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Got approved Apple Card $9K, but seems low!?

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ghector
Valued Member

Got approved Apple Card $9K, but seems low!?

[EDIT: I went ahead and accepted it yesterday, and marked my calendar to do an SLI in 91 days! Smiley Very Happy (Mod cut - these kinds of discussions are not permitted here per the myFICO Forums TOS @ghector)

So, I went ahead and applied for the Apple Card through the Wallet app last night. I got a $9K limit with 12.99% APR. Do you all think this is low, and would it be better to deny it and try again another time? If so, how soon can I try again? I went through a ton of posts last night to see how my number compares and it seems for my credit, I should have a higher limit, so I'm curious if anyone has any insight. Thank you! Smiley Happy

 

Credit:

Transunion 824 (this was the number Apple gave me in their report)

6% CU

$120K income

I have one HP for a card back in June- this has a SL of $18K. (Sapphire).

Average Age of Accounts 13 years

Credit history clean.

 

Any ideas? I hope I don't sound ungrateful. I'm trying to learn and understand so I can take advantage of hard work I put in. (I've always had bad credit- my credit score was in the mid 500s this past Feb!)

 

thank you so much!

Message 1 of 27
26 REPLIES 26
Rebuild2019
Valued Contributor

Re: Got approved Apple Card $9K, but seems low!?

Congratulations 🎉🎈🎊 on your Apple Approval.

CARDS: Discover It | Kohl’s | Truist Spectrum Cash Rewards | Truist Bright | CITI Custom Cash | Chase Freedom Flex | Chase Amazon Prime Visa | VACU Cash Rewards Mastercard | Sam’s Club Mastercard | PenFed Gold Visa | NFCU CashRewards | NFCU More Rewards | NFCU Platinum Visa | AMEX BCE | Verizon Visa | Wells Fargo Active Cash | Amazon Prime | NFCU Auto Loan
Starting Scores 05/2019: EQ:519, EX:525, TU:574

CLOSED : Capital One Quicksilver One | OpenSky |
Message 2 of 27
Yasselife
Valued Contributor

Re: Got approved Apple Card $9K, but seems low!?

@ghector I've seen most people start with a $1,500 but seeing your profile and income I can understand your expectations. My income is 1/3 of yours and I've been pre approved for $4k.

Imo they welcomed you with flowers amd chocolates in comparison with me and others lol






Message 3 of 27
gdale6
Moderator Emeritus

Re: Got approved Apple Card $9K, but seems low!?

Grats on your Apple card approval & welcome to the board Smiley Happy

Message 4 of 27
CreditAggie
Community Leader
Super Contributor

Re: Got approved Apple Card $9K, but seems low!?

Congratulations on your Apple Card offer! I would accept it. $9K and 12.99% is good for the card. It can also be grown with SP CLIs. 

Current Cards (in order of approval):

         
Current FICO 8 | 9 (June 2024):  
Credit Age:  
Inquiries (6/12/24):  
Banks & CUs:

Message 5 of 27
Jordan23ww
Valued Contributor

Re: Got approved Apple Card $9K, but seems low!?

Congratulations to you on your approval and all your credit rebuilding success! To be honest your $9000 is a fantastic starting point! Goldman Sachs for many applicants tend to be really conservative. A lot of people start off with less than $2000.  People with $20K+ limits elsewhere have seen $4000 starting limits or less. 

The great thing is, as conservative as Goldman Sachs can be with starting limits, they tend to be the opposite with increasing limits. The Apple Card website says between 4 months and 6 months with the card you can start to get limit increases. After the first increase you can routinely get additional increases every 91 days. So if you use this card regularly you should easily reach the credit limit you expected in no time. I started at $2100 last November and I'm up to $8850 so far. Limit increase requests are always soft inquiries. 

      


Message 6 of 27
ghector
Valued Member

Re: Got approved Apple Card $9K, but seems low!?


@Yasselife wrote:

@ghector I've seen most people start with a $1,500 but seeing your profile and income I can understand your expectations. My income is 1/3 of yours and I've been pre approved for $4k.

Imo they welcomed you with flowers amd chocolates in comparison with me and others lol


hehe thanks! yah,, I've seen a lot of $1500 on the board. I just want to make sure there isn't something else going on.

Message 7 of 27
ghector
Valued Member

Re: Got approved Apple Card $9K, but seems low!?


@CreditAggie wrote:

Congratulations on your Apple Card offer! I would accept it. $9K and 12.99% is good for the card. It can also be grown with SP CLIs. 


thanks! Yah,, I've seen some generous CLIs, so that's hopeful! Smiley Happy

Message 8 of 27
ghector
Valued Member

Re: Got approved Apple Card $9K, but seems low!?


@Jordan23ww wrote:

Congratulations to you on your approval and all your credit rebuilding success! To be honest your $9000 is a fantastic starting point! Goldman Sachs for many applicants tend to be really conservative. A lot of people start off with less than $2000.  People with $20K+ limits elsewhere have seen $4000 starting limits or less. 

The great thing is, as conservative as Goldman Sachs can be with starting limits, they tend to be the opposite with increasing limits. The Apple Card website says between 4 months and 6 months with the card you can start to get limit increases. After the first increase you can routinely get additional increases every 91 days. So if you use this card regularly you should easily reach the credit limit you expected in no time. I started at $2100 last November and I'm up to $8850 so far. Limit increase requests are always soft inquiries. 


Thank you, that's very helpful. And wow, $6K in a year, very nice! I didn't know they were so conservative! Sounds like I need to unlock my TU and accept it! Smiley Very Happy 850 experian?! and 193K limit?! hot **bleep**. I definitely want to strive for that! Smiley Happy

Message 9 of 27
Anonymous
Not applicable

Re: Got approved Apple Card $9K, but seems low!?

Congrats for the approval! Looks like a fanstatic SL. Don't they give you a hp since you are being approved? Wow, that is a huge jump from the mid 500s to 824 (from TU). Please can you provide us some data points? Thanks.

Message 10 of 27
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