Apple Credit Card - Goldman Sachs

[Anonymous]

I recently did the prequalification for the Apple Credit Card. I was denied bc a bank recently closed a credit card. Here's the problem. It was Wayfair, they were with Comenity Bank, they moved the Synchrony Bank; so Comenity closed my account and EVERYONE elses. It was closed in good standing. Never had any late payments, never maxed the card out... it was perfect. How can I get Goldman to accept this. I have the documents from Wayfair; but I'm not sure if it will help. What can be done?

[TGG_1976]

Are you sure this is the actual reason, or could there be any additiona contributing factors? I also was impacted by the Wayfair credit card closures and had no issue getting an offer for the Apple card afterwards (I did not accept the offer in the end.)

[Loquat]

Interesting for sure. If your account was closed by credit grantor and that is truly the reason for denial then that means that remarks on a credit report (at least for Goldman) does matter. Most of the time you don't have to worry about remarks unless its being viewed by a human.

OP, did they list any other factors or reasons for denial?

[risingup2day]

Hello,

Sorry for the denial. Not sure what you mean by "what can be done." Unfortunately, Goldman Sachs does not have a underwriting department that will speak to people regarding their decisions. 

When I applied for the Apple Card, I was denied several times over the course of a year... same denial, "Recently past due account." I have been completely derogatory free since 2014. I called spoke to Apple Reps, Goldman Sachs Reps, and even pulled report from sage stream and the other credit bureau the Goldman uses... plus I spoke to reps from both bureau's... sadly nothing could be done. 

In October of 2020, after being denied since the release of the Apple Card, finally got accepted. You will get it one day, promise! 

[Anonymous]

I'm seeing they have a fancy algorithm of  credit worthiness, factoring in credit balances/credit limits to income ratio, payment history, spending, credit score and credit agencies other than the main three. They usually give a lot of reasons but I feel those are just for justification. It seems the reasons they list can usually be overcome by other factors as was my case.

[Anonymous]

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@Anonymous wrote:

I recently did the prequalification for the Apple Credit Card. I was denied bc a bank recently closed a credit card. Here's the problem. It was Wayfair, they were with Comenity Bank, they moved the Synchrony Bank; so Comenity closed my account and EVERYONE elses. It was closed in good standing. Never had any late payments, never maxed the card out... it was perfect. How can I get Goldman to accept this. I have the documents from Wayfair; but I'm not sure if it will help. What can be done?

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have you done the shopping cart trick?

i had applied 2 times one in March 2021 and April 29th 2021 [got path to apple email] and was denied.

Did the trick  again on MAY 5th 2021 and was approved for $1800 crazy but it works!

Follow these steps:

1. go to apple store on your cell

2. add items in the cart for $1500 or more

3. go all the way like if you are about to make the purchase

4. take the option to apply for the apple card 0% interest

5. do credit app

6. It should give you a approval with  with APR and credit limit.

7. DO NOT SUBMIT YET - go back and delete items and get something small like charger [what i did] 

8. check out and put that on the card and it will show up on ur wallet and you can also order the physical metal card.

Hope it works for you! 

LET me know