What Credit Score Is Needed for the Apple Card?


If you’re an Apple enthusiast looking to finance your next purchase, you might be considering the Apple Card. Before you apply, it’s essential to understand the credit score requirement and other factors that can influence your approval odds.

In this article, we’ll explore the credit score needed for the Apple Card, what else you need to be approved, and how to increase your chances of getting approved.

What the Apple Card Offers

The Apple Card, introduced in 2019, is Apple’s venture into the credit card domain, combining design with transparency. Besides its digital functionalities, it offers a minimalist titanium card for traditional transactions. Users can easily track their spending habits through the Apple Wallet app.

The card has no fees and provides daily cash back: 3% for Apple purchases, 2% via Apple Pay purchase, and 1% with the titanium card. All transactions are secured with Face ID or Touch ID, and users can directly text for support using the Messages app. The Apple Card embodies contemporary financial convenience and security.

Minimum Credit Score for Apple Card

The Apple Card, issued in partnership with Goldman Sachs, generally requires a minimum credit score of 640. However, some applicants have reported being approved with scores as low as 600. This falls within the “fair” to “good” credit range, which means you’ll need a reasonably decent credit history to be considered. Keep in mind that a higher credit score does not guarantee approval, as other factors also come into play.

Other Factors Influencing Apple Card Approval

Besides your credit score, Apple and Goldman Sachs may consider numerous other factors. Here’s a closer look at some of them:

  • Income: Your ability to repay is one of the most critical factors for lenders. A consistent and higher income can signify a greater capacity to manage credit. Goldman Sachs will want to ensure you have a dependable source of income to service the debt.
  • Debt-to-income ratio: This metric provides an insight into how much of your income goes towards servicing your debts. A lower ratio indicates that a larger portion of your earnings is available to handle any new debt.
  • Employment history: Stable employment can be a positive indicator. Regular job changes or gaps in employment can sometimes be seen as a red flag.
  • Length of credit history: The duration of your credit history can influence your approval odds. Longer credit histories can provide a more accurate representation of your borrowing habits.
  • Recent credit activities: If you’ve recently opened several new credit accounts, it might be perceived as a sign of financial distress, possibly reducing your chances of credit approval.
  • Types of credit: A diverse mix of credit types – such as credit cards, installment loans, and retail accounts – can demonstrate your ability to manage various forms of credit responsibly.
  • Public records: Items such as bankruptcies, tax liens, or legal judgments against you can significantly diminish your chances of approval.
  • Recent debt payments: Any recent late payments, defaults, or other negative marks can deter approval. Consistent timely payments, on the other hand, bolster your application.

Requirements for the Apple Card

Securing an Apple Card involves meeting specific criteria to ensure user authenticity and creditworthiness:

  1. Age criteria: Applicants should be 18 years old or more, though this might vary based on location.
  2. Residency: Only U.S. citizens or lawful U.S. residents are eligible. They must have a U.S. residential address, excluding P.O. Boxes, though military addresses are accepted.
  3. Apple ID security: Two-factor authentication must be enabled for the user’s Apple ID.
  4. iCloud access: Applicants should be signed into iCloud using their Apple ID.
  5. Credit report: Those with a freeze on their credit report must temporarily lift it before applying. Guidance on lifting a credit freeze with TransUnion is available.
  6. Identity verification: Some users might be prompted to validate their identity using a Driver’s License or a State-issued Photo ID.

How to Increase Your Chances of Getting Approved for the Apple Card

To boost your odds of approval for Apple Card, follow these steps:

  1. Know your credit scores and report: Before applying, obtain a copy of your credit report and scores from the three major credit bureaus – Experian, Equifax, and TransUnion. This will give you a clear understanding of your current credit standing and help you identify areas for improvement.
  2. Pay down debt and maintain low credit utilization: Aim for a credit utilization ratio below 30% on your existing revolving credit accounts. Paying down your outstanding balances and keeping your credit utilization low signals to issuers that you’re responsible with your credit.
  3. Establish a steady income: Lenders prefer applicants with a stable and sufficient income to meet their monthly payment obligations. Ensure that your income can comfortably cover your expenses, including any new credit card payments.
  4. Avoid applying for multiple credit products at once: Each credit application results in a hard inquiry on your credit report, which can temporarily lower your credit score. Space out your credit applications to minimize the impact on your credit score.
  5. Address negative items on your credit report: If your credit report contains late payments, collections, charge-offs, foreclosures, repossessions, or bankruptcies, consider working with a credit repair company like Credit Saint. With years of experience, they’ve successfully removed many negative items for their clients, helping them improve their credit scores. You can visit their website and fill out the form for a free credit consultation.
  6. Maintain a strong payment history: Making all of your payments on time is crucial to maintaining a good credit score. Establish a habit of paying your bills in full and on time each month to demonstrate your creditworthiness to potential lenders.

Bottom Line

Getting approved for an Apple credit card requires a fair to good credit score and a strong financial profile. By following the steps outlined above, you can improve your credit standing and increase your chances of being approved for the Apple Card.

Remember that responsible credit management is an ongoing process, so be diligent in maintaining and improving your credit health for the best possible financial outcomes.

Frequently Asked Questions

Why is my Apple Card application listed as “pending” or “in review”?

Goldman Sachs might need additional time to assess some applications or require further information for identity verification. After submitting your application, a status message will appear in the Wallet app. Any updates regarding your application will be sent to the primary email address linked with your Apple ID.

What determines my initial credit limit?

Goldman Sachs evaluates your income and the minimum payments of your current debts to gauge your repayment capability when setting your initial credit limit.

Furthermore, the process incorporates several factors used during the application’s approval or rejection phase. This includes considerations like your credit score and the extent of credit you’re currently using on your existing credit accounts.

Can I increase my credit limit on the Apple Card?

Yes, over time and with consistent, responsible use, you can request a credit limit increase. It’s essential to ensure timely payments and maintain a good credit standing.

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