Is Marcus by Goldman Sachs a direct lender for personal loans?

Yes, Marcus by Goldman Sachs does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.

Marcus by Goldman Sachs's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your individual credit score may be affected by a hard inquiry, you can use the … read full answercredit score simulator on WalletHub.

It's worth noting that some people may be uncertain about whether Marcus by Goldman Sachs does a hard inquiry because there's only a soft inquiry during the pre-qualification process. Soft inquiries do not impact your credit score. But that's just the first step, and a hard inquiry is required when you officially apply.

If not having a hard inquiry is important to you, lenders that don't do a hard pull at all include NetCredit, Integra Credit and OppLoans.

To apply for a Marcus by Goldman Sachs personal loan, first check for pre-qualification and decide which way you will apply (online or by phone), then enter your personal and financial information on the application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.… read full answer

How to Apply for a Marcus by Goldman Sachs Personal Loan

1. Check for pre-qualification.Pre-qualification is a way to check your approval odds and potential rates before applying for a Marcus by Goldman Sachs personal loan. It doesn't hurt your credit. You can check for pre-qualification on the Marcus by Goldman Sachs website or WalletHub's pre-qualification tool.
2. Decide which way to apply.You can apply for a Marcus by Goldman Sachs personal loan online or by phone. Applying online is the best way because it typically offers the fastest decision.
3. Enter your personal information on the application.Marcus by Goldman Sachs requires the following personal information on the application: your name, address, Social Security number or Individual Tax ID number and proof of identity.
4. Enter your financial information on the application.Marcus by Goldman Sachs requires the following financial information on the application: your annual income and proof of income and/or employment.
5. Double check the application for accuracy.To ensure that your Marcus by Goldman Sachs personal loan application gets processed as quickly as possible, make sure that all the information is correct and complete before you submit it.
6. Submit your application.Marcus by Goldman Sachs will typically provide a decision on your application within 1 business day.

If you are approved for a Marcus by Goldman Sachs personal loan, you will generally receive the funds within 1 to 3 business days after approval. After that, it's your responsibility to make monthly payments until you have fully paid back your loan, including interest.

Yes, Marcus by Goldman Sachs personal loans are legit because Marcus by Goldman Sachs is registered to do business in the states it services, which is a legal requirement to be a legitimate lender. Another reason why Marcus by Goldman Sachs personal loans are legit is that the lender has a rating of A+ from the Better Business Bureau. The company also is accredited with the Bureau.… read full answer

Why Marcus by Goldman Sachs Personal Loans Are Legit

• Marcus by Goldman Sachs is registered as a business in the states it services.
• Marcus by Goldman Sachs has a Better Business Bureau rating of A+.
• Marcus by Goldman Sachs has been around since 2016.
• Marcus by Goldman Sachs has an average user rating of 2.9/5 on WalletHub.
• Marcus by Goldman Sachs personal loans have a rating of 4.5/5 from WalletHub's editors.
• Marcus by Goldman Sachs has a secure website, which you can tell by the fact that the URL has "https" in front of it.

While Marcus by Goldman Sachs personal loans are legit, they may or not be the best choice for you. It's important to compare the terms and requirements of Marcus by Goldman Sachs personal loans against your other options before submitting an application.