Apple Card Accounts Begin Appearing on Credit Reports

When Apple initially announced that it would be launching a credit card, it stated that the product would be unlike anything seen before. Indeed the Apple Card does have a number of unique features, from it’s easy mobile-only application to its implementation of “Daily Cash.” However some aspects of what makes the card special have also caused frustration among some users, such as the inability to link the card to third-party tools like Mint nor add an authorized user. In that vein, one weird quirk of the Apple Card is that the accounts weren’t showing on users’ credit reports — well, until now.

As MacRumors reports, Apple Card accounts have begun popping up on the credit reports of cardholders. Additionally Goldman Sachs — the bank Apple partnered with for the card — confirmed the rollout on Twitter, saying, “We have been working with TransUnion to begin reporting your Apple Card information. Within the next 5 days, you will see the full details on your credit report.” Notably, as Goldman notes, accounts are currently only being reported to TransUnion and not other major credit bureaus such as Equifax and Experian.

It’s worth remembering that Apple Card is not only the first credit card for Apple but also marks Goldman Sachs’s debut in the space. That might partially explain why it’s taken this long for the bank to begin reporting to account information to the bureaus. Of course, while the card has been touted as “the most successful credit-card launch ever” by Goldman Sachs CEO David Solomon, the bank has also faced its fair share of headaches from the product, including accusations that the algorithm used to determine approvals and credit limits was sexist. Goldman says it’s investigating those claims.

In terms of how this development will affect cardholders, it likely depends on a few factors. For one, if Apple Card users are late or delinquent with their payments, adding this information to their credit report will undoubtedly hurt their scores. That said, those with positive payment history might benefit from having that information reported. Moreover those with a sizeable credit limit on their card and low utilization (meaning their balance is less than 30% of their total available credit) may also see increases. Incidentally, since Goldman is reporting to TransUnion, those curious about the impacts this move will have on their credit can visit sites such as Credit Karma or WalletHub, which provide free credit scores using the TransUnion data and the VantageScore 3.0 model.

With all things considered, Apple Card accounts finally being reported to credit bureaus seems like a net positive. If nothing else, it could suggest that Goldman Sachs and Apple will work on clever solutions to some of the functionality problems that have plagued certain cardholders. In the meantime hopefully this news will score some credit score boosts for those using their Apple Cards responsibly.


Jonathan Dyer

I'm a small town guy living in Los Angeles looking to make solid financial decisions. I write for a number of finance websites, including HuffingtonPost and Business2Community. I founded in 2015 to focus on personal finance and the emerging FinTech markets.

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