Marcus by Goldman Sachs is an online financial services platform that offers lending, investment, and savings products. Here are some key things to know about Marcus:
A+ BBB rating
3.1/5 average rating among users
Available in all 50 states and the District of Columbia
Offers personal loans, debt consolidation loans, home improvement loans, credit cards, savings accounts, and investment services
Marcus personal loans have low minimum APRs, low fees, a quick funding timeline and a good reputation. Marcus is an online division of Goldman Sachs, a multinational investment bank.
The APRs on Marcus personal loans range from 6.99% - 24.99%. There aren’t too many other lenders that have minimum APRs lower than 6.99%. And while the maximum of 24.99% may initially seem high, it’s not too bad compared to similar lenders that may charge as much as 36%. Plus, Marcus has a 0% origination fee, None prepayment fee, and None late fee. 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. You will need a 660 FICO score to qualify, reportedly.
Marcus by Goldman Sachs Review Highlights:
Marcus loan rates:6.99% - 24.99%
Origination fee:0%
Late fee:None
Loan sizes:$3,500 - $40,000
Payment timelines:36 - 72 months
Approval time: 1 to 2 business days, usually
Funding time: 1 to 4 business days after approval
Reputation: Marcus holds an A+ rating from the Better Business Bureau and an average user rating of 3.1/5 on WalletHub.
Marcus loan requirements: 660+ FICO credit 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 our three key categories: Terms, Requirements & Application, and Reviews & Transparency.
Marcus Ratings by Category:
Category
Editor’s Rating
Terms
4.6/5
Requirements & Application
4/5
Reviews & Transparency
3.5/5
Overall Score
12.1/15
These scores reflect how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.
Product: Marcus by Goldman Sachs Personal Loans
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John S @J507734
All I have with them is a small loan, but what I don't like is their ridiculous rule that you can only get e-statements if you have the payments automatically withdrawn from a checking account. So I can only be eco-friendly if they have access to my credit union account every month? Otherwise I have to deal with paper statements? Auto-pay is not convenient for everyone.
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Marcus by Goldman Sachs
sbomason63 @sbomason63
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1 Star Rating
I was hacked and scammed. I informed Apple Card Goldman Sachs that the card needed to be closed. They did not, and let the hacker charge over $5,000.00. I have had nothing but trouble with this card and Goldman Sachs.
I put over $100,000 in a savings account with them, and when I went to withdraw some money three weeks later to pay for my daughter's wedding, they would not let me! They told me it was considered 'fast moving money.' There was no documentation stating a specific time limit during which I was not allowed to withdraw my funds. According to them, it's completely up to their discretion. After many hours and phone calls with multiple people who were unable to assist me, I finally got my money out. It was a very frustrating and frightening experience. I would not recommend them to anyone. Even in the end, they could not provide me with tracking numbers for the checks. Absolutely nobody there could answer any of my questions.
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Product: Marcus by Goldman Sachs Savings
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Marcus by Goldman Sachs
Bokyung Park @qhrid1004
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1 Star Rating
WORST CARD EVER. When they say “lock the card,” it only applies to the physical card — not online transactions. Over the last few months, I had multiple unauthorized transactions (different amounts but always from the same vendor, DoorDash). Despite following every recommendations they gave me — keeping my physical cards with me, logging out everywhere, resetting passwords for all accounts — the fraudulent charges continued, but only with the Apple Card online!!!!
Eventually, I realized they cannot handle security-related issues. In the end, I chose to close my account, then they charged me for all the disputed transactions that I never made. Completely unacceptable.
Goldman Sachs (GS) is terrible and dishonest. For two years, I disputed a charge. Finally, I took GS to small claims court, where I won. Now they still continue to bill me for the disputed amount. I have cancelled my Apple Card.
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Marcus by Goldman Sachs
fredda lickleat @chan05rtytf
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1 Star Rating
Apple Card is forcing us into purchases without requiring a confirmation button and applying false charges for applications I did not want; therefore, I have lost money. Do not use this card; buyer, beware.
I love this awesome-looking platinum card; it's impressive and feels cool to hold, and also has unique security features. I only wish I had an option to ask for a credit increase because I'd love to actually use it more, but I don't want my ratio too high.
