Apple Launches 'Path to Apple Card' Program to Help Declined Applicants Get Approved

MacRumors

macrumors bot
Original poster
Apr 12, 2001
49,083
10,435


Apple today launched a new Apple Card program and website that are designed to help people who have their Apple Card applications declined improve their credit to qualify, reports TechCrunch.


Starting today, declined Apple Card applicants will begin seeing emails that offer the Path to Apple Card program, which is opt-in and can run for four months. It uses the information from the initial Apple Card credit application to provide people with details on why they were declined as well as suggestions on how to improve financial markers that could help them get approved next time.


Examples of suggestions include resolving past due balances, making payments to secured and unsecured debt accounts on time, and lowering credit card and personal loan debt. Apple will send out a once-a-month update on progress toward improvement.

When a customer has completed the program, Apple invites them to reapply for the Apple Card. Apple has also launched a website that has specific details on how the Goldman Sachs approval process works and how people can boost their chances of approval before applying.

As TechCrunch points out, the suggestions that Apple offers are obvious to those with knowledge of how credit works, but there are many people who do not have a strong grasp on the factors that can impact credit worthiness, and Apple's program could help these people.

When it comes to privacy, Apple knows whether a person has chosen to participate in the program, but it does not store personally identifiable information or know details about participants' financial situation. Goldman Sachs does not share the information with third parties for advertising or marketing purposes.

Article Link: Apple Launches 'Path to Apple Card' Program to Help Declined Applicants Get Approved
 

forerunnerg34

macrumors 6502
Oct 6, 2015
377
489
Ecuador
" As TechCrunch points out, the suggestions that Apple offers are obvious to those with knowledge of how credit works, but there are many people who do not have a strong grasp on the factors that can impact credit worthiness, and Apple's program could help these people."

Only if people actually change their behavior for good.
 

Freida

macrumors 68030
Oct 22, 2010
2,589
3,500
I think this should be taught at school. Most people don't have the discipline or even understanding what debt actually means so we constantly see people buying stuff on their CC because they feel its like they 'have' the money only to later see them struggling with payments etc. Its hard to resist the temptation when we have this plastic thing that can buy us anything and we face the consequences after a while. It makes us feel as those two things are not connected and often people don't learn from this and keep doing the destructive behaviour their whole life. Reducing quality of life as the struggle is a burden on their everyday life. I feel that CC was the worst financial invention. I think its safe to say that without it most people would be better off and have a better quality of life.
So yeah, this should be taught at school as a 'life skill'. Along with cooking, taxes etc.
I think most people would appreciate it :)
 

Jason2000

macrumors member
Jul 19, 2019
59
92
Planet Earth
I think this should be taught at school. Most people don't have the discipline or even understanding what debt actually means so we constantly see people buying stuff on their CC because they feel its like they 'have' the money only to later see them struggling with payments etc. Its hard to resist the temptation when we have this plastic thing that can buy us anything and we face the consequences after a while. It makes us feel as those two things are not connected and often people don't learn from this and keep doing the destructive behaviour their whole life. Reducing quality of life as the struggle is a burden on their everyday life. I feel that CC was the worst financial invention. I think its safe to say that without it most people would be better off and have a better quality of life.
So yeah, this should be taught at school as a 'life skill'. Along with cooking, taxes etc.
I think most people would appreciate it :)
I agree. It should also be taught by qualified people and not coaches than need to fill a requirement to be employed. Both my sons took personal finance in high school and neither learned anything related. The class was taught by the football coach and unless you wanted to talk sports my boys said the class was like a study hall. They literally slept or did work from other classes. My wife and I are taking up the slack and teaching them about it.
 

ruka.snow

macrumors 6502
Jun 6, 2017
481
1,250
Thats quite a nice thing to put out there. I have only been rejected once and it was from a company called V12, who subsequently let my fiancé take out finance and he has no money. Would have loved to have found out their reasoning, I am all within 20% of my limits.
 

LHMac

macrumors newbie
Jun 2, 2019
8
5
I think this should be taught at school. Most people don't have the discipline or even understanding what debt actually means so we constantly see people buying stuff on their CC because they feel its like they 'have' the money only to later see them struggling with payments etc. Its hard to resist the temptation when we have this plastic thing that can buy us anything and we face the consequences after a while. It makes us feel as those two things are not connected and often people don't learn from this and keep doing the destructive behaviour their whole life. Reducing quality of life as the struggle is a burden on their everyday life. I feel that CC was the worst financial invention. I think its safe to say that without it most people would be better off and have a better quality of life.
So yeah, this should be taught at school as a 'life skill'. Along with cooking, taxes etc.
I think most people would appreciate it :)
Absolutely! Financial ed would be more useful than lots of stuff that is taught in schools. When I was a teenager, banks kept tight control over what I could do with a [then] cash card. Good behavior led to expanded capabilities and a credit card. Banks are more eager these days, to get and keep you in debt.
 

