Apple Card: Credit Limit Increase

Costino1

macrumors 6502a
Original poster
Oct 1, 2012
635
402
I attempted to research how to perform this and how it works, but no luck. Im in the market for a new iMac and require a credit increase to do so and take advantage of the 6% cash back. I'll pay it off before the end of the year, but want to have that discount too.

Today I went thru the Apple Pay Apple Card app and messaged an associate requested a credit limit. I guess that's the only way to do it.... Need to wait a few days they said before I receive an email if I was approved/declined.
 

izzle22

macrumors 6502a
Jul 13, 2004
743
106
Kansas City, MO
I attempted to research how to perform this and how it works, but no luck. Im in the market for a new iMac and require a credit increase to do so and take advantage of the 6% cash back. I'll pay it off before the end of the year, but want to have that discount too.

Today I went thru the Apple Pay Apple Card app and messaged an associate requested a credit limit. I guess that's the only way to do it.... Need to wait a few days they said before I receive an email if I was approved/declined.
Yeah they told me it would take up to 30 days to let me know a decision. It's been 2 weeks now and no email yet.
 

Costino1

macrumors 6502a
Original poster
Oct 1, 2012
635
402
Up to 30 days ???!!! What an amateur operation Apple and GS are running...
Thanks for that feedback. Its been 5 days now and I was wondering when Id receive an answer. Guess I'll wait longer. I dont require the additional credit, just curious to see how the process works.
 

izzle22

macrumors 6502a
Jul 13, 2004
743
106
Kansas City, MO
Thanks for that feedback. Its been 5 days now and I was wondering when Id receive an answer. Guess I'll wait longer. I dont require the additional credit, just curious to see how the process works.
Yes. Same for me. They initially gave me a $10,000 credit limit. It’s fine and I don’t need more but it’s less than my other cards. I just messaged them again and they told me again that it would be up to 30 days and it’s only been 2 weeks. Guess I’ll just keep waiting. Can’t understand why it would take so long? They should be able to give an answer right away.
 

kevink2

macrumors 65816
Nov 2, 2008
1,379
128
Yes. Same for me. They initially gave me a $10,000 credit limit. It’s fine and I don’t need more but it’s less than my other cards. I just messaged them again and they told me again that it would be up to 30 days and it’s only been 2 weeks. Guess I’ll just keep waiting. Can’t understand why it would take so long? They should be able to give an answer right away.
Most of my CCs are in the $10,000-16,000 range, so the $9,000 was lower than I expected. But I didn't really get into the income number, just giving them my nominal annual salary, not counting other sources of income like dividends.
 

ActionableMango

macrumors G3
Sep 21, 2010
9,511
6,700
833 credit score. Oh no, it's like you are some kind of barbarian. I'm surprised MacRumors lets your kind post here. ;)

Seriously though, that makes no sense. It's a top notch score. The only thing that makes sense here is that GS is new to the credit card business, has no idea what they are doing, and is understaffed.
 

Eric Idle

macrumors newbie
Jan 4, 2020
11
3
833 credit score. Oh no, it's like you are some kind of barbarian. I'm surprised MacRumors lets your kind post here. ;)

Seriously though, that makes no sense. It's a top notch score. The only thing that makes sense here is that GS is new to the credit card business, has no idea what they are doing, and is understaffed.
Apple Card is just pathetic. I asked for and was declined a credit increase. I have an 830+ credit score, 200K/year salary, and ZERO debt outside a small mortgage. None of my other credit cards have a limit less than $20k. Yet Apple won't give me more than $8k. I have not carried a monthly balance on my cards or missed a payment in 30 years. Ridiculous.
 

faust

macrumors 6502
Sep 11, 2007
319
119
Los Angeles, CA
Apple Card is just pathetic. I asked for and was declined a credit increase. I have an 830+ credit score, 200K/year salary, and ZERO debt outside a small mortgage. None of my other credit cards have a limit less than $20k. Yet Apple won't give me more than $8k. I have not carried a monthly balance on my cards or missed a payment in 30 years. Ridiculous.
Goodness, how many credit accounts do you have open? I got approved for 30k with a 750 credit score. Must be something your credit report to explain this, my man! Tsk, tsk, tsk.
 

california_kid

macrumors regular
Sep 9, 2016
244
282
San Francisco
If you want a certain credit limit, you want to spend about 5-10% of the desired limit on a monthly basis and also payoff that balance each month. Do this for about 6 months and you should have no problem getting an increase to your desired limit. 10% is around the max utilization for a given credit card before your credit score takes a hit.

If you don't spend 10% of your limit on a regular basis, you really don't need a credit increase. Also, you may want to take advantage of free financing of an Apple product, but keep in mind, the entire purchase price will be charged on day 1 and you will get a monthly payment schedule. For example, if your limit is 10K and you finance $5K, your balance will be $5K and utilization will be 50%. That will drop your credit score by 20-30 until you pay off. As long as you don't expect any other new credit lines during the payoff, then it's fine.
 
