Apple Card Rolling Out Today to Limited Number of Customers

[mattopotamus]

another tidbit i noticed with the card after making my first purchase with it, you can't pay any balance off until it posts fully to the card. not something i like, but it isn't bad.

That seems to vary from bank to bank, but not that uncommon. Does anyone know if the balance is immediately reflected once you make a payment?

For example, I have a Citi double cash card that immediately adjust my available balance as soon as I do a payment. My Amex doesn't adjust the balance until the payment actually post.

 

[Frehley]

yea i'm curious as to what they view in order to be approved at a low interest rate. my transunion and equifax score is around the same, around 792 and my experian is 810. so i dont know. i also put in 95,000 for income. i was not asked for any ID. just my last 4 of my social and to confirm my address and birthdate.
i dont really care about the credit limit being low, but i was more worried about the interest rate. so i'm happy i got the lowest possible.

My TU FICO is 820 and Experian is 850...and with a 7% available credit usage. Listed over $98k income...can't figure out how the credit limits and interest rates are applied.

 

[newellj]

I have a Simmons first bank card that is 5.5% all of the time. It would be good in an emergency.

I have a credit union credit card that has a fixed rate of 7.9%.

Wow. I guess the credit union card doesn't shock me. Is the Simmons card a Visa or MasterCard? (I assume so but thought I'd ask.)

 

[kainzd5]

Just worked for me today through the link that was posted in this thread earlier. Thank you whoever posted it!

Really a waste of a credit application since I’ll probably only use it once or twice a year, and usually focus on getting cards with useful signup bonuses for use on flights/hotels, but what can I say I still have some bit of Mac fanboy left in me.

No email invite ever received. Approved!

edited: I am disappointed how the card just shows as plain white in the wallet - I thought it would be all rainbow shiny like in the application photo.

It's white until you make a purchase. It will change colors as you make purchases in categories that correspond to the color Apple has assigned.

 

[newellj]

Does anybody have a clue how to add my new Apple Card as the default payment for iTunes? My iTunes Apple ID is not the same as my Apple Card ID, so I tried to add it on my iMac as a new Card, but it was not shown as an option. I just got approved today, so I'm trying stuff out and the first thing I tried to add didn't work.

I went to settings, iTunes and App Store, click on your iTunes email, “View Apple ID” and changed payment there.

I have a situation like Techiegirl. My me.com address is my Apple ID, but back in the earliest days of the click wheel iPods (when my adult boys were young kids) we set up a single iTunes account that the family still uses under my wife's gmail email. In my case, I *didn't* want to change the iTunes ID payment method. I wanted to change my AppleID/me.com payment method, and was able to log into that account via settings on my iPhone and change the existing Mastercard to the new Apple/GS Mastercard. (FWIW, the only thing that's billed there is the monthly AC on my watch.)

I also logged in to my Citizens iPhone Upgrade Plan loan and changed the payment method to the new Apple Card. Neither of those really matter but (1) there seemed to be some tidiness in putting all the Apples in one basket (haha) and (2) those two numbers are already set up in Quicken so the fact that the Apple Card billing info can't be downloaded or exported to Quicken (grrrr) won't be a problem.

 

[cannono]

Just worked for me today through the link that was posted in this thread earlier. Thank you whoever posted it!

Really a waste of a credit application since I’ll probably only use it once or twice a year, and usually focus on getting cards with useful signup bonuses for use on flights/hotels, but what can I say I still have some bit of Mac fanboy left in me.

No email invite ever received. Approved!

edited: I am disappointed how the card just shows as plain white in the wallet - I thought it would be all rainbow shiny like in the application photo.

The colors come as you make purchases - it becomes colorful based uniquely on what categories you’ve spent money in

 

[M-Life]

My TU FICO is 820 and Experian is 850...and with a 7% available credit usage. Listed over $98k income...can't figure out how the credit limits and interest rates are applied.

