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Yes. Another one bitten by the Apple Bug ...

Aim_High
Senior Contributor

Yes. Another one bitten by the Apple Bug ...

I can't believe I did this but all the Apple posts made me curious since it was a SP to check after all.  I've not been a mobile wallet kind of guy and not lifelong Apple guy either.  Then, I was tempted by the Apple and accepted.  Just call me Adam.  Lol

 

A P P R O V E D !!  $20K Limit @ 12.99% APR  Smiley Very Happy


TU FICO Score 9 = a perfect 850

Credit file over 30 years thick.

CLs on other personal cards $21.9K to $50K.

Utilization 1% PIF + mortgage + one small auto loan

Income over $350K

Total Credit Lines > $375K

And ... I even have a Goldman Sachs MARCUS Money Market with very large balance

 

So I was very pleased with the lowest-available APR of 12.99%!

 

However, with my very strong stats above, not to mention the high income and large investment with GS, I was suprised to see Starting Limit of $20K after seeing other recent approvals for $25K to $40K.  I imagine CLIs will be available though.  I think they may be lowering the SLs over time to save available funding for more applications, as others speculated??   My only negative I can think of was that I've applied for five Chase cards in past 16 months, but those HPs only went on my EX report, not TU, and they obviously didn't affect my FICO score. This was also my first card in my Apple Wallet and I've never used mobile wallet before if that might make a difference.

 

Perhaps $20K is the new maximum for most applicants.  Regardless, $20K is a very respectable SL and I'll definitely take it!! 

 

Congrats to all the other approvals!! 

 

Apple_Card_20190822_01.png       FICO TU Score 9 20190822.pngFICO TU Score 9 20190822.png

 



Length of Credit > 35 years; Total Credit Limits > $600K
AoOA > 29 years (Jun 1993); AoYA (Nov 2021)
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 1 of 10
9 REPLIES 9
AnimalHouse121
Valued Contributor

Re: Yes. Another one bitten by the Apple Bug ...

Congrats on the approval!!
Message 2 of 10
UH_HUH
Valued Contributor

Re: Yes. Another one bitten by the Apple Bug ...

Well done Sir!

Message 3 of 10
JR_TX
Valued Contributor

Re: Yes. Another one bitten by the Apple Bug ...

Congrats and Wow! Perfect score and near half-a-mil income and only $20K SL??!! 

You should have been the Apple/GS record holder in the myFICO community of no less than $50K SL!!! Reject that offer quick!! 😝 😂 😆 

New cc TLs : 0/6 ; 0/12 ; 2/24 | HPs EX 1 EQ 3 TU 1 | AAoA 6y6m | UTIL 1% - 3% | $269K+ Total Limits

Message 4 of 10
Aim_High
Senior Contributor

Re: Yes. Another one bitten by the Apple Bug ...


@JR_TX wrote:

Congrats and Wow! Perfect score and near half-a-mil income and only $20K SL??!! 

You should have been the Apple/GS record holder in the myFICO community of no less than $50K SL!!! Reject that offer quick!! 😝 😂 😆 


I know, right?!  Lol Smiley LOL

Too late, I took it but figured I would make them give me more later.  Smiley Wink

Still trying to figure out why they low-balled me with an 850 FICO etc.

May be the recent apps (I have three new cards this calendar year and one of them is less than two weeks old.)

Does make me wonder if I refused it and then went back later if they might have sweetened the offer? 



Length of Credit > 35 years; Total Credit Limits > $600K
AoOA > 29 years (Jun 1993); AoYA (Nov 2021)
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 5 of 10
CreditCuriosity
Moderator Emeritus

Re: Yes. Another one bitten by the Apple Bug ...

Congrats.  Was suprised had my friend do pre-approval today as he was curious about card and i said it was meh, but it is a SP to check apr and limit he makes > 500k a year and was offered 20k at 12.99 as well with fico's in the 840+... So I speculate those 40k approvals have dried up most likely and as you stated they might be scaling back as his CL's are from 30k - 100k and only about 6 cards.  The 30k is discoer rest of cards > 50k.  Goldman is certainly being pretty frugal with their approval amounts overall.

Message 6 of 10
credit_is_crack
Valued Contributor

Re: Yes. Another one bitten by the Apple Bug ...

Nice Snag @Aim_High! I'm too confused by the SL, ESPECIALLY since you're sportin that 850 -- not sure how many customers they expect to apply with an 850 lol Lots of speculation but they don't seem to be a easily predictable as hoped. Since I know it can get to at least $40k i'll be chasing that as soon some CLI options open up.

 

Good news is it's always easier to chase a CLI than an APR reduction so big win! Congrats again!

Message 7 of 10
AverageJoesCredit
Legendary Contributor

Re: Yes. Another one bitten by the Apple Bug ...

Eat wellSmiley Happy
Message 8 of 10
Aim_High
Senior Contributor

Re: Yes. Another one bitten by the Apple Bug ...


@CreditCuriosity wrote:

Congrats.  Was suprised had my friend do pre-approval today as he was curious about card and i said it was meh, but it is a SP to check apr and limit he makes > 500k a year and was offered 20k at 12.99 as well with fico's in the 840+... So I speculate those 40k approvals have dried up most likely and as you stated they might be scaling back as his CL's are from 30k - 100k and only about 6 cards.  The 30k is discoer rest of cards > 50k.  Goldman is certainly being pretty frugal with their approval amounts overall.


Thanks @CreditCuriosity, that makes me feel a little better than your friend was offered the same limit and apr!  Made me wonder if I was missing something negative about my profile that was detracting from it. 

 

Yes, the card is kinda ... meh ... in most respects, but I applied for a few reasons. I was curious about what they would offer.  It's my first mobile wallet card so I thought it might be neat to check that out.  I may actually like the convenience of electronic pay and not having to carry cards.  Smiley Happy 

 

I have that large money market savings fund so I already had a banking relationship with Goldman Sachs.  It's also another major bank that I had no credit relationship with, so more diversity.  And all of my oldest credit card accounts have been PC'd into newer products.  Maybe since GS is new to credit, they may expand their offerings or sweeten the Apple card down the road, so I thought it would be good to have for options.

 

And, actually, I have never added a 2% on everything, anytime card to my wallet, so this gives me my first one, as long as they take Apple Pay.  (I still plan to add at least one other flat 2% card in the next year or so ... thinking I like the Penfed Power Cash military Honors Advantage program more than other offerings.)  



Length of Credit > 35 years; Total Credit Limits > $600K
AoOA > 29 years (Jun 1993); AoYA (Nov 2021)
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 9 of 10
Aim_High
Senior Contributor

Re: Yes. Another one bitten by the Apple Bug ...


@credit_is_crack wrote:

Nice Snag @Aim_High! I'm too confused by the SL, ESPECIALLY since you're sportin that 850 -- not sure how many customers they expect to apply with an 850 lol Lots of speculation but they don't seem to be a easily predictable as hoped. Since I know it can get to at least $40k i'll be chasing that as soon some CLI options open up.

 

Good news is it's always easier to chase a CLI than an APR reduction so big win! Congrats again!


Yes, that's a good point about CLIs being easier than APR reductions!  I'm optimistic that if we put some spend on it reguarly that they will agree for some upgrades down the road for both of us!   Thanks and congrats again on your Apple approval also!



Length of Credit > 35 years; Total Credit Limits > $600K
AoOA > 29 years (Jun 1993); AoYA (Nov 2021)
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 10 of 10
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