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@RootDet wrote:Thanks. I wish every bank did apps this way. Soft pull, show you the apr and credit line, then give the ability to accept with the hard pull or decline with only the soft.
It prevents customers from being disgruntled with the terms after the fact.
Right?? Like it can obviously be done, so why are no other banks doing this? Well, I mean, I understand why, but I've never seen any other bank offer anything like this before, unless you're already a member of that bank.
@RootDet wrote:I wanted to see what would be offered with my profile, so I thought I would share some DP's.
Credit line offered: $10k (Offer was less than 10% of income, but seemed rounded)
APR: 17.99
Score: 819
Income: Low 6 figures
Credit Profile: Thick profile with about 20 cards. About 5% util, DTI is probably around about 30% (would have to crunch numbers, but cant be much higher). Low inquiries (less than 5 over 24 months, nothing within last 12 months on TU)
Highend Cards: Penfed at $50k, Discover at $46k, BOA at $56k, Two AMEX one at $25k, the other at $32.5k, Navy at 50k, Usbank at $25k, Paypal Mastercard $25k, Walmart store $25k
Low End Cards: Local CU CC: $12k, Local CU Od: $4k, Crapone: $6.5k (my oldest), Navchek: $15k, Citi: $15k (had a $32k line until they sold it, they been going slow ever since), Chase Amazon at $15k, and Chase Freedom (2nd oldest) at $17.5.
Car loan at 75% paid off.
Last new account: About 7 months ago now
So, i feel they low balled the offer significantly. Perhaps the CC debt scared them away a bit, but it seems like $10k is the average credit line offered for those in my range. I was hoping they may surprise me with something like 30k or etc that would peak my interest. I just was not willing to get a new account for something so low, and no indications of future growth.
Ironically, GS has been always willing to offer me fixed loans for $100k+
Wow, what an awesome credit profile. It could be that Apple/GS felt you wouldn't need higher than $10K since you already have quite a few prime cards in your arsenal.
@Queen_Etherea wrote:
@RootDet wrote:Thanks. I wish every bank did apps this way. Soft pull, show you the apr and credit line, then give the ability to accept with the hard pull or decline with only the soft.
It prevents customers from being disgruntled with the terms after the fact.
Right?? Like it can obviously be done, so why are no other banks doing this? Well, I mean, I understand why, but I've never seen any other bank offer anything like this before, unless you're already a member of that bank.
And this is why Apple is Apple. They're creative and have always been the brand that leads the pack.
What "wallet" did that show up in? New to these forums and still trying to figure out what some things are people refer to lol! Good job on the self-control too!
@Anonymous wrote:What "wallet" did that show up in? New to these forums and still trying to figure out what some things are people refer to lol! Good job on the self-control too!
Thank you.
The "wallet" app is on your iPhone. Look in Settings and scroll down to Wallet & Apple Pay.
Also, here's a list of common abbreviations we use here on MyFICO
http://ficoforums.myfico.com/t5/User-Guidelines-General/Common-Abbreviations/td-p/88458