Apple Shopping Cart Trick Worked (I think?) >> UPDATE: It Didn't Work

[debtphobe]

UPDATE: My 'Plan B' as detailed below failed. I got an email a few days after my $11,867.72 order saying that my credit card didn't have a sufficient enough limit to cover the purchase. The order was cancelled by Apple and my credit limit remains at $8k.

Two days ago I applied for an Apple Card CLI and got the message "We need some more time to review your request for a credit line increase. This may take up to three days." I received a message today saying that my request was declined. My current CL on the card is $8,000 and I was hoping to get it to $10-12k. I was disappointed.

Plan B: I went to the Apple website today and ordered 4 Macs totalling $11,867.72 (including tax), knowing my credit limit was only $8k. Within seconds, my order was approved and I received an email confirmation telling me when I can expect to receive my Macs. I have no intention of keeping the 4 Macs and will cancel my order -- I just wanted to see if it got approved. That said, nothing has changed in my Apple wallet -- it still says my credit limit is only $8k. And nothing has been charged to my card yet, but my understanding is that you get charged once the item(s) ships. For all I know, they'll keep my CL at $8k once I cancel, but I guess I'll find out.

As a point of reference, I got the Apple Card in August 2020 and received two CLI so far (not including today). One from $3k to $5k, and the other from $5k to $8k.

[FinStar]

Let us know if you see any changes in your CL within the next few days. 

[SoCalGardener]

FWIW, American Express approves purchases that put you over your credit limit, based on various factors: your creditworthiness, your usage and payment history with them, etc. So it's very possible Apple does it, too. With Amex, it does not permanently increase your CL.

[Red1Blue]

Hope you get it. Keep us updated.

[FalconSteve]

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@SoCalGardener wrote:

FWIW, American Express approves purchases that put you over your credit limit, based on various factors: your creditworthiness, your usage and payment history with them, etc. So it's very possible Apple does it, too. With Amex, it does not permanently increase your CL.

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Could you expand on this? Do they report that you went over your limit? Do they temporarily report your limit higher?

[FinStar]

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@FalconSteve wrote:

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@SoCalGardener wrote:

FWIW, American Express approves purchases that put you over your credit limit, based on various factors: your creditworthiness, your usage and payment history with them, etc. So it's very possible Apple does it, too. With Amex, it does not permanently increase your CL.

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Could you expand on this? Do they report that you went over your limit? Do they temporarily report your limit higher?

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The card is typically reported as over the limit *if* an individual hasn't brought down the balance prior to the tradeline being reported. If it were to report, any charges over the limit are due plus the minimum payment for the standard balance.  AmEx, like some other lenders, can allow certain transactions to be approved (depending on any conditions, internal profile, etc.) without raising the 'hard' credit limit. It's simply a temporary authorization that allows certain transactions to go over the hard limit.

[FalconSteve]

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@FinStar wrote:

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@FalconSteve wrote:

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@SoCalGardener wrote:

FWIW, American Express approves purchases that put you over your credit limit, based on various factors: your creditworthiness, your usage and payment history with them, etc. So it's very possible Apple does it, too. With Amex, it does not permanently increase your CL.

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Could you expand on this? Do they report that you went over your limit? Do they temporarily report your limit higher?

---

The card is typically reported as over the limit *if* an individual hasn't brought down the balance prior to the tradeline being reported. If it were to report, any charges over the limit are due plus the minimum payment for the standard balance.  AmEx, like some other lenders, can allow certain transactions to be approved (depending on any conditions, internal profile, etc.) without raising the 'hard' credit limit. It's simply a temporary authorization that allows certain transactions to go over the hard limit.

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Thanks for the clarification

[SoCalGardener]

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@FalconSteve wrote:

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@SoCalGardener wrote:

FWIW, American Express approves purchases that put you over your credit limit, based on various factors: your creditworthiness, your usage and payment history with them, etc. So it's very possible Apple does it, too. With Amex, it does not permanently increase your CL.

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Could you expand on this? Do they report that you went over your limit? Do they temporarily report your limit higher?

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Here it is, straight from the horse's mouth!

Can I spend over my Card's credit limit?

If you have a personal or small business (OPEN) Credit Card, we may approve you temporarily to spend more than your credit limit, based on your credit profile and spending habits. There is no fee for going over your credit limit. However, if you spend above your limit, the Minimum Payment Due on your Card will increase, per your Cardmember Agreement. If you have a Consumer or Business Green, Gold or Platinum Card, your Card does not have a credit limit. Instead, your Card has no preset spending limit unless you have been previously notified otherwise. No preset spending limit means the spending limit is flexible. In fact, unlike a traditional credit card with a set limit, the amount you can spend adapts based on factors such as your purchase, payment, and credit history. If you’re ever unsure if a large purchase will be approved, just use the Check Spending Power tool in your online account or mobile app. Learn more by visiting the No Preset Spending Limit page. If you have a Corporate Card, an over-limit approval depends upon your company's policy, as well as the current credit profile and historical spending habits associated with the account. For more information on your company's policy, please contact your company's Program Administrator.

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