Maybe because they know you'll never pay them interest? I don't know why credit card companies would ever want such users, but for some reason they tend to.
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Apple Details Why Some Apple Card Applicants Might Get Declined
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Full SSN and copy of ID isn’t all that unusual but using Apple product ownership as an underwriting factor is rather interesting. Seems like they’re looking for a way to tip the scales in favor of approval if someone is on the bubble.
But yeah, bugs. There’s definitely been issues with decisioning. Seems like sometimes they can’t connect to personal information databases or even credit files, resulting in erroneous denials. Typical beta issues, hopefully they’ll work out the kinks before the public release later this month.
I was declined. Reason: You have recently been past due.
According to my TransUnion report on Credit Karma and Credit Sesame I don’t have any delinquency. I do have delinquent comments on my full report from when I was going through a divorce but I haven’t had any past dues in the past 6.5 years.
Also the score they quoted was 20 points less than every other score I’ve obtained recently.
According to my TransUnion report on Credit Karma and Credit Sesame I don’t have any delinquency. I do have delinquent comments on my full report from when I was going through a divorce but I haven’t had any past dues in the past 6.5 years.
Also the score they quoted was 20 points less than every other score I’ve obtained recently.
Yeah the system still seems real buggy. Reps at GS don’t seem that much prepared either. They said supposedly if you get denied you’ll get a letter in the mail explaining why. If that’s the case there will probably be a lot of mail going out in the next couple weeks lol. Just so odd with people with stellar scores etc getting denied and others let in. Will just be curious to see how things go when/if it becomes available on a wide scale. They probably should have stuck with a bank that was already well versed in this area.
Same reason I was declined. No idea what their criteria is. Been approved over the last two years for a Discover card, Capital one and an amazon store card (about 5300$ credit limit total) and an Auto lease in Feb. Score according to them was 690 and I make 90k a year. Tried again and got declined for “too many recent applications”.
Definitely quite a few problems atm. Not much excuse for poorly trained reps. Hopefully they’ll get their act together before it goes wide... the clock’s ticking.
That was exactly what I got! Between the lack of an email from Tuesday about the ID and oddball reasons for a decline, may just wait at this point till public rollout.
So that was from 3 days ago. There was an interesting line in the denial email: "If you still want to apply for the Apple Card please re-attempt your application". So I tried again today. Now approved, 12.99% APR, $40K credit limit.
I think their 'please reapply" line is dog whistle for "our system is all f**d up and we're working on it so please try again."
Doesn't instill confidence in GS.
Which part? The “past due” or the “too many recent applications”? Im going to try to call Transunion to see whats “past due” and clear that up if i can. If nothing Ill just forget it.
I’ll be interested to see what response you get to this. I’ve gotten credit limit increases and an auto loan recently and no missed payments, not the best credit in the world but no where near the worst either.
Did you know that if you earn $33K/year, you are in the top ONE percent of wage earners alive today?
Applied this past Saturday, got declined, now waiting for the letter to arrive that'll explain why. Oddly enough just a week ago the credit line on my Capital One CC was increased so my credit history and score (which BTW is in the low-600s) can't be extremely bad; side note--Capital One does not do a hard pull against your credit report whenever you request a credit line increase or when they choose to increase your credit line even if you don't request it.
I tried a couple of times last week and got declined. FICO 830. I tried it one more time that same day and actually stated my income slightly lower (figuring they didn’t like the number I threw at them) and got approved. As with anything Apple, all the hype results in initial system glitches.
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I wonder if the declines resulting from a system glitch (there seem to be quite a few) will even result in a letter being generated.
Weird...after initially being declined on my first early invite, i tried again when it went into wide release and it was activated immediately. I wonder if the first decline was just a glitch?
Another weird thing...it processed my monthly family Apple Music fee today, and the amount charged was $12.38 rather than the usual $14.99. I wonder why that is? Another weird thing...I didn't set my new Apple Card as the default so I wonder why that was charged, is it the automatic default for Apple services?
Another weird thing...it processed my monthly family Apple Music fee today, and the amount charged was $12.38 rather than the usual $14.99. I wonder why that is? Another weird thing...I didn't set my new Apple Card as the default so I wonder why that was charged, is it the automatic default for Apple services?
He’s not the only one. I got turned down - first time ever for any card or loan - and on the rejection email my score was stated as 845. There were no “reasons” - simply “information contained in your credit report”. I sit on my credit report like a mama hen - I know exactly what’s in all three of them.
I have income of $100k+ and credit utilization of 7.3% Zero late or missed payments ever, no derogatory anything. I carry Amex Platinum and Chase Reserve. I simply wanted to support Apple; I’ve used them exclusively since the first Mac in 1982 (and yeah the card is cool). I now have a bad taste in my mouth.
I’m just dismissing it as someone somewhere (or some algorithm) woke up on the wrong side of the database, but it’s not a great start.
There’s been some reports of people getting denials due to Apple/GS not being able to properly scan some Real ID’s, etc. Supposedly they’re working on a fix, but of course, no ETA. Might explain some of the random approvals and denials of folks in low 600’s getting approvals while others aren’t.
Well my credit score is 510 to 530 depending on which report they use. And I got approved today. When I first tried it said the bank denied approval then it asked if I wanted apple to send a re-evaluation based on apple stuff like products and something like that. So I hit yes to re evaluate and it approved me. Sure it was at 23.99 and a limit of 250 but it’s a start. I never had a credit card before and have a few small debts 4 or 5 years old that I have against me on reporting. So there’s some hope for low scores but it’s probably because I have all the new top apple products and spend a lot on apple stuff but who knows.
Unfortunately in my case it wasn't due to a system glitch--turns out the denial email landed in my Junk email folder; reason given is "high outstanding credit card balances" (yes I know, bad on my part--no need for anyone to crucify me any further). I'd be curious as to what GS' criteria is for what they would consider a "high outstanding CC balance"; e.g., is $20K combined CC balance against a combined $200K credit limit considered a high balance (IOW, 10% credit line utilization)? Or $20K in CC balances against a $300K income?
It's been confirmed that some customers have been wrongly rejected. Try again soon.
I applied this evening and was denied. It gave the excuse as "monthly debt obligations are too high given your income". I've never missed a payment for anything in the 25 years I've had CCs and my credit score is currently at 835. It's funny I get approved for any other card I apply for but I'm not good enough for this one.