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> with no impact to their credit[4] > 4. Upon purchase, a user’s Apple Pay Later loan and payment history may be reported to credit bureaus and impact their cr
by kevincox 4y ago
> with no impact to their credit[4]
> 4. Upon purchase, a user’s Apple Pay Later loan and payment history may be reported to credit bureaus and impact their credit.
What? Doesn't that footnote directly contradict the text that references it?
- hammock 4y ago“Users can apply for a loan within Wallet with no impact to their credit.” Typically what people worry about are the cost of a hard pull when applying for credit. Apple is saying they will not do a hard pull
- lotsofpulp 4y agoPeople should worry about having small short term loans on their credit report, because it could result in other lenders assessing them as a higher risk and therefore a higher interest rate. For example, you use Apple BNPL, and then in a couple years you go to buy a house, and they see that you use a BNPL service, and so their underwriting classes you as a higher risk and you could end up paying 100bps more on a mortgage. But the wording on Apple's website is fine since the whole claim is technically true: >Users can apply for a loan within Wallet with no impact to their credit.
- hammock 4y agoYeah I get what you are saying. I bought a cup of coffee from Starbucks and they told me it was hot but they didn't tell me the caffeine could make me restless and dehydrated. Are they bad? Should I sue them?