Chip Lupo, Credit Card Writer
@CLoop
The Apple Card is not good for building credit from scratch because it requires at least good credit for approval. But it can help people who meet that requirement further build their credit, since it reports to the major credit bureaus on a monthly basis.
Best Way to Build Credit With the Apple Card
- Use less than 30% of your credit limit each month (ideally 1% to 10%).
- Make at least the minimum payment required by the due date every month.
- Pay off your full balance every month, if possible, in order to avoid interest.
To see whether the Apple Card is an option for you, check your credit score for free on WalletHub. If you have a score of at least 700 and a steady income, your chances of approval are decent.
If your credit score is on the lower side, check out WalletHub’s picks for the best credit cards to build credit.
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People also ask
Is the Apple Card a good first time credit card?
No, the Apple Card is not a good first-time credit card because it is only available to people with good credit or better. People who’ve never owned a credit card are unlikely to get approved unless they’ve built good credit through other means. There are plenty of good first-time credit cards on the market, though.
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You can learn more about the best first-time credit cards on WalletHub.
read full answer by Chip Lupo, Credit Card WriterIs it hard to get the Apple Card?
Yes, it is hard to get the Apple Card because it requires at least good credit for approval. Unless your credit score is 700 or higher and you have a lot of income, it will be difficult for you to get approved for the Apple Card.
In order to get the Apple Card, you will have to meet the credit score requirement, have a steady income and be at least 18 years old. You’ll also need to...
read full answer by Chip Lupo, Credit Card WriterDoes the Apple Card report to credit bureaus?
Yes, the Apple Card reports to the credit bureaus every month, typically within days after the cardholder’s billing period closes. Marcus by Goldman Sachs reports your card’s credit limit, account balance, and payment history to all three of the major credit bureaus: Experian, TransUnion, and Equifax.
Once the Apple Card reports your account information to a credit bureau, it may take a few days from when the bureau receives the info before the updates appear on...
read full answer by Chip Lupo, Credit Card WriterDid we answer your question?
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