Approved for Apple Card and Turned It Down

[SunriseEarth]

Out of curiousity, I did the same thing.   Pre-approved for $20K with 12.99% APR.   I hit "no thanks".   I'm waiting to get new cards until I'm below 5/24, in case Chase decides to throw more money my way.   I think 2% for Apple Pay is good if I can actually do gen spending at places that accept Apple Pay.   Aside from that, it's kinda "eh".  

[CreditInspired]

---

@SunriseEarth wrote:

Out of curiousity, I did the same thing.   Pre-approved for $20K with 12.99% APR.   I hit "no thanks".   I'm waiting to get new cards until I'm below 5/24, in case Chase decides to throw more money my way.   I think 2% for Apple Pay is good if I can actually do gen spending at places that accept Apple Pay.   Aside from that, it's kinda "eh".  

---

I agree on the Chase card. I want a CSR but will wait until 2020 (garden goal). And, I also didn't want a meh card, especially for a HP when I can use that pull to get a card with better rewards.

[althes]

I will take a serious look when my score gets to at least 750.

I am currently 711 so will pay off some debt get utilization down some more.

Currently 14%.

[Anonymous]

Hello all,

So applied a few times in the last few weeks as my score has improved. Income was reported the same every time.

I may try one more time when i get another bump, which will happen about in a week.

Bascially nothing other then my util changed, and that changed 11%...

I guess the only thing i can say is they dont like a score less then 700? 

Ask away if any questions.

denial-

score 694 Util approx 38%, 10 cards with approx 150K limit, three outstanding personal loans, no other loans, six digit income, no defaults/baddies. 

denial-

score 698 Util approx 31%, 10 cards with approx 150K, three outstanding personal loans, no other loans, six digit income, no defaults/baddies. 

offered- 18K at 17.99%- refused

score- 711 Util approx 27%as of today, 10 cards with approx 150K, three outstanding personal loans, no other loans, six digit income, no defaults/baddies. 

[CreditCuriosity]

Just curious what do you want out of these experiments?  Want a higher CL?  Just playing around or think your will get a better APR?  APR won't imo change until scores go up quite a bit, pretty generous limit for what they have been giving out to alot.  

[Anonymous]

Just collecting data at this point. I was genuinelly shocked i didnt get inintially approved vs some of the other approval data points i had seen. I am just collecting data at this point basically. It would have to be a high limit (higher then this) for me to commit to the hard pull honestly. My next bump will get me above 735 which will should put me in the top bucket, so well see.

[Jnbmom]

---

@Anonymous wrote:

Hello all,

So applied a few times in the last few weeks as my score has improved. Income was reported the same every time.

I may try one more time when i get another bump, which will happen about in a week.

Bascially nothing other then my util changed, and that changed 11%...

I guess the only thing i can say is they dont like a score less then 700? 

Ask away if any questions.

denial-

score 694 Util approx 38%, 10 cards with approx 150K limit, three outstanding personal loans, no other loans, six digit income, no defaults/baddies. 

denial-

score 698 Util approx 31%, 10 cards with approx 150K, three outstanding personal loans, no other loans, six digit income, no defaults/baddies. 

offered- 18K at 17.99%- refused

score- 711 Util approx 27%as of today, 10 cards with approx 150K, three outstanding personal loans, no other loans, six digit income, no defaults/baddies. 

---

18K is a very decent SL, Apr not the lowest but not the highest either. I don't get the experiment personally most would be happy with that SL, but to each his own.

[CreditCuriosity]

---

@Anonymous wrote:

Just collecting data at this point. I was genuinelly shocked i didnt get inintially approved vs some of the other approval data points i had seen. I am just collecting data at this point basically. It would have to be a high limit (higher then this) for me to commit to the hard pull honestly. My next bump will get me above 735 which will should put me in the top bucket, so well see.

---

my best friend makes greater than 500k and got offered 20k limit at 12.99 with a 840+ fico score.  Just a DP, he declined as I told him it was a worthless card for him considering he has CSR, DC, Amex Plat business, etc.  He just did it as I was expecting him to be offered 40k limit, but for whatever reason wasn''t or he might of grabbed it at that point his other higher card limit is I believe the CSR at 80kish or somewhere around there if i recall correctly, DC at 55k and so on.

[Anonymous]

It’s not the 700 score imho. Lots of sub 700 approvals. It was your utilization being above 30% the first two times. Below 30 is obviously not an automatic approval but you need an otherwise strong profile once your utilization passes certain thresholds for some banks.

[Aspireto850]

@financiallycurious,

Did you ever consider that it was the drop in your utilization and NOT your score that garnered the approval? When you decreased from 38% to 27% you crossed over into a new utilization threshold which puts you in the ‘responsible Lending’ category. Just food for thought.