@boelshine wrote:I applied for the Apple card with a Transunion credit score above 660 and no negative accounts reflecting on my credit report. I was declined.
I called the reconsideration line (Goldman Sachs) and they informed me that the denial was due to a recently closed checking account. They stated the approval/denial process is automatic and they don't have a person reviewing the credit reports. They said all they see is the remark that I was denied due to a recently closed checking account, but they don't see which bank this account was with.
They told me to contact Transunion to dispute it. I spoke to a supervisor, who assured me that there are no closed checking accounts reflecting on my Transunion consumer report - nor is there any negative information reflecting. They told me to call the Goldman Sachs back to confirm what account they're referring to. I called Goldman Sachs back and they again said they can't see which account the denial letter is referencing.
I believe the closed checking account they are referring to is a US Bank checking account that was closed earlier this year, after the account went negative and I was asssessed 2 overdraft fees. I called US Bank after speaking to Transunion and they stated the account was settled and updated on their end. Regardless, closed checking accounts are not reported to/by the credit bureaus.
What is my course of action here, given that there's nothing I can dispute on my credit report, but Goldman Sachs keeps telling me to dispute it with Transunion?
they pull chex when applying for the Apple Card, I would pull your Chex to see what is on there.
Did you recently close a checking account? Was it closed for AA?
Apple card is moving away from subprime because of their historic losses, so it wouldn't surprise me if apple card is now a minimum 700+ card
Sorry for your denial and all the back and forth calls you've had to make. I know I've read about people being denied for this same reason and it is because the info appeared not on Transunion but instead on Chex Systems which covers banking and which Goldman Sachs also uses for their determination. Perhaps there is a way to contact them and dispute this or get it removed somehow. If you're able to get it removed that should help you get approved.
Another possible alternative is to try applying on the Apple Store Website/app and at checkout choose you'd like to do installments and apply for the Apple Card. That usually increases odds of approval even if you had been denied recently.
When I did it I added some iMacs and an iPad to my cart. I had gotten denied 11 times applying in the Wallet app for having a late payment on a student loan over 3 years prior. I had last been denied 5 days prior. Applying on the website I got approved. Once approved I went into the Wallet app and clicked the + symbol in the top right corner and accepted the Apple Card offer. Then on my computer I cancelled my iMac /iPad order. Best wishes to you with this situation and your approval should you apply again!
Goldman Sachs often times requests a customized credit profile from Transunion. This customized profile Transunion provides to GS contains not only your Transunion Credit Report itself, but additional reports from Chex Systems and CoreLogics. Notification of this third party and consumer reporting agencies information having been requested and by whom requested then becomes a "part" of Transunion's credit "profile" which contains your "credit report".
This information is updated to the latest request, each time GS requests your credit info from Transunion.
You will see the Chex Systems and CoreLogics inquiries that have been requested on your Transunion credit profile/report that you can request for free directly from Transunion via annualcreditreport.com. It will be towards the very end, after the inquiries. It is in a section called "Additional Information". (You can request this free report once every 7 days).
You have a negative listing in Chexsystems whether it be fraud, account abuse, overdraft, etc. Pull a copy of your online report and get it corrected ASAP or you're in for 5 years of bank account opening bans.
As for the card, you can actually get around this by freezing your Chexsystems report and then making another request for the card. It'll still proceed anyway.
