6502

MplsP said:

Echo7Sierra said:

MplsP said:

dysamoria said:

I presume they’re not taking people with bankruptcy on their credit history...

If only it wasn’t Goldman Sachs... or Wells Fargo... or... etc.

Sigh.

Credit card companies extend credit to the users and part of that is accepting some risk that the funds won't be repaid. There are many reasons for bankruptcy, but ultimately it means the consumer got into a situation where they could not cover their obligations and legitimately affects your credit score. 

If you have bad credit, the best thing you can do is be responsible with your spending and build it up again. It takes time, and you won't be getting great offers, especially early on, but things will improve.

Judging by what was posted in the other thread, they are being pretty picky - people with credit scores over 800 were getting a very mediocre rate of 18%. I'm curious about what someone with a score of 650 would get.

They get denied, like me. 

The Apple Card has some nice perks, but it's not the end-all, be-all of credit cards. If you have other credit cards, I wouldn't sweat it - keep them current and your credit will improve. Since one of the components of your credit score is the ratio of utilized credit to available credit, if you have high balances on your cards it can adversely affect your score as well.

If you are unable to get any cards at all, you may need to look at a secured card as a means to build your credit. 

GeorgeBMac said:

The part the analysts are missing is:  The mere fact the person has an iPhone and cell plan (assuming that they do), automatically means that they have some financial means.   So, when they give them a very low credit line, their risks are minimized.

To equate this to the subprime mortgages -- where people with rotten credit and little or no income were given huge mortgages - is a false equivalency.

StrangeDays said:

sflocal said:

These folks should be working on rebuilding their credit/financial lives instead of applying for more credit cards.

Hey do you say the same to the entire construction and commercial development industry, which is based entirely on credit? Huge swaths of corporate America is run on credit, not cash. They do the exact same thing people do. And guess what happens when they fail or file bankruptcy? Creditors lose out. But you know what happens to the actual people running those corporations? The executives? Nothing. Absolutely nothing. 

In reality it is normal citizens, non-corporate people, who suffer in lending. Corporations aren't people and as such do not experience suffering. Irresponsible executives continue to become personally wealthy.

This is the nature of the rigged economy. Corporations don't suffer failure the way small fry do.

StrangeDays said:

SpamSandwich said:

Would be delighted if Apple moved far more production to the US, even if it meant a drastic increase in the use of robot assembly.

If they don’t use humans to do the work what’s the point? A few inventory management jobs? Yawn.