Freida

macrumors 68030
Oct 22, 2010
2,589
3,500
To be honest, most classes are like that if the teacher doesn't care. I don't think its about qualification per say. Just as you "proved" - I think its "life qualification" that really matters. Usually being financially responsible comes from parents (as you pointed out indirectly) but these days the situation changed as we no longer have the old model and with today's society most families have both parents working their asses off to be able to provide and keep afloat. So as a consequence, most parents don't have the time they would often like to have to give or pass knowledge to their kids. Vicious circle unfortunately.
But I agree with your sentiment :)

I agree. It should also be taught by qualified people and not coaches than need to fill a requirement to be employed. Both my sons took personal finance in high school and neither learned anything related. The class was taught by the football coach and unless you wanted to talk sports my boys said the class was like a study hall. They literally slept or did work from other classes. My wife and I are taking up the slack and teaching them about it.
 

NMBob

macrumors 65816
Sep 18, 2007
1,155
877
New Mexico
I think this should be taught at school. Most people don't have the discipline or even understanding what debt actually means so we constantly see people buying stuff on their CC ...
So yeah, this should be taught at school as a 'life skill'. Along with cooking, taxes etc.
I think most people would appreciate it :)
Which school? "They" have been fighting to 'debt forgiveness' for college graduates for decades, so nothing learned there. And what is the National Debt? Nothing learned there, either, yet. :)
 

konqerror

macrumors 68020
Dec 31, 2013
2,298
3,683
I agree. It should also be taught by qualified people and not coaches than need to fill a requirement to be employed.
The fundamental problem is you're not going to get anybody competent to teach it in high school when they can get paid far more being a financial advisor/broker. Plus they don't have to deal with teens.

Same thing with computer programming and engineering classes. You got to pay professor-level salaries, and even then that's barely competitive in hot fields like AI.
 

konqerror

macrumors 68020
Dec 31, 2013
2,298
3,683
Thats up to a European bank to pickup and I imagine Apple would force them to match what US Goldman Sachs is offering. Having different promotions by country for a single product could become a mess.
They'd go broke with the same deal since European interchange rates (the fee the merchant pays to the bank) are capped by law to 1/8th that of the US, 0.3%.
 

Airforcekid

macrumors 65816
Sep 29, 2008
1,485
224
United States of America
The fundamental problem is you're not going to get anybody competent to teach it in high school when they can get paid far more being a financial advisor/broker. Plus they don't have to deal with teens.

Same thing with computer programming and engineering classes. You got to pay professor-level salaries, and even then that's barely competitive in hot fields like AI.
They could really consult in for a week or two its not that hard to learn until you get into more advanced topics that 95% of people will never need.
- - Post merged: - -

They'd go broke with the same deal since European interchange rates (the fee the merchant pays to the bank) are capped by law to 1/8th that of the US, 0.3%.
I cant really see it going there then unless they stripe it of rewards and make it as a way only to finance Apple products but whats innovative about that? The US is pretty fortunate in how we can travel and churn credit. A friend of mine in Israel was amazed I could fly to London once a year in buisness class just from eating out, gas and groceries.
 

iPhaithful

macrumors regular
May 5, 2010
213
203
I like the measures that Apple is taking to ensure that you stay on top of your balances and usage. Now, showing users what they can do to acquire the card is an even better step in my opinion. I do believe that this type of knowledge should be taught in schools but it also helps if companies were willing to offer the type of assistance that Apple is along with Goldman to at least put the information in your face.
 

clive27

macrumors newbie
Nov 7, 2014
26
68
Los Angeles, CA
Thats quite a nice thing to put out there. I have only been rejected once and it was from a company called V12, who subsequently let my fiancé take out finance and he has no money. Would have loved to have found out their reasoning, I am all within 20% of my limits.
You should check out creditkarma. It will tell you what factors are lowering your credit score. Your fiance having no money doesn't directly impact his creditworthiness. On the other hand, although 30% limit is considered good, most are looking for below 10% of the credit limit. I try to be below 3%. When I went above 10%, my score dipped below 800. My strategy was to open several credit cards (no annual fee) to increase my credit limit. It will ding my score for 2 years because hard credit check stays in my report for 2 years. After that, it will be more beneficial as time goes. % of limit, average credit age, number of hard pulls, number of credits, number of active credits all affect credit score.
 

shyam09

macrumors 68020
Oct 31, 2010
2,115
2,134
This is pretty cool. All other cards just decline you and bury you under disclosure mail.
I have a feeling the other banks will follow suit shortly. It's a pretty good marketing strategy. You have declined people sign up for their program to help you get approved for their card. Sure the program will help them get approved for other cards too, but you're sort of under the impression that it'll just be for this specific card.

