How soon Apple GS will report new accounts to CRAs

Red1Blue · ‎09-23-2021

I am excited that I got approved for Apple GS Card. Now I have to start focusing on the house cleaning activities on the reports. I want to pay off the balance on the account before it reports to CRAs. How soon Apple GS will report new accounts to CRAs. Is it right away like Sync and Comenity? Will it be after the statement cut or before the statement cut. What is your experience.

Anonymous · ‎09-23-2021

@Red1Blue wrote:
I am excited that I got approved for Apple GS Card. Now I have to start focusing on the house cleaning activities on the reports. I want to pay off the balance on the account before it reports to CRAs. How soon Apple GS will report new accounts to CRAs. Is it right away like Sync and Comenity? Will it be after the statement cut or before the statement cut. What is your experience.

My GS Apple card was opened on July 19, 2021 but did not report until 8/31/2021. This was the same at all three CB's

I hope this helps.

Thanks

Mark

Red1Blue · ‎09-23-2021

@Anonymous wrote:
My GS Apple card was opened on July 19, 2021 but did not report until 8/31/2021. This was the same at all three CB's
I hope this helps.
Thanks
Mark

Thanks @Anonymous So I'll have some time to catch with the balance on the card. I am concerned about the high balance it will show on the card since I used it to purchase $1238 Apple products and they gave credit limit of $1500 only. I dont want the card show it is maxed out. I have already setup a Apple GS as payee in my BOA Billpay and sent a $1.00 test transfer. If that works out well then I can go ahead and pay off the card and bring the balance down on the account to near zero. I don't want to have a new account showing as maxed out and bring the scores down again. Let us see how it works it in the next 3-4 months. Thanks for sharing your experience with us.

Anonymous · ‎09-23-2021

yeah, well high utilization is never good. I would try and keep it under 29% at the most. Under 9% would be better. But it is the kind of thing that if it reports high it is just a temporary hit to your FICO score, as you pay it down the scores will increase. Try to do this by day 90 if you want a CLI. Based on your stratagy I see no reason why they would decline you at 91 days if you can pay it down before the 91 days. If you can't pay it down that quickly do not ask for a CLI until you do.

Thanks

Mark

cashorcharge · ‎09-23-2021

Apple does not do mid-cycle reporting. If your account was open this month for example, a statement would generate on 9/30 and if your account has a balance that night, that will eventually report. I say eventually because GS is notorious for lagging in reporting. ON average, though the statement closes on the last day of the month and it's that data that is actually reported...it takes roughly 15-19 days before it updates on CB's. I'm not sure how quick they'll be to report since your account is new but suffice to say, they lag each month.

Libra85 · ‎09-25-2021

@Red1Blue wrote:
I am excited that I got approved for Apple GS Card. Now I have to start focusing on the house cleaning activities on the reports. I want to pay off the balance on the account before it reports to CRAs. How soon Apple GS will report new accounts to CRAs. Is it right away like Sync and Comenity? Will it be after the statement cut or before the statement cut. What is your experience.

About 45 days. Opened card 8/12 1st statement cut 8/31 reported to CRA EQ 9/18 EX 9/19 TU 9/23. There is is a error with the reporting. They reported my account a closed. In a dispute process with all 3 CRA and Apple/GS at the moment.

https://ficoforums.myfico.com/t5/General-Credit-Topics/Apple-Card-Reported-as-CLOSED/m-p/6410468#M31...

October 2021

Anonymous · ‎10-17-2021

I was trying to optimize my scores for a new car loan, so I implemented AZEO+AU for the risrt time and got my Self loan down below 8%. Got a nice 20ish point jump on all 3 CRs. I new this month would be the ideal window to get this done as I have 2 new Amex and Apple card that haven't started reporting yet. The first Amex shouldn't start reporting until next month, according to their CS.

I thought the Apple card, which opened Sep 5, wouldn't start reported for a few months. At least from all the threads talking about how late and irregular GS was with reporting. To my surprise it appeared on all 3 CRs the end of last week (Oct 14). The worse part is that I had a balance of 80% of CL. I only had that balance trying to maximize spend for future CLI and moved some shells around to optimize scores and thought I would be fine to PIF before the end of this month.

Needless to say, score dropped. I didn't get a chance to pull the trigger on the auto loan as I couldn't get the price I wanted initially and I had to go away for a conference. I was pre-qual with Capital One Auto Navigator around 3.2-4% depending on term for $35-40k. Can't run the pre-qual for another 30 days so I might have to roll the dice and see what happens. Hopefully, the score drops won't increase rates too much.