Apple Card (Chase IIBK)

[Stephen_Credit]

Hi everyone! 

Wanted to get the community's thoughts on Apple Card for those who had included Chase in BK.

I'm assuming Chase will have to clean up the sub-prime and delinquent accounts once the acquisition goes through. 

What does this mean for someone well into their rebuild? 

EX: I have a pre-approval for the Apple Card, not path to Apple Card. Say I complete the app and get approved. 700+ across 3 bureaus, 5 yrs post dc.

1. What is the likelihood they close the account upon transferring to Chase? I believe citi did this some time back I read somewhere on these forums.

2. What is the likelihood the card gets bucketed?

3. Is this a valid move or is it better to just wait until the bk falls off and eventually apply for the chase ecosystem?

[FicoMike0]

If you want the apple 🍎card, I'd get it before Chase takes over. They're less likely to dump you if you already have an account. The cobrand deal might help too. I just got the prime card, even though I was 5/24.

[Yasselife]

If Chase takes over the Apple Card; there’s definitely a chance they could review accounts tied to prior bankruptcies involving Chase. In some cases; issuers have closed or restricted accounts after acquisitions, but it’s not guaranteed. Bucketing is also possible if they decide to limit credit growth based on risk history. If you’re already 5 years post-DC with 700+ scores; you might get through without issues; but waiting until the BK falls off would remove that risk entirely. It comes down to whether you want the Apple Card benefits now or prefer to play it safe for a future Chase relationship.

[ptatohed]

What is IIBK?

[FicoNuco]

IIBK = included in bankruptcy

[Stephen_Credit]

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@Yasselife wrote:

It comes down to whether you want the Apple Card benefits now or prefer to play it safe for a future Chase relationship.

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This is the unfortunate conundrum.

I've seen people with adverse/limited histories get in with chase with their issues but get bucketed.

On the other hand, I've seen people who  previously had adverse histories but waited for derogs to age out, get in with chase and grow.

There's also the possibility that I remain blacklisted way past 7+ or 10+ yrs, so Apple Card may bypass that 

I don't have  interest in the Apple Card per se, however, I do have interest in the Chase ecosystem.

Whats the best move here? 

Also, for reference, CSP was burned for 9k.

[swankytiger]

I mean even if they take you(if they do end up becoming the new issuer), having burned them in the past there is a possibility that they still dont give you any other Chase cards.

[Stephen_Credit]

I'm checking all the boxes I need for the moment with the cards I have. So I'll wait until I'm 7-8 yrs post dc and try chase. If I get in great, if not, that's okay too