In regards to the thread I started in the other forum, yes, I know this isn't a great card. But it's not a bad card either.
So why did I apply? Well, for several reasons. First, I still have something of a thin profile and only two things are going to improve that - time, and enough, but not too many, open accounts. As I'm not going to go buy a new car just to diversify my profile, credit cards are the best option open to me right now. And from what I have been able to gather here, 6-8 cards is kind of a sweet spot.
As I just got the CSP [1 EX HP], and that account hasn't reported yet, I decided to app for the Apple Card in that special way that one does. I now have 6 cards and I'm now at 6/24 and my inquiries are at 5/24 and 2/12, so only two HPs affecting my scores.
So why the Apple card? No AF, 2% catchall that I can if I want use Apple Wallet for about 70% of my monthly spend, 3% on the occasional Apple product, another $4K to help lower my utilization, and then that thing I'm told we don't talk about. Add that Apple offers a SP 100% guranteed approval with both credit limit and APR shown, so no guessing, no risk of a denial, and it was kind of a no brainer for my situation.
My hope is that the additional $11K in available credit added this week between the CSP and Apple Card will help to mitigate the hit for opening two new accounts. I assume that my thin/young profile is what is resulting in these lower SLs.
Regardless, I will be gardening for the next 8-10 months.
