Has the underwriting gotten stricter for the Apple Card recently?

[DeeBee78]

I am firmly in the garden until I close on my house in two months, but I like checking preapprovals now and then to see what is out there. In February, my Apple card preapproval came back with a $10K starting limit. When I just checked it now, it came back with a $4k limit. If anything my profile is stronger than it was two months ago, (several recent large SP CLI's on aged accounts).

I know the Apple Card is moving to Chase in a couple of years, which makes me nervous since I burned them (then settled). Who knows if I'll even be allowed to keep it if I do apply for one after closing.

Do you think that tightening lending standards is part of the transistion to Chase? 

[Tdatb64]

How large were your recent CLIs? Do they add-up to $6G or more? It could be that they pushed your TCL up to the point where $4G is all that's left before you hit the ceiling that GS's algorithm has determined for you based on your scores, history, income, debt load, etc. I suppose it's possible GS might be tightening underwriting (under orders from Apple as part of Apple's new agreement with Chase).

[nuriyakaila]

Could just be their algo being weird tbh, I’ve seen limits swing like that with no real reason. If you’re 2 months from closing, I wouldn’t poke the credit bear too much.

[DeeBee78]

---

@Tdatb64 wrote:

How large were your recent CLIs? Do they add-up to $6G or more? It could be that they pushed your TCL up to the point where $4G is all that's left before you hit the ceiling that GS's algorithm has determined for you based on your scores, history, income, debt load, etc. I suppose it's possible GS might be tightening underwriting (under orders from Apple as part of Apple's new agreement with Chase).

---

One was $6k and one was $3600, neither are reporting yet. 

[crystal626]

Banks are tightening up as they're expecting the house of cards to fall soon. We are headed straight into a depression if things keep going the way they are. After all, they're saying gas prices could be up over $7 a gallon by the end of summer due to the economic fallout and widespread damage in the Middle East from the Iran war.

[ElvisCaprice]

CNBC had an article on just this.  About how war/conflict can make lenders tighten standards.  

U.S.-Iran war is coming for your credit score, mortgage application