The credit score you need to get an Apple Card for the new iPhone 14


What Credit Score You Need to Get an Apple Card

Anyone over the age of 18 can apply from the wallet app on their iPhone.

Goldman Sachs, the bank behind the Apple Card, uses information from credit bureaus to assess each application, including your credit score and your credit report, which shows your current debts. He also considers the the income you declare on your application.

You could be denied if you’ve recently filed for bankruptcy or are behind on your debts or if your loan repayments are more than 50% of your total income, according to the company.

A credit score below 600 could also prevent you from being approved, the company said. However, that’s well below the national average, which currently stands at 716. In fact, nearly half of Americans have a credit score of 750 or higher — a rating that lenders consider very good. Anything below 600 is considered fair to poor.

Because the Apple Card is so widely available to most, it’s “a good starting option,” said Ted Rossman, senior industry analyst at, especially for someone new to the field of credit.

If your Apple Card application was declinedthere’s even a Path to Apple Card program that includes steps to improve your financial situation and reapply.

Generally, the best way to boost your credit score is to pay your bills on time and reduce your credit card balance, Rossman said. Common advice is to keep revolving debt below 30% of your available credit to limit the impact of increased debt on your credit score.

What the Apple Card Offers on Interest Rates, Rewards

The Apple Card has a variable annual percentage rate of 13.24% to 24.24%, depending on your creditworthiness, and there are no annual fees, foreign transaction fees, or late payment fees. payment.

Overall, credit card interest rates have trended higher and are now 18.17%, on average, according to

In addition to 3% back on Apple products, cardholders can also get 3% on purchases at Uber stations and UberEats, Panera Bread, Walgreens, Ace Hardware, T-Mobile, Nike and Exxon and Mobil or 2 % cash back on Apple Pay purchases and 1% cash back on everything else.

“If you want to keep it simple, the Apple Card would be a good option,” Rossman said.

For comparison, a generic cashback card such as the Citi Dual Charge Card can earn you 2% on all plans and comes with a 0% introductory rate for 18 months. After that, the APR variable goes from 16.24% to 26.24%, depending on your creditworthiness. There is also no annual fee for the Citi card, but there are other fees, for overseas transactions, cash advances and balance transfers.

Although many customers had good experiences with the Apple Card, Goldman was dogged by an influx of billing disputes, known in the industry as chargebackswhich prompted a recent investigation by the Consumer Financial Protection Bureau into these issues.

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