I'm just curious to know why I keep getting denied. I'm guessing it's my student loans because everything else is fine (I'm currently a student so paying the loans isn't my current focus).
 
  • Like
Reactions: Deelron

SBlue1

macrumors 68000
Oct 17, 2008
1,586
1,793
As a European I was stunned when I heard that in the US people still used paper cheques and pay bills manually. We do everything with a bank account, money transfer and auto pay. We get our "paycheck" directly to the account, the bills get deducted automatically from the same account. No late fees, no forgotten payments, no fraud, no money lost in the mail. I haven't been inside a bank for 25 years, you can do everything online or by phone.
 

mthomas184

macrumors 6502
Aug 11, 2016
415
504
Pittsburgh
Mine keeps saying “you’ve been recently past due” but when I contacted TransUnion, they have no record of anything being late in years so I’m curious as to see what else could be playing a factor.
 
  • Love
Reactions: compwiz1202

Airforcekid

macrumors 65816
Sep 29, 2008
1,485
224
United States of America
As a European I was stunned when I heard that in the US people still used paper cheques and pay bills manually. We do everything with a bank account, money transfer and auto pay. We get our "paycheck" directly to the account, the bills get deducted automatically from the same account. No late fees, no forgotten payments, no fraud, no money lost in the mail. I haven't been inside a bank for 25 years, you can do everything online or by phone.
This is the same way it works for a lot of people in the US too. We still have a lot of people that believe banking is bad they request a paper check and go to a gas station to get cash paying 3-5% fee for the service. If you tell them a credit union is ok they will go back to the great depression how their grandparents lost it all etc. These are intelligent people too they hold good degrees and have high paying jobs they just dont trust the system I imagine its way worse is the lower social-economic tiers.
 

AppleMad98004

macrumors 6502
Aug 23, 2011
475
553
Cylde Hill, WA
As a European I was stunned when I heard that in the US people still used paper cheques and pay bills manually. We do everything with a bank account, money transfer and auto pay. We get our "paycheck" directly to the account, the bills get deducted automatically from the same account. No late fees, no forgotten payments, no fraud, no money lost in the mail. I haven't been inside a bank for 25 years, you can do everything online or by phone.
Exactly. I don't know why people should ever miss a payment. Just set automatic payments for the minimum due and then pay more if you can in a second payment. Then you never have a missed payment on anything. Crazy how stupid many people are.
 
  • Like
Reactions: EmotionalSnow

konqerror

macrumors 68020
Dec 31, 2013
2,298
3,683
As a European I was stunned when I heard that in the US people still used paper cheques and pay bills manually. We do everything with a bank account, money transfer and auto pay. We get our "paycheck" directly to the account
Don't believe the news.

Everybody in the US uses electronic payments for receiving their paycheck. Banks and utilities offer electronic bill pay. Mortgages are paid electronically. The US Government is banned by law from sending checks unless you're old, disabled, in a foreign country, etc.

Apple Card doesn't let you send in a check.

The majority of checks are business-to-business for relatively large amounts of money that would be uneconomical for card, but not big enough for a wire.

You most definitely can have ACH fraud. Page 10 and 33 and 41:

I haven't been inside a bank for 25 years, you can do everything online or by phone.
You don't need to go to the bank to deposit a US check. You open your smartphone app, take a picture. Businesses use check scanners. Or else stick it in the ATM, where it's instantly scanned.

The US checking system is universal. You can pay anybody with a check. That's why in 2003 it was modernized by Check 21 to allow checks to clear digitally. Essentially a check has become a digital transaction with an image file attached.

Europe had issues with checks because of differing currencies and differing national banking systems. That's why it was largely abandoned. Europe is only now transitioning to digital check clearing, I think the UK switched one or two years ago.

That's why checks in Europe and checks in the US are very different in terms of cost, time, and convenience.
 
Last edited:

Airforcekid

macrumors 65816
Sep 29, 2008
1,485
224
United States of America
I have a feeling the other banks will follow suit shortly. It's a pretty good marketing strategy. You have declined people sign up for their program to help you get approved for their card. Sure the program will help them get approved for other cards too, but you're sort of under the impression that it'll just be for this specific card.

I'm just curious to know why I keep getting denied. I'm guessing it's my student loans because everything else is fine (I'm currently a student so paying the loans isn't my current focus).
Try getting a secured card through a credit union. Having only student loans makes you high risk especially without some income and a track record of paying it back.
 
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.