@MikeyMagic wrote:Hello,
I was curious after 1-2 months of building my credit if I would be approved for an Apple Card. I wasn't going to take it no matter what because I have enough cards, but they have a preapproval system that tells you your credit limit on a soft pull before you choose to accept.
So I just applied and was denied lol. It gave me 3 reasons( soft pulled my TU report)
1)low credit limit and insufficient payment history on my existing accounts
2)couldn't find sufficient information on secured installment accounts
3)my credit limits shown haven't increased in a timely manner.
What does #2 mean?
Anyways, the crazy part is it claims my TU credit score is 738!! i mean that can't be right, is it? I look up my TU score through Cap1 creditwise and it shows it as 635-670 range. Can that be wrong or is 738 really my score?
Thanks
2 means you don't have a car loan or a mortgage, (other than it just not having any other reasonable reason code to provide for you) what I believe it's trying to say given your profile as a reason code is: "I know you don't have much experience with revolving credit, but we could have looked past that if you had a car loan or a mortgage before."
the score provided is TU FICO 9, which is different than the TU Vantage 3.0 shown for Cap1.
I wonder if apple card will pull Vantage 4.0 if you don't have a FICO score yet, that's really cool if they do, but I've never seen that before, but it is probably Vantage 4.0, which is different than Cap1 vantage score you're provided.
Do you see your Vantage 4.0 score with your amazon card? idk if they provide it for that or not
FICO 9 scores are very generous, typically, compared to other scores, it's not unusual for a FICO 9 score to be higher than FICO 8 or vantage
myFico offers your TU FICO 9 score in one of their subscription packages if you wanted to confirm it for yourself assuming when you can see your FICO scores: https://www.myfico.com/products/fico-score-plans
@MikeyMagic wrote:
@GZG wrote:
@MikeyMagic wrote:Hello,
I was curious after 1-2 months of building my credit if I would be approved for an Apple Card. I wasn't going to take it no matter what because I have enough cards, but they have a preapproval system that tells you your credit limit on a soft pull before you choose to accept.
So I just applied and was denied lol. It gave me 3 reasons( soft pulled my TU report)
1)low credit limit and insufficient payment history on my existing accounts
2)couldn't find sufficient information on secured installment accounts
3)my credit limits shown haven't increased in a timely manner.
What does #2 mean?
Anyways, the crazy part is it claims my TU credit score is 738!! i mean that can't be right, is it? I look up my TU score through Cap1 creditwise and it shows it as 635-670 range. Can that be wrong or is 738 really my score?
Thanks
2 means you don't have a car loan or a mortgage, what I believe it's trying to say given your profile as a reason code is: "I know you don't have much experience with revolving credit, but we could have looked past that if you had a car loan or a mortgage before."
the score provided is TU FICO 9, which is different than the TU Vantage 3.0 shown for Cap1.
FICO 9 scores are very generous, typically, compared to other scores, it's not unusual for a FICO 9 score to be higher than FICO 8 or vantage
myFico offers your TU FICO 9 score in one of their subscription packages if you wanted to confirm it for yourself: https://www.myfico.com/products/fico-score-plans
Oh okay thanks so much. So do most card companies you apply to pull the Fico 9 score to decide if you will be approved? Because Apple in an email told me they soft pulled my Transunion report.
Also do you think in a year if I do things right I would get approved for this Apple Card? Thanks my friend.
you don't have a FICO score yet right? you only have 1-2 months of history reporting?
Apple card uses TU FICO 9, typically, but I wonder if they also use TU Vantage 4.0 when a FICO score isn't available
some creditors use FICO 9, you just have to check each one to see what score they use
@MikeyMagic Take a look at the thread below. It won't answer everything but has as good of info as we've got.
