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Apple’s Latest Invention: Yes, It’s a Credit Card

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1 hour ago, hegemony said:

12 points is not a statistically significant change in FICO. New accounts are "young" until the 25th month. congrats on the GSapple card!!!

I was hoping the account would never show. I do have a very large and old file, so the effect on my FICO is negligible (a couple points). About six months after a new account is opened, I'm back where I started.

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6 hours ago, direct said:

My Trans Union Fico Score dropped 12 points as a result of the Apple Card hitting my account.  It's been a while since I've had a new card show up....Does it still take about 6 months for the score to recover to back where it was before the new account hit?  I remember it was about this long when Paypal sent me a mastercard to replace my Paypal line of credit.  I was pissed about that one because it was just an account change over and they reported it as a new account after telling me it would just show as an account number change with the same aging as the credit line.

 

Mine started reporting today too. I had an 11 point drop in my TU score.  Isn't showing on EQ or EX yet.  It usually takes about 6 months for my scores to rebound after I open a new account, but in this case my Apple Card account is already 4 months old, so I'm hoping they report the correct account opening date and my scores rebound in just 2 months or so.

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I just got an alert from MyFico that a credit account was removed from my TransUnion Account.  My available credit dropped by the amount of the Apple Credit Card Credit Line.   My score went up 12 points. lol 

Apparently, the Apple Card that was supposedly reporting yesterday is not reporting today.  I suppose tomorrow, it may reappear.

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Credit Karma notified me early in the morning and got in touch with Wallethub's events. They both cited a new account for reporting to confirm the authenticity of the account. The score did not decrease and remained at 801. (Vantage Version 3.0)

 

 

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On 12/4/2019 at 4:38 PM, hegemony said:

12 points is not a statistically significant change in FICO. New accounts are "young" until the 25th month. congrats on the GSapple card!!!

thank you for the specific DP of 25 months although I have no idea how “young” reflects on Fico, that’s all part of the fun...🙂

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1 hour ago, busted2 said:

thank you for the specific DP of 25 months although I have no idea how “young” reflects on Fico, that’s all part of the fun...🙂

 

The simplified version is that FICO looks at the average age of your accounts and the age of your oldest account.  Longer = better.

 

Then there is what actual creditors think.  Creditors do not like very much to extend credit to someone without a proven track record.  Until your accounts are over two years old, they look at the accounts as "new" and you as a newbie / toddler / wet behind the ears / or similar term.  Many won't even extend you credit, but of those that will take a chance you can expect low limits and high APRs (not that APR should even matter, mind you).    

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On 12/6/2019 at 6:20 AM, hegemony said:

not reporting for me... I haven't used it since month #1 FWIW

 

Just started reporting for me.

 

Also Apple Card has gotten on the band wagon and now you can use your bank's BillPay to make electronic payments on your card.  That said, there are several different billpay providers and different banks may use different ones.  I do know that Citi's BillPay works (in fact, has always worked).  USAA, Navy, CapOne and BoA use the same BillPay provider and they now work.  

Edited by PotO

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1 hour ago, althes said:

Just put in for a cli.

Will hear back soon.


Is there a LUV button or do you have to speak with them?

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1 hour ago, hegemony said:


If Jennifer doesn't figure out third grade math and write articles that aren't simply re ... -- Ooppsss, can't use that word -- then she should just stay home and make me a sandwich.


A $0.50 increase on a $100 purchase is never going to amount to "half of the retailer's profit" on the sale.  The whiny little b1tches already further inflate prices by 2% or more to account for the costs related to interchange.  The leeches just want a free lunch.

 

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58 minutes ago, PotO said:


If Jennifer doesn't figure out third grade math and write articles that aren't simply re ... -- Ooppsss, can't use that word -- then she should just stay home and make me a sandwich.


A $0.50 increase on a $100 purchase is never going to amount to "half of the retailer's profit" on the sale.  The whiny little b1tches already further inflate prices by 2% or more to account for the costs related to interchange.  The leeches just want a free lunch.

 

I agree.  They are making this an "apple card" issue, but rewards cards have always been the go to cards in anyone's wallet who has a choice of cards.  Retailers build the fees into their markup so it's not like the consumer isn't paying for the privilege and if a customer chooses to pay cash, the retailer is that much ahead of the game.

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28 minutes ago, direct said:

I agree.  They are making this an "apple card" issue, but rewards cards have always been the go to cards in anyone's wallet who has a choice of cards.  Retailers build the fees into their markup so it's not like the consumer isn't paying for the privilege and if a customer chooses to pay cash, the retailer is that much ahead of the game.

Please!  Please!!  Please!!!  Stop trying to confuse people with facts and common sense.

 

 

 

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To add another thing Apple, lately I've been getting a lot of scam email saying my "Apple ID has been locked," that is getting around Yahoo mail's spam filter. Don't go to the link or reply to them. Mark them as spam.

 

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54 minutes ago, Burgerwars said:

To add another thing Apple, lately I've been getting a lot of scam email saying my "Apple ID has been locked," that is getting around Yahoo mail's spam filter. Don't go to the link or reply to them. Mark them as spam.

 


Got that e-mail today.  :)

 

Also got the two that confirm charges to my Apple iTunes account for $99 and for $79.  
 

It's getting to the point where I can spot these fraudsters just as easily as I can bubbleheads or Chair Force supply clerks.  

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so I bought a lot of gifts at apple in december, 8k posted and PIF and the card is still not reporting. I thought perhaps it wasn't reporting because I had not used it since month 1.

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It will probably report in the February billing cycle.  Mine still reports only to TU.  Haven't seen anything show up on EQ or EX yet.  I opened my account in August and have been using it each month.

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On 12/12/2019 at 7:58 PM, hegemony said:

The fees are paid by the consumer in the form of higher prices, and imagine how much of the store's "profit" goes to the cost of the goods they sell, wages and benefits, the store lease, insurance, utility bills, shoplifting, the cost of the Brinks truck to haul away the cash that people use, etc.

 

Those fees aren't paid by the consumer but by the merchant as part of the cost of accepting credit cards. A grocer can lose more than half its profit on a sale when someone pays with an Apple Card, or one of its elite competitors, rather than a normal card.

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