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Update: Apple Card is now available to everyone in the US

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Frequent Contributor

Re: New Apple Card Details Leaked

  • A score of "600-700" is an awfully big range to draw conclusions from
  • For all we know, the employee could have had a 698 score and gotten a $1K limit; indicating tight lending standards
  • Alternatively, if the employee had a score of 615 it is also possible the lending standards are more lenient for Apple employees

Message 21 of 192
Super Contributor

Re: New Apple Card Details Leaked


@Caardvark wrote:
  • A score of "600-700" is an awfully big range to draw conclusions from
  • For all we know, the employee could have had a 698 score and gotten a $1K limit; indicating tight lending standards
  • Alternatively, if the employee had a score of 615 it is also possible the lending standards are more lenient for Apple employees

I think that's a good point to bring up. When HSBC was in charge of the Best Buy MasterCard, an email went out to all the employees to apply for the card. HSBC wanted as many employees possible to have one so they could use their experiences to push apps. Even people with scores in the 500s we're getting $300 limits.








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Message 22 of 192
Established Contributor

Re: New Apple Card Details Leaked

Here's a link to a frequently updated list of Apple Card features:

https://www.macrumors.com/guide/apple-card/

 

  • Apple says Apple Card will offer an APR between 13.24 percent and 24.24 percent based on your credit score.
  • One of the perks of Apple Card's rewards system is "Daily Cash," with Apple paying out your cash back bonuses on a daily basis rather than making you wait weeks for them to show up on a statement.
  • Purchases will also be protected by a one-time use dynamic security code rather than a persistent CVV

I really don't think this card is going to be one of those 'highly selective' upscale offerings. The card is highly app-centric, with customer support being provided through text messaging. So much of it is designed to appeal to millennials.

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

New CRADIS contacts, bearing 1 carom 9. Just think of EQ, TU, and EX as Cylon Basestars.

Message 23 of 192
Moderator Emeritus

Re: New Apple Card Details Leaked

I would note that most other retail cards UW down to 600 and a bit lower anyway (Sychrony et al.).

 

I don't read much into it as a result: secured cards are for the deep subprime strata such as south of 580 or whatever.  Whether the UW for this card will get down to that hard to say, but given how expensive IOS products are and if there's a tie in, well anyone that can afford to shell out 1K for a phone or whatever can probably afford to cover the 1K tradeline if they flake just sayin'.  Also Apple employee has some additional UW characteristics too.

 

Lots of non-traditional data that could go into this even: Apple knows way too much about me probably third only to Chase and Personal Capital if they looked at the data.  Google might factor in there too.

 




        
Message 24 of 192
Established Contributor

Re: New Apple Card Details Leaked


@Revelate wrote:

Whether the UW for this card will get down to that hard to say, but given how expensive IOS products are and if there's a tie in, well anyone that can afford to shell out 1K for a phone or whatever can probably afford to cover the 1K tradeline if they flake just sayin'. 

My niece and her friends have iPhones, and all their credit scores combined probably add up to 300. lol

 

They just see the $20 to $30 month finance charge on their bill and don't think twice about upgrading to the latest $800-$1000 phone. None of them makes over 28K a year.

 

Lots of non-traditional data that could go into this even: Apple knows way too much about me probably third only to Chase and Personal Capital if they looked at the data.  Google might factor in there too.


Your Apps Know Where You Were Last Night, and They’re Not Keeping It Secret

 

The most personal computer ever is with us at all times. The volume and types of data being sent from app background services would scare most people.

“The study shows, on the one hand, that the permission model on the Android operating system and its...

 

Even simple things like what times of day we pick up/put down on our phone is being tracked on a massive scale.

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

New CRADIS contacts, bearing 1 carom 9. Just think of EQ, TU, and EX as Cylon Basestars.

Message 25 of 192
Community Leader
Valued Contributor

Re: New Apple Card Details Leaked

Not looking, not looking, not loooooooking...... 

 

Lol the appeal of this card is so great....temptation rising.....Can’t. Leave. Garden....No. New. Cards......HELP 

 

Seriously, though, I do wonder when this card is coming out. Apple seems like it’s trying to build up as much suspense as it can before launching it. 

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Message 26 of 192
Frequent Contributor

Re: New Apple Card Details Leaked


@pinkandgrey wrote:

Not looking, not looking, not loooooooking...... 

 

Lol the appeal of this card is so great....temptation rising.....Can’t. Leave. Garden....No. New. Cards......HELP 

 

Seriously, though, I do wonder when this card is coming out. Apple seems like it’s trying to build up as much suspense as it can before launching it. 


I'm with you on this one @pinkandgrey! I was not planning on applying for any new cards, but this card is tempting me. I would love to see them surprise everyone with a nice SUB. I don't have the Citi DoubleCash, and use Apple Pay wherever I possibly can. The 2% would be nice, but would be even better if they upped it to say, 3%! lol

Message 27 of 192
Community Leader
Valued Contributor

Re: New Apple Card Details Leaked

Yes the temptation 😆

 

Fortunately for me and my burial in the garden  I own ZERO apple products, I am safe 😁

Message 28 of 192
Frequent Contributor

Re: New Apple Card Details Leaked


@CassieCard wrote:

 

My niece and her friends have iPhones, and all their credit scores combined probably add up to 300. lol

 

They just see the $20 to $30 month finance charge on their bill and don't think twice about upgrading to the latest $800-$1000 phone. None of them makes over 28K a year.


 

I'll see your ding dong niece and raise you:  Mine actually said, the last time I tried to educate her on credit/finances, "What's a credit score??"  She's 22.  

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Goal Score: 800's



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Message 29 of 192
Senior Contributor

Re: New Apple Card Details Leaked


@pinkandgrey wrote:

Not looking, not looking, not loooooooking...... 

 

Lol the appeal of this card is so great....temptation rising.....Can’t. Leave. Garden....No. New. Cards......HELP 

 

Seriously, though, I do wonder when this card is coming out. Apple seems like it’s trying to build up as much suspense as it can before launching it. 


Which is customary for Apple to do.









Message 30 of 192
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