Worst Credit Card Ever. Very poor customer service. I wanted to have monthly statements sent to me; they refused. It takes them nearly a month and a half to process a payment. There are too many layers: Apple, then Goldman Sachs. After many recurring issues, I paid off the balance and closed the card. They never processed my last payment, and they never contacted me either. Only recently, after a credit report, I learned I have a delinquent status. So they reported me without ever sending me a statement, an email, or a letter. What makes it worse is that they changed my address on file to some other address and they wouldn't communicate to me the address on file, although they successfully verified my identity. Worst ever experience with Apple products. Believe me, all my phones have been iPhones, I have an iPad and a Mac. Stay away from the Apple Card.
Love my Apple Card, enjoying it so far. The cash back is one of the best out there; it adds up quickly. Looking forward to having this card for a long time.
My experience with the Apple Card is the worst I have ever had with a company. Here is why:
- Their policy is that if you return a product, they bill you for the Daily Cash they gave for the initial purchase. They don't simply deduct the Daily Cash from your total; they bill it as if you made a new purchase. You then owe that money on the next payment.
- The information on the iPhone app and on the website is not the same. Note that you cannot see transactions on the website. You cannot see Daily Cash totals on the iPhone app (you only see Daily Cash recently added). You have to switch back and forth between the two apps/sites to know the status of your account.
- I had to return one of the two MacBooks I purchased because the Apple Store accidentally sold me the same serial number twice. I spent 4 hours and 37 minutes in 9 phone calls to customer service (Goldman Sachs) before getting it resolved. They created 5 separate "tickets" in the process.
- When the customer service representative created a ticket, it had to go to the Goldman Sachs "back end" team. Those individuals sent me 4 emails saying there was no problem, the case was closed, and if I had any questions to call the general customer service number. They gave me no way and no opportunity to talk directly to the "back end" person to explain the situation. Each time I had to go back through the general customer service number, where they agreed there was a problem, but they could not solve it, could not talk to the "back end" team, and they just created yet another ticket, and we started all over.
In summary, their customer service approach is insulting, and their tools are amateurish. Goldman Sachs, whom Apple uses to support and manage the Apple Card, seems to have no interest in caring for the customer.
I like some things about this card but if you use it a lot they will start to stall your payments so you can’t even use the card for weeks at a time!!! When you call they say it’s because you have made an unusual payment amount!!! I have always made multiple payments in a month. I buy things and then turn around and pay them off before the interest hits. I guess that doesn’t make them money so they penalize me! So sick of this card….
At first, this card seems great, with a decent interest rate and a nice credit limit. What they do not tell you, or what is written in fine print, is that they will hit you with double interest charges repeatedly, which they refer to as "trailing interest." On top of that, they charge your regular APR. With the double interest charges, it becomes very difficult to pay in full, and you might as well completely forget about the customer service, as it is terrible. I personally have several credit cards, none of which handle business or interest in this manner. If you value your credit and your future, avoid this card at all costs.
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Product: Marcus by Goldman Sachs Credit Cards
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Marcus by Goldman Sachs
Jonathan Kirkland @jonathan2000
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5 Star Rating
Wow, fabulous card! I love it and I love Goldman Sachs for changing my credit journey drastically by extending me a credit limit which doubled my highest limit, raising my score about 40 points. Then four of my other nearly twenty cards drastically raised my limits as well, and I went up an entire rung on the credit ladder. Amazing what a little trust can enable for someone who has built and built for eleven years post-bankruptcy, and sacrificed and did without in order to get a mortgage and never need another landlord's permission for anything. I love my Apple Card. I use it for everything and, unfortunately, carry a balance, but keep it below 50%. That's the ticket to success: utilization at or below 30%, but each 10% less raises your score, so aim high to get below 80%, then 70%, then 50%. It's hard at 50%, but all your payments get smaller, and always at least pay the amount you want the balance reduced by, plus the amount of interest charged the previous month, and the balance will move down quicker and save you tons of interest. This card has a lower interest rate than most of my cards, but the ticket is to use it with special financing for Apple products for 18 months at 0% interest on a MacBook and such.
I have spent the entire day, five hours on eight different calls, and they still have not initiated a wire transfer even though I have been told multiple times that it is in process, only to be subsequently called back and told it is not being processed. I have been disconnected by Marcus twice.
