Apple Card soft app

[dsotm76]

Hey all,

I'm curious about something.  I recently joined the world of Apple with my newest cell phone.  I have to admit that I love it much more than I thought I would and that surprises me.  

So, I figured that I'd join the Apple card masses.  I did the soft app and they approved for a $1500 SL and a 15.99% APR.  I only carry one balance on my cards and that's the Best Buy one, which is around 33%.  (Darn holidays and deals!)  

I looked at the report they sent and they said my TU is 806.  So, I'm a bit baffled at the low SL, especially considering the other cards I have.  The only sub $5K is my Sony through Synchrony.  I did read where income plays a role.  I'm at $48K/year and that's on the conservative side.  

I'm curious as to if I were to accept the card if they are a card that will raise a starting limit after the accepting.  Has anyone had any luck with this?  What I'm looking at would all but max out the card and I don't want to do that.  And I'd really like to start earning some Apple cash back!

Thanks for any input, as always.  

[cashorcharge]

In the beginning, there was a lot of correlation to income and the CL you were given.  When I say beginning, I mean AUG 2019 when the card came out.  Lately, all the approvals I've seen haven't exceed $10K or $15K but that's just anecdotal.  Most are lower, despite your over 800 score.  That's to say, I feel it may be your reported income that played a part here but this is my opinion...

Future CLI's are SP and they like to see usage and payment history before granting them.  The request is just as easy...using iMessage to them directly to request one and IIRC, I am thinking it's 6 months that you can ask for your first.

[ntx]

As a data point, they started mine at $2K SL, 21.99%, income ~$60K, TU 8 656, TU 9 683. 

I made one purchase on it right away, just over $1K, and paid it in full as soon as it posted. 

Before my payment even cleared, they sent an email that my SL had been increased to $2.5K ( auto-CLI, I didn't ask ).  

NTX

[cashorcharge]

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@ntx wrote:

As a data point, they started mine at $2K SL, 21.99%, income ~$60K, TU 8 656, TU 9 683. 

I made one purchase on it right away, just over $1K, and paid it in full as soon as it posted. 

Before my payment even cleared, they sent an email that my SL had been increased to $2.5K ( auto-CLI, I didn't ask ).  

NTX

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Wow!  That was quick!  I hadn't heard that experience before. That's awesome

[ntx]

I haven't heard of it before either.   But I'm not complaining!

It will be interesting to see if they repeat it when I make another large purchase. 

[dsotm76]

Thanks to both of you for the comments and help.  The information, as usual, is invaluable!!  I was afraid of not being able to get a starting limit raised.

I think I did see another post that said that they made a purchase, paid it off, and then got an instant CLI.  I'm not sure what the basis is for that to happen.  

I think I'll probably end up just purchasing through Best Buy.  While I really wanted to earn the rewards, it's not worth taking a hit for a low limit that will get mostly taken up by one purchase.  I'll give it a try another time and see if they are a bit more favorable.  

I will say one thing, I really wish most banks would put all of this out there before comitting to applying.  It's nice to see the limite, rate, and what score they pulled.  I will give them credit for that. 

[4sallypat]

You could try the ACT (shopping cart trick) on the Apple site using your  iPHone - make sure you are logged into the iPhone with your Apple ID.

Try putting $3K or more into the cart (choose a i9 16" Macbook Pro) w/ Apple Care+, etc...

See if you get an offer to apply.  That may yield you a larger SL.

For mine, I originally apped with mid 600 scores $ 85K income 2 years ago and received a SL at $4K at 23.99%.

After 18 months, I messaged for a CLI to $5500 which they granted.

So if they are offereing a lower APR, which reflects your score, then it might be worth "asking" the SP TU app again.

They might quote a higher SL....

[dsotm76]

Thanks for that suggestion.  I may have to try that in the future.  I tried it now and couldn't get any information.  I'm guessing that it's because I just applied and I need to wait 30 days until doing it again.  But next time, I'll try it that way.  

(Oddly, the Mac 16" is the computer that I'm interested in...so that would have been a win!)

[dsotm76]

I did get an email from them too after trying the cart...

Thank you for your interest in Apple Card. Goldman Sachs Bank USA has reviewed your application, and it was not approved at this time because: You have applied a number of times and we cannot verify the information you have provided at this time

I love how they say that they cannot verify my information.  It took them four times sending my ID to finally get the initial offer and it took three days for that to be taken care of.  

I think it's just not in the cards for me.  Fortunately, there are others out there...hehehe