Lifting your credit freeze temporarily is free. 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.
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.
But the prescreening process will have given you a good sense of where you stand — whether the hard pull is going to be worth it. A few credit cards will even show you your specific offer, including credit limit and APR, before you accept the hard pull.
How does the Apple Card handle hard inquiries?
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.
Moreover, how does the Apple Card affect my credit score?
You see, 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.
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.
What is a hard inquiry on your credit report?
When you apply for a credit card, the card issuer usually conducts what’s known as a hard inquiry or ” hard pull” on your credit report to determine your creditworthiness. Hard inquiries can knock points off your credit scores temporarily.