Apple Card Begins Arriving to Customers, Wide Range of Credit Scores Reportedly Being Approved

[Greyland]

Kind of annoyed about the APR.

I got approved for $20K with an interest rate of 17.99% - - Credit Score is 815

What gives with the crappy interest rate!

It must have to do with Mastercard (wild guess). My limit is $1000, with interest at 24% with a mid 600 credit rating. My credit rating is totally my fault. Until lately I didn’t want credit cards, and bought everything outright (not how to build your credit).

Other than that, I can’t even begin to guess.

 

[t1tan]

Invited today, declined, Transunion 689, stated reason was late payments, but Transunion shows 100% on time. Oh well.

 

[AdonisSMU]

Invited today, declined, Transunion 689, stated reason was late payments, but Transunion shows 100% on time. Oh well.

If you were an iOS blogger or reporter with a low credit score like 600 or 580 something, you'd get approved.

 

[thebrick]

I got my physical card picked up. It is quite hefty and also makes metallic noise.
Almost no flex at all unlike all the other metal cards I've ever held.
Even with the physical card, your payment shows up as a push notification and in a Wallet App right away with location information recorded with your iPhone.

 

[Bigsk8r]

It must have to do with Mastercard (wild guess). My limit is $1000, with interest at 24% with a mid 600 credit rating. My credit rating is totally my fault. Until lately I didn’t want credit cards, and bought everything outright (not how to build your credit).

Other than that, I can’t even begin to guess.

I feel your pain there... I went "cash only" for several years too and all it did was have me languishing in the low 600's. Kind of crazy that you have to get revolving credit to have a good credit score.

At least you got approved though. Still scratching my head on my decline...

Invited today, declined, Transunion 689, stated reason was late payments, but Transunion shows 100% on time. Oh well.

Exactly the same as me (my TransUnion is 4 points lower).

I have had 1's across the board on all the bureaus since my divorce 5 years ago. If they gave a reason related to that, I could understand, but this seems a bit shady given some of the other scores we are seeing get the card.

My last late payment was 5 years, 3 months ago. Give me a break...

 

[izzle22]

Fico 861

Approved $20k / 12.9%

Also use Citi Doublecash and it’s at $35k / 13.24%

Highest FICO possible is 850. Highly unlikely you have a score of 861.

 

[AustinIllini]

That is the million dollar question. There is no rhyme or reason for that.
I get the rate and amount I got...not as stellar as some here...Pay off each month and the rate is 0%.

There's a reason. Your interest is high because of the high rate of approval.

This isn't a high end credit card with low interest and high fees. This is a low end populist credit card.

 

[tribeaumes]

There's a reason. Your interest is high because of the high rate of approval.

This isn't a high end credit card with low interest and high fees. This is a low end populist credit card.

I’m still triggered. LOL.

 

[LizKat]

What is the world coming to ? Unboxing a credit card and comparing weights of different credit cards.... life's too short and some people have too much time on their hands .....

I concur. On the other hand I'm starting to wonder if there's a market for a video of me and a neighbor unboxing the eggs and potatoes we trade from time to time... while bypassing both the cash and credit markets, of course, with the "rewards" built into the goods themselves.

 

[Bigsk8r]

Highest FICO possible is 850. Highly unlikely you have a score of 861.

FICO has an industry specific score that goes to 900. More likely though that they are referring to Transunion Vantage score which goes to 990...

 

[izzle22]

FICO has an industry specific score that goes to 900. More likely though that they are referring to Transunion Vantage score which goes to 990...

Not true. This quote is from the FICO website: FICO® Scores generally range from 300 to 850, where higher scores demonstrate lower credit risk and lower scores demonstrate higher credit risk.

 

[MattG]

If you’re using credit cards properly, the interest should be of zero concern.

Vast oversimplification. While carrying a balance should certainly be the exception and not the rule, and while I rarely carry a balance, I like knowing that if I had to, my interest will be minimal.

 

[5KDan]

Not true. This quote is from the FICO website: FICO® Scores generally range from 300 to 850, where higher scores demonstrate lower credit risk and lower scores demonstrate higher credit risk.

No, @Bigsk8r is correct. FICO Auto 9, for example, goes up to 900. There may be other versions that go past 850, but I'm too lazy to look them up

 

[adammull]

Invited today, declined, Transunion 689, stated reason was late payments, but Transunion shows 100% on time. Oh well.

