A credit check is required when signing up for the Apple Card. Approvals are done by Goldman Sachs, and Goldman Sachs uses Trans. Union for credit checks. If you have a credit freeze applied].
The request that they submit is results in either a soft or hard inquiry and gets recorded on your credit report. Apple Card is handling this a little differently than most other credit cards. The industry norm is to record a hard inquiry whether you are approved or declined for a card.
You should be asking “Do you need a credit card to get an Apple Card?”
Credit Check A credit check is required when signing up for the Apple Card. Approvals are done by Goldman Sachs, and Goldman Sachs uses Trans. Union for credit checks. If you have a credit freeze applied, you will need to unfreeze your Trans, and union credit.
Does the Apple Card affect your credit report?
Apple Card is poised to become the Apple Music of credit cards for anyone that has an i. Phone – the service people sign up for by default since it’s built into the software. While Apple Card does bring solid rewards and impressive money management tools, it will also affect your credit report when you apply for it.
A question we ran across in our research was “How does the Apple Card affect my credit score?”.
If you apply for Apple Card and your application is approved, there’s no impact to your credit score until you accept your offer. If you accept your offer, a hard inquiry is made.
A better credit score means a higher credit limit, and credit limit also increases over time. Apple in July 2020 added an Apple Card website that allows users to apply for a card, check their balances, view statements, and make Apple Card payments online.
Does the Apple Card do a hard or soft credit pull?
Apple does a soft credit pull when you apply for Apple card so you can see Apple’s offer with credit limit and APR. A hard pull happens after you hit the “accept” button. Apple wanted to make the Apple Card accessible to as many people as possible, which means Apple Card partner Goldman Sachs is approving people with a wide range of credit scores.
Our answer is that apple Card is handling this a little differently than most other credit cards. The industry norm is to record a hard inquiry whether you are approved or declined for a card. Apple and Goldman Sachs are going a different route. You will only be hit with a hard inquiry if you are approved and accept your Apple Card offer.
Why can’t I get approved for the Apple Card?
You have a high number of recent applications for credit. Goldman Sachs uses Trans. Union and other credit bureaus to evaluate your Apple Card application. If your credit score is low (for example, if your FICO9 score is lower than 600), 4 Goldman Sachs might not be able to approve your Apple Card application.