Path To Apple Card Program Gives Declined Applicants A Second Chance Bankrate Caret RightMain Menu Mortgage Mortgages Financing a home purchase Refinancing your existing loan Finding the right lender Additional Resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Bank Banking Compare Accounts Use calculators Get advice Bank reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Credit Card Credit cards Compare by category Compare by credit needed Compare by issuer Get advice Looking for the perfect credit card? Narrow your search with CardMatch Caret RightMain Menu Loan Loans Personal Loans Student Loans Auto Loans Loan calculators Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Invest Investing Best of Brokerages and robo-advisors Learn the basics Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Home Equity Home equity Get the best rates Lender reviews Use calculators Knowledge base Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Loan Home Improvement Real estate Selling a home Buying a home Finding the right agent Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Insurance Insurance Car insurance Homeowners insurance Other insurance Company reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Retirement Retirement Retirement plans & accounts Learn the basics Retirement calculators Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Advertiser Disclosure
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. SHARE: Courtesy of Apple June 30, 2020 Claire Dickey is a product editor for Bankrate, and . Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications industry as well as a hybrid marketing and content writer. Bankrate logo The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Bankrate logo The Bankrate promise
At Bankrate, we have a mission to demystify the credit cards industry — regardless or where you are in your journey — and make it one you can navigate with confidence. Our team is full of a diverse range of experts from credit card pros to data analysts and, most importantly, people who shop for credit cards just like you. With this combination of expertise and perspectives, we keep close tabs on the credit card industry year-round to: Meet you wherever you are in your credit card journey to guide your information search and help you understand your options. Consistently provide up-to-date, reliable market information so you're well-equipped to make confident decisions. Reduce industry jargon so you get the clearest form of information possible, so you can make the right decision for you. At Bankrate, we focus on the points consumers care about most: rewards, welcome offers and bonuses, APR, and overall customer experience. Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. At each step of the way, we fact-check ourselves to prioritize accuracy so we can continue to be here for your every next. Bankrate logo Editorial integrity
Bankrate follows a strict , so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers. Editorial Independence
Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Apple and Goldman Sachs, the duo behind the innovative, no-fee , launched the Path to Apple Card program on Monday to help those who’ve previously had their receive a second chance at approval. The program offers personalized tasks to improve potential cardholders’ credit using information gathered from the denied application and provides a once-a-month progress check. “I’m impressed with how proactive Apple Card has been in terms of financial literacy, financial wellness and cultivating long-term relationships with its customers,” says Ted Rossman, industry analyst at Bankrate. “This is another example, along with things like not charging any fees, actively encouraging cardholders to pay as little interest as possible and offering the most generous in the industry.” How the Path to Apple Card program works
According to , your chances of receiving a notification to opt into the program depends on whether Goldman Sachs has identified you as being able to “meet the requirements for approval” after program completion. Through this program, which can last up to four months, Apple and Goldman Sachs work with applicants to understand their credit denial and improve their future chances for Apple Card approval. A few personalized tasks that may be assigned include , reducing debt and establishing a history of on-time bill payments. Once the program is completed, participants have a 14-day window to reapply for the Apple Card, should they choose. Why the Path to Apple program is useful
In most cases, the primary method for determining which factors led to your credit denial is through an adverse action notice, which really only details the credit reporting agency that supplied your report. Through the Path to Apple Card program, the veil of credit denial is lifted by offering educational information and action items to increase your chances of approval the second time around. Completing a second application — are there any consequences
When you apply for the Apple Card, in particular, a — rather than a hard pull — is completed. Only after you accept the offer is a hard credit check performed. With this strategy, you’re saved from an unnecessary ding to your credit score, which may be top of mind as you prepare for a second application. The future of the Apple Card
Apple and Goldman Sachs are intentionally focusing on credit-builders and re-builders, says Ted Rossman, industry analyst at Bankrate. “[The] Apple Card is… available to a broader range of credit scores than most credit cards,” Rossman says. “…The rewards are okay, but where this card really shines is in areas like financial wellness and customer service.” Rossman views the introduction of tools and programs like Path to Apple Card as a jumping-off point for future products and services from Apple and Goldman Sachs. “I think Apple and its partner Goldman Sachs view Apple Card as the start of something more,” Rossman says. “That could mean more financial services (like Goldman’s Marcus savings and personal loan products), more loyalty to Apple (which could extend to other services and hardware) and possibly even a future where more transactions take place within the Apple ecosystem (buying things with Apple Card, using the rewards for peer-to-peer payments, etc.).” The bottom line
If you’ve previously applied and been denied for the Apple Card, you can learn more about the Path to Apple Card program, . First-time Apple Card applicants can read about the application process on Apple’s new . It’s important to note that if you’re interested in applying for the Apple Card for the first time, you must have an iPhone. SHARE: Claire Dickey is a product editor for Bankrate, and . Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications industry as well as a hybrid marketing and content writer. Related Articles