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Product: Marcus by Goldman Sachs Savings
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Marcus by Goldman Sachs
john kish @kipk999
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1 Star Rating
I have had a few merchant disputes since starting my Apple Card almost ten years ago. Today was the last straw. All three times they have been completely ineffective, requesting the same information over and over, and not protecting the customer. The representatives are very lackadaisical and constantly seem to forget anything that's been done previously on your card or account. Much better customer service exists for my other bank cards. I will definitely not recommend using the Apple Card to others.
Get answers to your questions about Marcus by Goldman Sachs below. Editorial and user-generated content is not provided, reviewed or endorsed by any company. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered. In addition, WalletHub independently collected information for some of the cards on this page. Ad Disclosure
You can log in to your Apple Card account by going to the login page on the Apple website or Wallet App and entering your username and password in the appropriate fields. Then, click the “Sign In” to access your online account.
How to Register for Online Access on your Apple Card Account
Register your Apple Card for online account access. Click “Don't have an Apple ID? Create yours now” and enter your name, date of birth, phone number, and country of residence to verify your credit card account.
Choose your Apple Card Apple ID and password. The password must contain at least 8 characters, have at least one number, and contain both upper and lowercase letters.
Log in with your new Apple Card credentials. From the login page on the Apple website or through Wallet App, fill out the Apple ID and Password fields using your new credentials, and click “Sign In” to access your account.
After you have signed up and logged in, you'll be able to manage your Apple Card account online. You can pay your credit card bill, see credit card statements, monitor account activity, and change account information such as passwords and automatic payments.
In case you forget your login information, you can click “Forgot Apple ID or password?” on the Apple login page and follow the prompts to reset or retrieve your username or password.
The most important thing to know about the Apple Card's cash back program is that it awards cardholders with 1 - 3% cash back, depending on the type of purchase. Another good thing to know is that the Apple Card's cash back program distributes rewards on a daily basis. The same day a purchase processes, you will receive the cash back for that purchase. It's also worth noting that there's no limit to the amount of cash back the cardholders can...
The only way to apply for the Apple Card is through the Wallet app on an iOS device, such as an iPhone or iPad. Other than making you sign in to iCloud, the application itself is pretty similar to any other credit card application. Applying should only take a few minutes.
How to Apply for the Apple Card:
Update your Apple device to the latest iOS version.
The Apple Card credit score requirement is 700 or better. That means people with good credit or better have a shot at getting approved for the Apple Card.
Note that while your credit score is very important, plenty of other things will impact your chances of being approved for the Apple Card. Some other key criteria include your income, existing debt load, recent credit inquiries, number of open accounts, housing status, and employment status.
No, you cannot do a balance transfer with your Apple Card. The issuer does not allow balances from other issuers' accounts to be transferred to the Apple Card. In general, balance transfers allow you to shift high-interest debt from your current account to another issuer's credit card and pay off the balance, presumably at a reduced interest rate.
Although the issuer does not allow balance transfers with the Apple Card, there are plenty of options from other issuers to choose...
You can make an Apple Card payment online, by phone, through the Marcus by Goldman Sachs mobile app, or by mail. To pay an Apple Card bill online, log in to your online account and click on “Payments.” Then, choose how much to pay, when to pay it, and where the payment is coming from. Marcus by Goldman Sachs does allow cardholders to set up automatic payments, too.
The Apple Card interest rate is 17.74% - 27.99% (V), with the exact rate depending on factors such as your income, credit history and existing deb. Apple Card interest rate is variable, meaning it can change based on certain economic conditions.
The Apple Card also offers new cardholders an introductory interest rate of 0% for 6 - 24 months on purchases. After the card's intro rate expires, the regular interest rate applies to any remaining balance. In addition, there are a few other Apple Card interest...
Your Apple Card approval odds are good if you have a credit score of 700+, which is considered good credit. Approval odds for the Apple Card will also be influenced by your annual income and existing debts. Applicants will need to be 18+ years old with a U.S. mailing address and an SSN or ITIN, as well.
Yes, the Apple Card is a credit card. The Apple Card is issued by Marcus by Goldman Sachs, works wherever Mastercard is accepted, reports to the credit bureaus, and allows you to pay off purchases over time. There are quite a few important things to know about the card before you apply, though.
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