What does Apple Look at the most when you ask for a CLI?

[moderntechguy]

Hello! I love my Apple Card and average 2.3% cash back on it. I have a somewhat checkered credit history though with some late payments due to Covid, unemployment, and medical bills. The last time GS pulled my credit was 9/15 when I was just starting a new job and had high utilization on my cards and a FICO 9 around 660. Now, I've paid off all of my CCs with a utilization of under 1%, a balance on only one card, and a FICO 9 of 720. But Goldman seems to only randomly update their credit on file. Some say monthly, some say quarterly, some say even less frequently. I've gotten some CLIs on other cards (Chase and Citi) because they were able to manually do a soft pull when I requested they do one, but of course Goldman can't do that.

I have had months with under 5% utilization all the way up to months with 75% utilization with my 7 months on the Apple Card, averaging probably 25%. Always PIF. So excellent payment history showing I can handle my limit. I just need more room to continue to use it as my daily card and finance a few more Apple products I want on it (and not take such a hit on high utilization). I'm trying to be patient but with no clue when Goldman will update my credit, it kind of sucks just waiting around and being unable to properly use any of my other credit in the meantime.

So what does Goldman mostly look at? FICO 9? Payment history? Balances and usage of the Apple card and/or other cards? Should I wait or go ahead and ask? I do believe I saw they updated my credit in late August before updating it in mid-September so I think they update me monthly (here's to hoping). Just getting tired of waiting, and considering they just changed how frequently you can ask from 90 days to six months I want to make sure it goes though.

So what do you think I should do? Thanks!

edit: I should also note my income has gone up over 100% to high six figures since I initially applied so that should help ($180k -> $430k and only a CL of $2k). My debt to income ratio is insane.

DPs:

TU FICO 9 (as of the date of their last pull): 660

Utilization (as of the date of their last pull): 20% / $37,000 available (Total Used: $7,400)

Have one 60 day late payment over a year old, but was approved with it....now even older

Total Spend (not balances, but spend) in 7 months: $11,775

Income: $430,000

Inquiries: 3

Recently Opened: 3 (Last 12 months)

[M_Smart007]

Hi @moderntechguy and Welcome to the forums!

While I do not hold the 🍎💳

from reading many post,

it seems they rely mostly on spend. they may also look at your TU score?.

But I have a funny feeling, it is all about the spend. just my $0.02's worth.

ETA: They are also facing some headwinds of sub-prime lending.

Could be tightening the purse strings? ..It may be a little tougher and longer intervals for CLI's?

"Goldman’s Apple Card business has a surprising subprime problem"

https://www.cnbc.com/2022/09/12/goldmans-gs-apple-card-business-has-a-surprising-subprime-problem.ht...

[moderntechguy]

So I have an Apple Card with a $2,000 limit that I've had for 7 months. Heavy usage, about $1500-$2500 a month, 50-75 transactions. Average about $600-800 a month balance, always PIF. Approved with a 660 FICO 8 (not sure what FICO 9 was at the time). My Fico 9 was around 660 when they last pulled my credit (9/15) and I had 20% utilization but 50% utilization on one card which is what killed my FICO 9. Since then, I've paid off all of my debt and my TU Fico 9 has increased to 702. But I'm just sitting around waiting for them to update my credit, which I've heard is sometimes monthly, sometimes quarterly. I've read about people getting nice big CLIs even with lower scores and plenty of usage. I also have high income (mid-six figures).

So what do you think, should I just pull the trigger knowing I can always do it again in 6 months if I'm denied or try to wait our Apple until they update my credit and try to keep my credit perfect in the meantime? Thanks!

[cashorcharge]

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@moderntechguy wrote:

So I have an Apple Card with a $2,000 limit that I've had for 7 months. Heavy usage, about $1500-$2500 a month, 50-75 transactions. Average about $600-800 a month balance, always PIF. Approved with a 660 FICO 8 (not sure what FICO 9 was at the time). My Fico 9 was around 660 when they last pulled my credit (9/15) and I had 20% utilization but 50% utilization on one card which is what killed my FICO 9. Since then, I've paid off all of my debt and my TU Fico 9 has increased to 702. But I'm just sitting around waiting for them to update my credit, which I've heard is sometimes monthly, sometimes quarterly. I've read about people getting nice big CLIs even with lower scores and plenty of usage. I also have high income (mid-six figures).

So what do you think, should I just pull the trigger knowing I can always do it again in 6 months if I'm denied or try to wait our Apple until they update my credit and try to keep my credit perfect in the meantime? Thanks!

---

The delay in GS reporting updated balances to the CB's (yes, they've been notoriously slow since inception) would not really be a huge predicating factor in your approval or denial of a CLI.  Yes, they may SP your score but they are really looking internally when they process CLI's and using the factors @M_Smart007 mentioned...it's really about usage.  Asking will not affect your score so I say GO FOR IT!

[RootDet]

Did you try? what happened?

[moderntechguy]

I haven't tried yet. I've decided to wait until my credit is updated.

[NoMoreE46]

Thanks for the DPs @moderntechguy .

When did you get this card and when was your last CLI?

[moderntechguy]

Had the card 7 months. 701 Fico 9. 1% utilization. $0 in other debt. 3 late payments 2 years ago. Never asked for a CLI.

But the last time they pulled my credit my FICO 9 was 650, had over 50% utilization on 3 cards, and $16,000 on my AMEX.

So I'm (im)patiently waiting for them to pull my credit again.

[C6]

I'm sure they wonder why someone with $430,000 of income is 60 days behind on what amounts to a days pay. I think Goldman will keep you on a tight leash for a while. 

[moderntechguy]

I was medically disabled for a year and unemployed. Difficult to explain to credit companies. Already working with attorneys and gotten 3/4 of late payments removed from my report. I also made less than half what I make now prior to that year.