I'm having problems understanding this as well. I have six inquiries set to fall off this week due to purchase of a car last year. I was thinking about waiting until those fell off, but I got too antsy once I got the invite yesterday. I think it may have lowered my limit to the 7.5k I got, because my other stats are in line with yours exactly.

 

[cloughenough]

It's white until you make a purchase. It will change colors as you make purchases in categories that correspond to the color Apple has assigned.

thanks , and thank you also cannono - okay apple is so sneaky, now I obviously have to make purchases with it until I get the exact shiny rainbow pattern I want.....so this is how they get you to use the card....

 

[HobbesInVA]

thanks , and thank you also cannono - okay apple is so sneaky, now I obviously have to make purchases with it until I get the exact shiny rainbow pattern I want.....so this is how they get you to use the card....

The card will turned back to a white color all purchases are paid off and there is no balance on the card.

 

[clcnyc]

What's that link to let you apply? I'm getting impatient for the email that never comes lol

 

[mattopotamus]

Wow. I guess the credit union card doesn't shock me. Is the Simmons card a Visa or MasterCard? (I assume so but thought I'd ask.)

A Visa. Apparently they are very difficult to get, so I was super happy when I was approved. There are zero rewards though.

 

[eXoenDo]

What's that link to let you apply? I'm getting impatient for the email that never comes lol

It's hit or miss for people it seems - https://wallet.apple.com/apple-card/setup/feature/ccs? - if you get an error "Apple Card Unavailable" (which i'm still getting), it means you aren't able to apply yet.

 

[PickUrPoison]

Idk about that. I got denied for “recent past due” was on the phone with TransUnion this morning and said I have 0 late payments or delinquency on my credit report. The lady on the phone at Goldman Sachs said everything is automated through the wallet app so sending in your TransUnion report to Goldman Sachs isn’t even an option. The lady at Goldman Sachs said you can’t even talk to someone on the phone and apply with a human being.

The reasons TransUnion lists for why your score isn’t higher are sometimes a little random/arbitrary. But those aren’t the reasons you were denied; you were denied because your FICO score is too low.

In your denial letter, both your score and typically three or four issues that negatively impacted it are listed.

Get your hardcopy reports and make sure there’s no incorrect info. The actual derogatory info that is responsible for your low score will be on that report. Your FICO score is calculated based only on the information on that report. Get a copy—directly from TransUnion, not from some credit monitoring service—and you’ll be able to see what the issues are. If there is wrong data, get it deleted and re-apply.

 

[cloughenough]

The card will turned back to a white color all purchases are paid off and there is no balance on the card.

of course, now it makes sense, it’s even more ingenious, so then you’d have to keep spending and paying off the card eternally if you want to keep the pretty rainbow. I am serious when I say that is probably the only thing that is going to get me to use this card.

also, I apparently won’t even be able to put a high spec upcoming new Mac Pro (~ $35k) on this card with only a $30k limit, was hoping for $40k limit.

 

[class77]

I have a situation like Techiegirl. My me.com address is my Apple ID, but back in the earliest days of the click wheel iPods (when my adult boys were young kids) we set up a single iTunes account that the family still uses under my wife's gmail email. In my case, I *didn't* want to change the iTunes ID payment method. I wanted to change my AppleID/me.com payment method, and was able to log into that account via settings on my iPhone and change the existing Mastercard to the new Apple/GS Mastercard. (FWIW, the only thing that's billed there is the monthly AC on my watch.)

I also logged in to my Citizens iPhone Upgrade Plan loan and changed the payment method to the new Apple Card. Neither of those really matter but (1) there seemed to be some tidiness in putting all the Apples in one basket (haha) and (2) those two numbers are already set up in Quicken so the fact that the Apple Card billing info can't be downloaded or exported to Quicken (grrrr) won't be a problem.

What numbers are you using for the Apple Card in iTunes? Are you using the Card Information section of the Apple Card? I somewhat naively thought there would be an "Apple Card" icon to click on to make it the default since the numbers can be changed upon request

 

[techiegirl]

What numbers are you using for the Apple Card in iTunes? Are you using the Card Information section of the Apple Card? I somewhat naively thought there would be an "Apple Card" icon to click on to make it the default since the numbers can be changed upon request

I just clicked Apple Card from my phone.

