What to do if you're not approved for Apple Card

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Apple Card is set to release this summer and there is a good chance we're going to at least get some more details about it next week at WWDC, so everyone is starting to gear up to get ready to apply for Apple Card when it is officially released. People are getting themselves prepared so they have the best chance of getting approved as well. But, sometimes it just doesn't work out the way we thought it was going to.

So, you've gotten the email from Apple saying that Apple Card is officially released and welcomes you to apply for it. You rush into the Wallet app to start your application because you want to be one of the first people in the world to sport that beautiful titanium card and show it off to all of your friends. But, something else happens when you submit your application. You're declined. All of that excitement and anticipation is now replaced with shame, disappointment, and worry. Why didn't I get approved? What can I do to get approved next time I apply? Well, there is plenty to do and a declined credit card application, Apple or not, is a great place to start doing the work to figure it out.

Why your application was declined

There could be any number of reasons why your Apple Card application may have been declined. Applications are approved or denied by Apple's financial partner, Goldman Sachs, and that institution may reject your application for the following reasons:

• You're currently past due or have recently been past due on a debt obligation
• Your checking account was closed by a bank
• You have two or more non-medical debt obligations that are recently past due
• A tax lien has been placed against your assets
• A judgement was passed against you as the result of litigation
• Your property has recently been repossessed
• You don't have sufficient disposable income after you pay your existing debts
• Your debts represent a high percentage of your monthly income
• You have fully used all of your available credit card lines within the last three months and have recently opened a significant number of new credit accounts
• If you frequently apply for credit cards or loans
• If your credit score is low

Additionally, if you've previously frozen your credit report with TransUnion, the bureau that Goldman Sachs uses to evaluate your credit score, you will need to unfreeze it before you apply for the Apple Card. If you need to unfreeze your report, you can do so here

What to do if your application was denied

Fortunately, if your application was denied, there are things you can try to do to make your next application successful. If your application is declined, you'll receive an email with details explaining why.

• First, get a copy of your credit report from the credit bureau that Goldman Sachs used if that information contributed to your application being rejected. The email you receive will have instructions for doing so
• Check that the information that you provided on your application was correct, including your name, date of birth, and Social Security number
• If you had to verify your ID with a driver's license or other official identification, make sure there's nothing between your ID and the camera that could obscure information, make sure your last name matches the one on your application, and make sure your ID hasn't expired

Apple notes that your credit score won't be affected if your application is declined. The company also warns that you might be denied again if you choose to apply for the Apple Card a second time.

If your application is rejected for one of the previously-stated reasons, there's not a lot that Apple or Goldman Sachs can do for you. In some instances, such as if you're behind on your current debts, you can just wait to apply until after you've paid those debts off. This could even have the benefit of helping improve your credit score.

But other rejection factors, like having a court judgement rendered against you, or having a recent bankruptcy filing, those are more difficult to overcome.

Closing thoughts

Don't be discouraged by a declined application. It can be a great moment to better understand and take charge of your finances. Learn where you stand, figure out what will move you forward, and start today. The titanium card awaits!