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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.
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 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?
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:
@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?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.
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.
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?
Welcome!
What was the income you stated in the application? More accurately, what is your debt-to-income ratio?
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).