 

[PickUrPoison]

I'm having problems understanding this as well. I have six inquiries set to fall off this week due to purchase of a car last year. I was thinking about waiting until those fell off, but I got too antsy once I got the invite yesterday. I think it may have lowered my limit to the 7.5k I got, because my other stats are in line with yours exactly.

If the inquiries caused your score to be lower, it’s possible you would have gotten a higher limit if you had waited. But automated underwriting typically puts a lot of weight on the limits you have on your existing accounts. Is your Apple Card limit in line with your other cards?

 

[M-Life]

If the inquiries caused your score to be lower, it’s possible you would have gotten a higher limit if you had waited. But automated underwriting typically puts a lot of weight on the limits you have on your existing accounts. Is your Apple Card limit in line with your other cards?

Yes, right in line with everything else really. I guess that makes sense.

 

[JCoe13]

A couple touches I've noticed with the card:
1. When you pay off the card, the color returns to white (Not sure if this is good or bad yet, since I'd like to see my overall spending habits reflected and not just what I owe).

2. You get a push notification indicating your weekly spending and what you earned in cash back like a weekly roundup.

 

[HobbesInVA]

A couple touches I've noticed with the card:
1. When you pay off the card, the color returns to white (Not sure if this is good or bad yet, since I'd like to see my overall spending habits reflected and not just what I owe).

2. You get a push notification indicating your weekly spending and what you earned in cash back like a weekly roundup.

I wasn't pleased to see the card returned to white when the balance is paid off. I rather see the spending metrics over time myself.

 

[cmaier]

I didn't either, but when I clicked the + to add a card in the Wallet app it went through - give that a try.

Nope, no good.

 

[phantom5251]

Has anyone been asked to put in their full SSN yet for ID purposes?

 

[PTVMan]

Has anyone been asked to put in their full SSN yet for ID purposes?

Only last 4 digits.

 

[PickUrPoison]

Yes, right in line with everything else really. I guess that makes sense.

No one wants to be the first one to give anyone a $30,000 limit

There are a couple of strategies for getting higher limits.

First, ask for credit limit increases on your existing cards, especially the card you use the most and/or have had the longest. Sometimes you can do it right on the website, but if you’ve got clean reports you’ll often do better speaking directly with an underwriter.

Say you’ve got a Chase $7,500 that you give a majority of your usage. Call and ask the frontline rep who you should speak with to discuss a credit limit increase, if that’s not them. If you’re planning on traveling, for instance, tell them that, and that you’d like to inquire about an increase. If they ask you what you’re thinking, say 15k. If you have good history, they’ll either give it to you or counter, maybe 12.5k. Take it.

Don’t go crazy, you don’t want more than a couple inquiries per year per report (Experian, TransUnion and Equifax... spread them out). If you go overboard, you’ll get dinged for “credit-seeking behavior”, which is a red flag for increased probability of future default. You’ll also lower your average age of accounts, so your score might take a small hit from that but it’s not typically too bad.

Another good way of getting higher limits is to combine two cards into one. So if you’ve got two Citibank accounts, call and ask them to combine them. In general, you want to keep your oldest account but even if closed, it’ll stay on your report as a positive tradeline for at least ten years. (But try to keep your oldest accounts open. You can always open a new account with the intention of combining it into an existing account.) If you’ve got a 9k limit and a 7k, when you combine them one account will close and the remaining one will have a 16k limit.

It’ll be interesting to see how the Apple Card limits develop over time; initial limits are not bad at all. Not sure how future credit limits will be handled, could be some occasional automatic increases or you might have to ask. Might be able to make a request from the Wallet app.

PS If you don’t have a couple of cards issued by credit unions, consider doing that. PenFed is a good one, good car loan rates too.

 

[rugmankc]

Just got my official Invite tonite. Although I used the link and signed up this morning.