Apple Card denied - DPs

[Gunnerboy]

I'm fairly sure its your DTI.  Optimal is 36%, or lower, but we don't know what Goldman Sachs expects for this card.

[Anonymous]

Applied for the Apple Card today and was declined. Wanted to share so that other folks can use this data to decide whether or not to apply. 

Score was Transunion 620 — not sure which score this even is because in my MyFICO account (that I pay and subscribe to) I have no scores that are 620.

Reason for decline: 

• You have recently been past due
• A bank has recently closed your account

It's been over a year since I have had any late marks and I do not have any bank closures on my account, unless they are referring to one from 2017. Obviously I am on the road to credit recovery (per my signature) so I wasn't sure what to expect but it seems like they prefer no-credit over repaired-credit from what I can tell.

[CreditInspired]

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@Anonymous wrote:

Applied for the Apple Card today and was declined. Wanted to share so that other folks can use this data to decide whether or not to apply. 

Score was Transunion 620 — not sure which score this even is because in my MyFICO account (that I pay and subscribe to) I have no scores that are 620.

Reason for decline: 

• You have recently been past due
• A bank has recently closed your account

It's been over a year since I have had any late marks and I do not have any bank closures on my account, unless they are referring to one from 2017. Obviously I am on the road to credit recovery (per my signature) so I wasn't sure what to expect but it seems like they prefer no-credit over repaired-credit from what I can tell.

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Sorry for the decline, but just so you know, anything less than 24 months is basically considered recent. 

[Anonymous]

Sorry about the denial, but thanks for the DPs!

[RotaryP7]

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@CreditInspired wrote:

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@Anonymous wrote:

Applied for the Apple Card today and was declined. Wanted to share so that other folks can use this data to decide whether or not to apply. 

Score was Transunion 620 — not sure which score this even is because in my MyFICO account (that I pay and subscribe to) I have no scores that are 620.

Reason for decline: 

• You have recently been past due
• A bank has recently closed your account

It's been over a year since I have had any late marks and I do not have any bank closures on my account, unless they are referring to one from 2017. Obviously I am on the road to credit recovery (per my signature) so I wasn't sure what to expect but it seems like they prefer no-credit over repaired-credit from what I can tell.

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Sorry for the decline, but just so you know, anything less than 24 months is basically considered recent. 

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Interesting. I was declined like I mentioned before because of "being recently past due" but the last time I had a late payment was 2 years, 3 months ago, according to my credit report. That's more than 24 months. 

[privacyadvocate69]

That seems pretty recent to me. People like to get paid on time, not whenever a debtor feels like it.

Give it five years.

[CreditInspired]

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@privacyadvocate69 wrote:
That seems pretty recent to me. People like to get paid on time, not whenever a debtor feels like it.

Give it five years.

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Hi and welcome to MyFICO

We don't know whether OP paid when he felt like it, so we don't like to make assumptions. It could have been a honest oversight or some other reason. So on MyFICO, we are always mindful to be FSR--friendly, supportive, respectful. Thank you.

[privacyadvocate69]

Talk about making assumptions...I made no comment about the OP’s motivations for paying late.

As far as a creditor is concerned, unless someone makes an effort to inform them of why a payment is late, all they know is that the payment is late. To a creditor, it may as well be because a debtor didn’t feel like paying on time as it is because they got a flat tire on the way to mail the check. The outcome is the same: late payment.

The POINT was that a creditor doesn’t care why a payment is made late and that a creditor likes to be paid on time. For this reason, recently paying late is a good reason why a prospective creditor might say “no thanks” in response to an application for credit. Doubly so when they are not charging late fees.

[Anonymous]

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@RotaryP7 wrote:

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@CreditInspired wrote:

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@Anonymous wrote:

Applied for the Apple Card today and was declined. Wanted to share so that other folks can use this data to decide whether or not to apply. 

Score was Transunion 620 — not sure which score this even is because in my MyFICO account (that I pay and subscribe to) I have no scores that are 620.

Reason for decline: 

• You have recently been past due
• A bank has recently closed your account

It's been over a year since I have had any late marks and I do not have any bank closures on my account, unless they are referring to one from 2017. Obviously I am on the road to credit recovery (per my signature) so I wasn't sure what to expect but it seems like they prefer no-credit over repaired-credit from what I can tell.

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Sorry for the decline, but just so you know, anything less than 24 months is basically considered recent. 

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Interesting. I was declined like I mentioned before because of "being recently past due" but the last time I had a late payment was 2 years, 3 months ago, according to my credit report. That's more than 24 months. 

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Not to speak for them but I do not think CreditInspired was trying to indicate that there is a hard cut off at 24 months. Rather the point is that what we consider recent is very different from recent in the credit world. That’s kind of the whole point of having negative information stay on your report for 7 years. Creditors like to look farther back than we would like. Generally speaking they like to see negatives age at least 2 years. But if the negative is severe enough or their underwriting standards are such, they might deem even 2 years as too risky. 

We we are all still gathering data points on GS so we don’t know yet.

[Anonymous]

According to Experian my last late payment was 6 years ago, and I was denied for the same reason (past due, not closing a bank account). And I’ll acknowledge I was late - very late. But it’s not “recent”. Confirmed with TU that all looks OK otherwise.

I wonder perhaps if “recently past due” is less about the recent-ness of the past due, and more of the severity of the past due. I’m hoping when some of this stuff drops off my credit report - next month or two - my score will bounce back, but it’s interesting because I’ve seen anecdotal evidence of users with past dues and bankruptcies < 2 years ago getting accepted.