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konqerror

macrumors 65816
Dec 31, 2013
1,482
2,458
If you don't spend 10% of your limit on a regular basis, you really don't need a credit increase.
Not really. I don't spend more than 5% on all of my other cards, and they have no problem with my credit limit, even giving me automatic increases. It costs them very little to provide credit that's rarely used.

They miss out on infrequent emergency spending: for example when I put $30k of emergency work server purchases. Or when you go on international travel once a year and charge pricey airline tickets and hotels.

This is why all of the high-end cards, like American Express charge and most Visa Signature and World MasterCard lines are no preset limit, allowing flexibility for these situations.
 
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california_kid

macrumors regular
Sep 9, 2016
244
282
San Francisco
They miss out on infrequent emergency spending: for example when I put $30k of emergency work server purchases. Or when you go on international travel once a year and charge pricey airline tickets and hotels.

This is why all of the high-end cards, like American Express charge and most Visa Signature and World MasterCard lines are no preset limit, allowing flexibility for these situations.
Personally, I think credit cards should be the very last option for infrequent emergency spending especially if the balance cannot be paid off before interest accrues due to the high interest rates. There is certainly no harm in getting automatic credit line increases, but my comments were directed specifically to folks who were having difficulties in getting Apple to increase their initial credit lines which is the point of this whole thread.
 

ZipZap

macrumors 603
Dec 14, 2007
5,468
885
Apple Card is just pathetic. I asked for and was declined a credit increase. I have an 830+ credit score, 200K/year salary, and ZERO debt outside a small mortgage. None of my other credit cards have a limit less than $20k. Yet Apple won't give me more than $8k. I have not carried a monthly balance on my cards or missed a payment in 30 years. Ridiculous.
Because you probably have too much open credit. Cards with not balance are not the only factor. If you have 5 cards with 20k on each you have 100K of open credit. That has an impact as well. In your situation, why do you need the Apple Card at all.
 

Eric Idle

macrumors newbie
Jan 4, 2020
11
3
Because you probably have too much open credit. Cards with not balance are not the only factor. If you have 5 cards with 20k on each you have 100K of open credit. That has an impact as well. In your situation, why do you need the Apple Card at all.
Nope. That's not it. I have had this amount of open credit for over 20 years. Not one missed payment, ever. My credit score is maybe 10 points from the maximum possible. The next payment I miss will be my first.
- - Post merged: - -

Goodness, how many credit accounts do you have open? I got approved for 30k with a 750 credit score. Must be something your credit report to explain this, my man! Tsk, tsk, tsk.
I have 3 credit cards open. You are 100% incorrect.
 

ZipZap

macrumors 603
Dec 14, 2007
5,468
885
Nope. That's not it. I have had this amount of open credit for over 20 years. Not one missed payment, ever. My credit score is maybe 10 points from the maximum possible. The next payment I miss will be my first.
- - Post merged: - -



I have 3 credit cards open. You are 100% incorrect.
Your rejection is proof that something is amiss:

1 either your credit is not as good as you say
2 You have too much open credit
3 the likelihood you would use the card was determine to be nil by goldman.

Regardless, you will or did receive a letter stating why you were rejected. Share that.
 

Eric Idle

macrumors newbie
Jan 4, 2020
11
3
Your rejection is proof that something is amiss:

1 either your credit is not as good as you say
2 You have too much open credit
3 the likelihood you would use the card was determine to be nil by goldman.

Regardless, you will or did receive a letter stating why you were rejected. Share that.
Your list of options is amusing, very amusing, in its complete lack of assigning any possible blame towards GS. I get it, there is no chance at all that GS' policies could in any way, shape, or form be incorrectly formualted.
 

ZipZap

macrumors 603
Dec 14, 2007
5,468
885
Your list of options is amusing, very amusing, in its complete lack of assigning any possible blame towards GS. I get it, there is no chance at all that GS' policies could in any way, shape, or form be incorrectly formualted.
Youre dreaming.Their policy is based on their risk/reward profile.

When you get that followup letter let us know what they said.
 
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jetjaguar

macrumors 68040
Apr 6, 2009
3,021
997
somewhere
Just spoke with them and there is no hard pull and it takes 5-7 days to get a decision. Probably going to try. Ill update if I decide to do it.
 
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burgman

macrumors 68020
Sep 24, 2013
2,022
1,452
How bored do people have to be to open another “unneeded credit card” not use them, try to get a credit increase, then complain on a forum about the process. 🍿
 

Ngamtns706

macrumors regular
Sep 21, 2015
212
82
The data points I have seen is GS wants the Apple Card to be your main card (like capital one) they’re not going to give a increase often without heavy use. American Express gives increases pretty heavy without heavy use although that is changing. Debt is rising so lenders are tightening up slightly.