Does Apple Card check your income?

Answered by Tom Adger

Apple Card does check your income as part of the application process. When you apply for an Apple Card, Goldman Sachs, the issuer of the card, will consider various factors to determine your initial credit limit. These factors include your credit score, existing credit, income, and the minimum payments tied to your existing debt.

Checking your income is an important step for Goldman Sachs to assess your creditworthiness and ability to make payments on the card. Your income helps them gauge your financial stability and determine if you have the means to handle the credit limit they assign to you.

During the application process, you will be asked to provide information about your income, including your total annual income and any additional income sources you may have. This can include income from employment, self-employment, investments, rental properties, or any other sources.

Goldman Sachs may verify your income through various means, such as reviewing your tax returns, pay stubs, or bank statements. They may also use third-party services to confirm the information you provide.

It’s worth noting that the Apple Card application process emphasizes privacy and security. While your income is considered as part of the credit evaluation process, Apple has stated that it does not have access to the specific details of your income or how it is verified. This information is handled by Goldman Sachs in accordance with their privacy and security policies.

In my personal experience, when applying for credit cards, including the Apple Card, I have always been asked to provide information about my income. This is a common practice among credit card issuers to assess an individual’s financial situation and determine their creditworthiness.

To summarize, yes, Apple Card does check your income as part of the application process. Your income, along with other factors such as credit score and existing credit, helps Goldman Sachs determine your initial credit limit. Providing accurate and verifiable information about your income is crucial for a successful application.