Good Credit Is Optional With the Apple Card

Good Credit Is Optional With the Apple Card

Apple has officially rolled out its Apple Card.

iPhone users can now apply for the all-white, minimalist-in-design Apple Card.

Some Apple Cards are available already.

"From the start, Apple wanted its bank partner to create a technology platform that would approve as many of its 100 million-plus USA iPhone users as possible, within the bounds of regulations and responsible lending, according to the people".

As the financial powerhouse behind the credit card, Goldman is actually the entity responsible for approving credit applications, but according to sources with inside knowledge, it's casting a very wide net, approving applicants with credit scores that normally wouldn't qualify for such a seemingly-prestigious card.

Apple started rolling out it's much talked about credit card, the Apple Card, earlier this week.

A less-than-stellar credit score may not stop you from bagging a shiny new Apple Card. Some early customers of the Apple Card were even shocked to have their application approved because of their subprime credit scores. All Apple Card applications require to be first approved by Goldman Sachs, but Apple's reportedly wanted Goldman to approve as numerous interested customers, even if they have a low credit score.

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Neither Apple nor Goldman Sachs were available for comment at the time of publication. But most people can't get the new Apple Card just yet. "I have a lot of collections from two or three years ago when I was in a really rough spot. I figured they were going for the high-income set".

Apple has roughly 50 million U.S. Apple Pay users now. However, Apple intends to release the credit card to the general public later in the month.

But Oswald was approved with a credit limit of $750 and an interest rate of 23.99%, which he says is lower than his other credit cards.

CNN reported that hundreds of thousands of people asked to be notified when the card became available. And it's exactly what Apple co-founder and former CEO Steve Jobs would have wanted.

The bank will only provide as much credit as a person's profile suggests they can afford. If Goldman Sachs' doesn't share a similar vision then it will be cutting itself out of a segment of the American population, especially the younger generation millennial audience. So, if you have a low credit rating, you'll get a lower credit limit.

The company said a limited number of the people who had expressed interest in Apple Card would start receiving sign-up invitations on Tuesday. You might be surprised to find that Apple welcomes you with open arms.

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