Marcus Loans Review
Marcus personal loans are some of the best options on the market. Marcus loans shine because of their low minimum APRs, lack of major fees, quick funding timeline and good reputation. Marcus is an online division of Goldman Sachs, a multinational investment bank.
The APRs on Marcus personal loans range from 6.99% to 19.99%. There aren’t too many other lenders that have minimum APRs lower than 6.99%. And while the maximum of 19.99% may initially seem high, it’s not too bad compared to similar lenders that may charge as much as 36%. Plus, Marcus boasts having, “No fees ever.” They don’t charge origination fees, fees for paying the loan off earlier than required, or even fees for paying late. Therefore, if you get a Marcus personal loan with a low APR, it really is that cheap – you won’t have to worry about paying extra in fees.
There are only two real downsides to Marcus personal loans. The first is that you can’t apply with a co-signer. And the second is that you won’t be able to get a loan with subpar credit. Your credit score will need to be at least 660 FICO or 600 VantageScore for you to qualify.
Marcus Loans Review Highlights
- Marcus loan rates: 6.99% to 19.99%
- Fees: None
- Loan sizes: $3,500 to $40,000
- Payment timelines: 36 to 72 months
- Funding time: Many Marcus customers receive funds in as little as 3 days
- Reputation: Marcus holds an A+ rating from the Better Business Bureau, and Goldman Sachs customers have filed very few complaints about personal loans with the Consumer Financial Protection Bureau.
- Marcus loan requirements: 600+ Vantage Score or 660 FICO score, Social Security number or Individual Taxpayer Identification number, 18+ years old, open U.S. bank account.
It’s easy to see why Marcus personal loans score well with WalletHub. If you’re interested, you can use WalletHub’s free pre-qualification tool to get a sense of your odds of approval with Marcus and other popular lenders. Below, you can see how WalletHub rates Marcus in three major categories: Terms, Requirements & Application, and Reviews & Transparency.
Marcus Loans Ratings by Category
Terms: 5 / 5
Requirements & Application: 4 / 5
Reviews & Transparency: 3.3 / 5
Overall Score: 4.5 / 5
These scores reflects how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.