questioning whether GS is approving too many even in this limited rollout. And that the thing it’s not even in gen pop yet so any conclusions are premature at best.
 
*Edit. even here the approvals sections is flooded with threads. Unless someone was expecting 100% approvals I’m not sure what the complaint is other then it’s Apple so people feel the need to.

Well of course social media and this board is talking about this card a ton. When was the last time a credit card like this was so easy to apply for? You don't get a HP unless you accept their offer. Look at how fast you can apply for the credit card on your phone. And if you're lucky you'll even get a low APR.

I’m not sure what your point is. You took my comment out of context. The only reason I mentioned social media was to point out that the original commenter is not getting the whole picture if they are only looking here on my FICo and specifically only looking at threads of people who were denied. It was not meant as a “oh wow people are talking about a card on social media”. Which it seems is what you got from my comment,

[CreditInspired]

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@Anonymous wrote:

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@Anonymous wrote:
I’m not sure this exactly answers my question. I assume I was denied because the spending on the card I’m authorized on is equal to or higher than my monthly income. Should I have myself removed as an authorized user?

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Yes, most likely that is what is triggering the denial. The algorithm sees the spending and it does not match up with your income.

But take a step back. I realize this is the hot new thing and maybe all of your friends are getting it but it’s not worth altering your credit profile for. The AU account will help you get other accounts. Clearly not this one, but you need to think long term. This card is not going anywhere. It will still be there and you can retry down the road. 

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As stated upthread, it depends on how badly you want the Apple card. But, I definitely agree with Morpho--is it worth altering your credit profile since being an AU will help you get other CCs in the future. 

[Anonymous]

Hello all! 

Decided to make my first post here over some frustration regarding the Apple CC. 

I received the early invitation about two days ago and I was excited to see how the application process worked. I ended up being denied for the card due to "monthly debt obligations are too high given your income - examples may include loan or monthly housing payments." I have never gotten this as a reason for denial before. My TU score that they did the soft pull for was 767 and my current CC usage on TU is only 3% of my total credit available. I do not have any loans or housing payments to make so my only debt is my credit cards which are paid in full monthly. Any ideas what this might mean?

[Gunnerboy]

Welcome!

What was the income you stated in the application?  More accurately, what is your debt-to-income ratio?

[Anonymous]

I only plan on having one credit card with a balance I’ll pay off monthly. I wanted the Apple Card because it seemed to fill that role by tying into my iPhone so well and having no fees. I guess my question then is what CC will I be able to qualify for if the spending on the AU card is too high for my income? What are my options if not to have myself removed as an AU?

[Anonymous]

I am a student so my income is quite low at around $18k. I'm going to say my debt-to-income ratio is about 56%. Which I understand is quite high, but I've never had issues with other lenders not giving me credit (Barclays Bank, BOA).