Apple launches Path to Apple Card
Apple launches a path to the Apple Card program – designed to focus on helping individuals with previously declined applications qualify for the apple card. This four-month program sends notifications to the user’s phone with suggestions once a month on how they can better improve their credit to reapply for the Apple Card.
It’s 100% Free
The program is available at absolutely no cost to you. Apple created this program to help its users gain accurate recommendations based on Goldman Sachs criteria for accepting credit card applicants. “FICO scores may be the industry’s standard for credit decisions, but they don’t always tell the whole story of your financial fitness. To get a better picture of your creditworthiness, Goldman Sachs draws from a wide variety of data,” states Apple. Here are some of the criteria they list:
- TransUnion bureau data, which gives a record of your credit performance on past and current debt obligations.
- The disposable income left after your monthly debt obligations.
- Where applicable, your available payment history with utilities such as telecom, gas, and electricity.
- Your history of paying down debts based on your past credit activities.
- The annual income you report on your Apple Card application.
While Apple does not go off of your credit report as the major reason for accepting or declining an application, apple still uses your credit report to determine creditworthiness and credibility.
The program lasts four months
“Declined Apple Card applicants may begin seeing notifications on their device later today that offer them a path to the Apple Card program. It’s an opt-in program that can run for up to four months. It leverages the information that Goldman Sachs used to determine their creditworthiness to outline why they were declined and to help them improve the specific financial markers that would make them more likely to get approved next time,” explains Matthew Panzarino with Tech Crunch. “Once a user opts-in on their device, they get a once-a-month update on their progress on specific tasks that are personalized to their rating.” This program provides information and tips like:
- Resolving past due balances.
- Making payments to secured and unsecured debt accounts on time.
- Lowering credit card and personal loan debt.
Users who complete the program are then eligible to reapply for the apple card. If you have questions about COVID-19 or symptoms of COVID-19 visit the CDC’s website for more information on how to protect yourself, or how and where to get tested. If you are experiencing symptoms be sure to follow the CDC Guidelines and self-isolate.