Same except 683. Transunion shows on time. Uh, thanks Apple. lol.

 

[TOGURO06]

Well I Applied and was approved for 6500 credit limit 17.99% interest rate and a 760 credit score.

 

[Sarlacc]

Got my email today.

I have a 730 and they offered me $5k at 23.99%....I said no. That's just insulting. I've always had great to perfect credit. Never had late payments, etc. I only planned on using this card for my monthly apple fees and whatever apple purchases...but I'll just stick with what my current card/rewards.

 

[AustinIllini]

Got my email today.

I have a 730 and they offered me $5k at 23.99%....I said no. That's just insulting. I've always had great to perfect credit. Never had late payments, etc. I only planned on using this card for my monthly apple fees and whatever apple purchases...but I'll just stick with what my current card/rewards.

730 is definitely great, but it's far from perfect.

But yeah, that is insanely high.

 

[darkslide29]

After signing up last week, I got the invitation email and made sure to upgrade to 12.4. I followed the instructions but says it's not available to me.

I think I know what happened. This won't affect everyone, but if you're one of the poor souls that have both an 'iCloud' email and a separate 'Store' email for app store/iTunes that they never did allow to merge (I use a @me.com sign in for when starting/restoring a phone, but a different email for my itunes/app store purchases), make sure to use your iCloud ID email address.

I was thinking 'ok this is payment stuff , I will use the itunes ID', and nope, dumb mistake. Wallet is obviously tied to the icloud @me account, so now I get to re-sign up with the correct email and wait again.

 

[Rigby]

I have a 730 and they offered me $5k at 23.99%....I said no. That's just insulting. I've always had great to perfect credit. Never had late payments, etc. I only planned on using this card for my monthly apple fees and whatever apple purchases...but I'll just stick with what my current card/rewards.

Don't take it personal. High APRs are not unusual for reward credit cards. For example, the popular Chase Sapphire Reserve starts at ~20%, even though it's a high-end card that requires very good credit to be approved. These cards are not meant to carry a balance.

 

[Sarlacc]

730 is definitely great, but it's far from perfect.

I know. I said great to perfect. I've been as high as 830 in the past.
[doublepost=1565637502][/doublepost]

Don't take it personal. High APRs are not unusual for reward credit cards. For example, the popular Chase Sapphire Reserve starts at ~20%, even though it's a high-end card that requires pretty good credit to be approved. These cards are not meant to carry a balance.

You're correct and i never planned on carrying one, still getting the highest apr feels like a slight. when others are posting the same score and are saying they got higher balances and lower rates.

 

[YTest]

I just received invitation for Apple Card but I can’t do anything as I am in Europe now and all I can see is Apple Card sign and whatever I try I get smth like ‘Apple pay service is not available try later...’. Question: is there anybody NOT from US who could go further than I am?

 

[Bigsk8r]

Not true. This quote is from the FICO website: FICO® Scores generally range from 300 to 850, where higher scores demonstrate lower credit risk and lower scores demonstrate higher credit risk.

Also from FICO:

"
FICO® Auto Scores and FICO Bankcard Scores have these aspects in common:

• Many lenders may use these scores instead of the base FICO® Score.
• It is up to each lender to determine which credit score they will use and what other financial information they will consider in their credit review process.
• The versions range from 250-900 (compared to 300-850 for base FICO® Scores) and higher scores continue to equate to lower risk."

 

[ihonda]

6500 @ 17.99%

 

[pgharavi]

No, @Bigsk8r is correct. FICO Auto 9, for example, goes up to 900. There may be other versions that go past 850, but I'm too lazy to look them up

Actually, mine goes to 9,000.

 

[izzle22]

Also from FICO:

"
FICO® Auto Scores and FICO Bankcard Scores have these aspects in common:

• Many lenders may use these scores instead of the base FICO® Score.
• It is up to each lender to determine which credit score they will use and what other financial information they will consider in their credit review process.
• The versions range from 250-900 (compared to 300-850 for base FICO® Scores) and higher scores continue to equate to lower risk."

OK. Well generally from what I'm reading the top score is 850 on most sites. In any case I have never seen a score over 850 and neither has my wife who has been a mortgage underwriter for 15 years.