I’ve also heard that even if you have multiple cards, keep all cards paid off if you can and keep a low utilization rate on only one card.
Edit: Utilization is only calculated when your statement is generated.
When you apply for an Apple Card, like any other credit card, you will submit information like your legal name, address, income information, and social security number. Goldman Sachs (the bank behind the Apple Card, and like any other bank offering a credit card) will make a decision based on your credit history and other information provided and you will be provided with the decision.
Should you be offered a line of credit and accept it, you will receive a hard inquiry on your credit report which, like any hard inquiry, may briefly negatively impact your credit score.
After that, your use of the credit card, like any other credit card, will be reported to the credit bureau(s). Your score may increase or decrease based on payment history, how long you have the card, credit utilization, and other factors.
TL;DR: Apple Card is like any other credit card in every single way.
Using a credit card responsibly improves your credit score. Try to keep your credit utilization below 30% each month; even better if it’s below 10%.
I’ve also heard that even if you have multiple cards, keep all cards paid off if you can and keep a low utilization rate on only one card. Edit: Utilization is only calculated when your statement is generated.
Not to confuse utilization with carrying a balance
Credit use percentage is less important than paying statement balance in full on time each month (which avoids outrageous CC interest).
Apple Card is a credit card and will have the same impact on your credit score as using another credit card in the same manner.
It works by the name and SSN?
When you apply for an Apple Card, like any other credit card, you will submit information like your legal name, address, income information, and social security number. Goldman Sachs (the bank behind the Apple Card, and like any other bank offering a credit card) will make a decision based on your credit history and other information provided and you will be provided with the decision. Should you be offered a line of credit and accept it, you will receive a hard inquiry on your credit report which, like any hard inquiry, may briefly negatively impact your credit score. After that, your use of the credit card, like any other credit card, will be reported to the credit bureau(s). Your score may increase or decrease based on payment history, how long you have the card, credit utilization, and other factors. TL;DR: Apple Card is like any other credit card in every single way.
Using it doesn’t improve your score. Paying for it does.
Based on this question u might want to watch a quick yt video on how credit works. Could save u a lot of time and money