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Approved for Apple Card and Turned It Down

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Regular Contributor

Re: Apple Card applying

I did take out a loan , so that might’ve been the issue !/:



Message 161 of 184
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Regular Contributor

Apple approval with great SL and awful APR

Thinking I'd get on the Apple Pay bandwagon I apped last night. Approved SL of $20k but an APR of 23.8%. That's the worst they offer. They pulled a TU 784, 1% utilization, $303k income. Perfectly clean report with AAofA 4 yrs. I think I'll pass but does anyone know if you let the offer expire if the terms will always be the same?

 

Message 162 of 184
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Frequent Contributor

Re: Apple approval with great SL and awful APR

Congrats on the approval, nice SL but that APR no bueno.

12/18/19






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Message 163 of 184
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Moderator

Re: Apple approval with great SL and awful APR

Wasn't an approval just a check on terms.. Appears OP didnt accept yet so moved thread to applications for the time being.

Message 164 of 184
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Valued Contributor

Re: Apple approval with great SL and awful APR


@Vortexeng wrote:

Thinking I'd get on the Apple Pay bandwagon I apped last night. Approved SL of $20k but an APR of 23.8%. That's the worst they offer. They pulled a TU 784, 1% utilization, $303k income. Perfectly clean report with AAofA 4 yrs. I think I'll pass but does anyone know if you let the offer expire if the terms will always be the same?

 


Obviously every profile is different but I have passed on the offers and tried again in the last couple of months. I have received a few different terms.

Message 165 of 184
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Valued Contributor

Re: Apple approval with great SL and awful APR

Congratulations on the offer. Sorry to hear about the apr. I’ve seen where people get different offers the second go around. I think the offer is good for 30 days?



Message 166 of 184
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Established Contributor

Re: Apple approval with great SL and awful APR

The only APR I care about is 0%. 

 

To me, the APR is like the price of a Snickers  in a hotel minibar. I'm not going to avoid a Hilton because they charge $1.00 more than the $7 the nearby Marriott does. I'm not buying either one's overpriced candy.





Message 167 of 184
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Super Contributor

Re: Apple approval with great SL and awful APR


@Vortexeng wrote:

Thinking I'd get on the Apple Pay bandwagon I apped last night. Approved SL of $20k but an APR of 23.8%. That's the worst they offer. They pulled a TU 784, 1% utilization, $303k income. Perfectly clean report with AAofA 4 yrs. I think I'll pass but does anyone know if you let the offer expire if the terms will always be the same?

 


Just an honest question here, would you carry a balance with $303K of Income?

 

Message 168 of 184
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Frequent Contributor

Re: Apple approval with great SL and awful APR

Congrats on the SL even though the Apr is awful.
They want to make sure you can slap all their new devices on it I think



Goal: Mortgage/Chase Trifecta




Message 169 of 184
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Established Contributor

Re: Apple approval with great SL and awful APR

Congratulations -

 

1 - When I looked into what happens if you decline an offer, what I read is that you don't get a bonus or a penalty for it. They will give you whatever offer their formula spits out at that time.

2 - That said, I don't really see how your profile is likely to improve much in the near future.

3 - I think Apple only has about three APR possibilities. The one you got is the highest of the three.

4 - Do you want a low APR just to feel good about it, or do you actually intend to carry a balance and pay interest on this card? If the former, maybe it doesn't really matter?

 

JMO. Good luck!


FICO 8 scores are deceptively high. My profile is young with a lot of new accounts and even more inquiries from 2019. The Barclay AU card is not on TransUnion; and, Equifax has some old positive accounts from 2011 that are not on the other two. That is the reason for the variation in scores. No derogs. Over 5/24 until fall 2021.
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Closed but still on reports: ExxonMobil, $950, 10/08-02/11 (Equifax only) | Citi secured, $200, 045/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.

Goals: Late 2020 - Ducks Unlimited card; scores in high 700s with inquiries aging. Long-term goal - Prime rate mortgage; able to qualify for most standard credit products.
Message 170 of 184
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