I filed for bankruptcy recently and was just mailed a letter from my lawyer that my debt has been cleared. I have applied for a AppleCard but got the message that I already have another account and was declined. I do not know how to contact Goldman Sachs to find out when I will be able to obtain another Apple Card. Does anyone know how long the process will be after Bankruptcy? I have received other CC applications in the mail however I am only interested in the Apple Card. Thanks..
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Apple Card Question
- Thread starter jwolf6589
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Sorry to hear about your bankruptcy. When you're declined for a card due to bankruptcy, there isn't much you can do but try again in six months or a year as you build back your credit rating. There is an Apple Card program called Path to Apple Card, but a bankruptcy would end the participation in that program.
How your Apple Card application is evaluated - Apple Support
Learn about the key criteria used to determine whether your Apple Card application is approved or declined.
Bankruptcy can stay on your credit history for up to 10 years. It won't block all new credit for that long, but the question of "how long" is up to the lender. One factor to consider is if you had a balance discharged from a creditor, that creditor may be less inclined to look favorably on your future request - after all your bankruptcy forced them to write off whatever you balance was on that account.
I would expect your wait for a new Apple Card to be a relatively long one.
Your options right now are severely limited.
Give up any hope of an Apple Card any time soon. You need to go for either a secured card or one that has subprime rates.
You will need to demonstrate credit worthiness before any mainstream lenders take you on again.
Focus on reestablishing you credit score - you lost any ability to “choose” a credit card then moment you declared bankruptcy.
The fact you seem to want an Apple Card above all else is a sign that you still don’t take credit seriously. That is very concerning given your current fiscal position.
You don’t have the luxury - or the credit - to be even thinking about this.
Also be very very careful as to how you proceed from here: many of the offers you received may not be appropriate for you, yet every attempt to apply is potentially a ding on your probably already ruinous credit score.
The more you try, the worse it will get.
If you have a bank account ask them to see if they have any secured cards they can offer you.
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Thanks. Yeah it was a hope but its looking like I wont be able to get any new Credit Cards for the moment.
Why would you even think it is possible to get a credit card right after a bankruptcy? You have a decade long wait until that is even possible. Lenders are not interested in people who cannot pay their debts.
Apple/GS seems to be VERY picky about the Apple Card approvals.If you belong to a credit union, I’d ask them for any credit card recommendations.
I just signed up for the Apple Card, mostly since I plan on replacing both my wife and my iPhones this year and wanted the cash back. And may as well get cash back on my monthly iCloud storage. But I was very surprised that I only got a $2k credit limit. Not even enough for two Pro iPhones. My only other card is $19k limit.
I had to rebuild my credit some years ago and started with a secured credit card. If you have a few hundred bucks to spare, I would recommend going this route. I was able to bring my credit score up into the mid 600s in a very short period of time and get unsecured credit within a year or so. Within a couple of years my score was knocking on 800's door.
(I'll admit that I didn't have a bankruptcy hanging over my head so I don't know how that would effect things for you. I simply did not use credit for years and by the time I got back into it, my credit was essentially a blank page with all negatives gone.)
Capital One has a secured card program and after about a year of on time payments, they send your deposit back to you and it becomes a regular, unsecured card.
I was not that clear in my OP. But GS declined me not because of my bankruptcy but because they claim I already have another account which should be cleared sometime in the future.
Color me a shade of confuzzeled here: IIRC Goldman Sachs have but one Credi Card they offer - the Apple Card.
So, did you used to have an Apple Card through Goldman Sachs?
It's wild all the stories you read about who is approved and who isn't. Most card sites say you only have to have a "fair" score to get it, but I've seen people getting denied with stellar scores, high incomes, etc. It truly is a non-traditional card in that the approval process (and CLs) seems to be unpredictable for people.
As someone who made mistakes with credit in her past what I would recommend is getting a simple store card (any store) to help build your credit back up. Keep a balance but don’t go over 20% of the card’s limit. Pay it off every month on time. It will take years to show lenders that you are creditworthy enough for a regular card. Credit Karma is a good way of keeping track of your credit rating but be careful with those cards they recommend, the apr’s can be brutal. Some of them are total crimes, giving $300 in credit but charging $100 a year to have the card.
I had been trying for quite a while to get an Apple Card and I was turned down by GS a few times. Yesterday just for a lark I thought I’d try again. I do have student loans and I think that’s why GS turned me down flat so many times regardless of the fact that my income easily outpaces my debt. The student loans are my only debt and I am current with them.
So when I tried it again yesterday it actually worked and I was shocked. It’s only $2,500 but it’s something and seeing as I’m thinking of buying the iPhone 12 to replace my Max when it finally lands the cash back program for Apple products is pretty good.
BTW: don’t they usually close credit cards when a bankruptcy judgement is made?
I had been trying for quite a while to get an Apple Card and I was turned down by GS a few times. Yesterday just for a lark I thought I’d try again. I do have student loans and I think that’s why GS turned me down flat so many times regardless of the fact that my income easily outpaces my debt. The student loans are my only debt and I am current with them.
So when I tried it again yesterday it actually worked and I was shocked. It’s only $2,500 but it’s something and seeing as I’m thinking of buying the iPhone 12 to replace my Max when it finally lands the cash back program for Apple products is pretty good.
BTW: don’t they usually close credit cards when a bankruptcy judgement is made?
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CK approval chances are garbage too. Applied for one with good terms that said Excellent but got denied. I just like them to see my report and to watch score changes.
I don't understand their approval process either. They were putting a raason of severe delinquency, but I haven't been late on anything in years.
And I thought the same thing about the bankruptcy. You would think any creditor affected would close the account
I don't understand their approval process either. They were putting a raason of severe delinquency, but I haven't been late on anything in years.
And I thought the same thing about the bankruptcy. You would think any creditor affected would close the account
Same experience here on the approvals. My wife got accepted, but I didn't. Based on what I know about our scores and history, I was surprised. (I was happy for my wife, don't get me wrong) but I had decades of good credit, on time payments, some CCs with $15k+... it made no sense why I was denied.
Well, I kept trying every few months because why not - the iPhone made it easy to do so. Eventually, I was accepted. <shrug> lol.
Well, I kept trying every few months because why not - the iPhone made it easy to do so. Eventually, I was accepted. <shrug> lol.
I applied and was approved earlier today! $3000.00 limit. Is that good? Lol
Here is what concerns me a little. They hit me with their highest APR 21.99%. Has anyone had any experience requesting a reduction in their APR after showing good payment history? or maybe your credit score has risen and GS reevaluated it? It’s probably unlikely so just asking.
At the end of the day I don’t ever foresee using this card for regular purchases anyway. I’ll just be taking advantage of the 0% interest on Apple products. I have a credit card through my credit union which has an 11.90% APR so that would be my go to if I use credit.
Here is what concerns me a little. They hit me with their highest APR 21.99%. Has anyone had any experience requesting a reduction in their APR after showing good payment history? or maybe your credit score has risen and GS reevaluated it? It’s probably unlikely so just asking.
At the end of the day I don’t ever foresee using this card for regular purchases anyway. I’ll just be taking advantage of the 0% interest on Apple products. I have a credit card through my credit union which has an 11.90% APR so that would be my go to if I use credit.
Your APR does not matter if you never carry a balance. The WORST thing you can ever do with a credit card is carry a balance. Even 15% APR is extortion. Never do it.
20 years going with never carrying a balance. Build wealth, not debt.
Definitely. I just wanna use it for showing a positive payment history on my credit. And I’ll do that by using it purposely to make monthly installment payments on a 12 pro max. I have a separate checking account specifically for this purchase. That account has the full amount of the phone.