topic Re: GM/Goldman Sachs Approval, SL $4500 in Credit Card Applications

GM Rewards/Marcus by Goldman Sachs Pre-Approval SL $4500 — Did Not Accept

LADave — Sun, 13 Feb 2022 00:11:36 GMT

While researching if I could be approved for a Venture X card with my current scores and experience, I remembered that Goldman Sachs is doing soft pull approvals for their GM Mastercard (it becomes a hard pull if you accept the offer). This is similar to their Apple Card, which I happen to have.

I entered my info and got approved for a $4,500 limit and 9 months at 0% (24.99% afterwards).

It wasn't super painful to reject this offer, since I'm holding out for a better card and I really did this as a "science experiment." If I really needed a card with 0% interest right now, I'd probably take it. I don't own a GM vehicle and I'm not interested in getting one, so I'm not their target customer. But this soft pull approval does give me an idea what GS could offer me on my next CLI request for the Apple Card, which currently has a $3,000 CL. I am curious how much my history with the Apple Card factored into this offer.

GS indicates they use TransUnion FICO 9 scores for this card, similar to the Apple Card.

My TU FICO 9 is currently 719, while my TU FICO 8 is 699. $53,000 annual income, $19,400 in credit lines, 12.6 percent utilization.

Re: GM/Goldman Sachs Approval, SL $4500

gdale6 — Sat, 12 Feb 2022 22:55:36 GMT

Grats on your new GM card

Re: GM/Goldman Sachs Approval, SL $4500

Anonymous — Sat, 12 Feb 2022 23:20:48 GMT

Well, that's a decent offer. I'll admit I have done something similar before. I have gone through applications that only do a SP to give you an offer just to see what mine would be, without ever planning one getting the card. It's good for giving you an idea about what the creditor would be willing to extend you currently.

Re: GM/Goldman Sachs Approval, SL $4500

CreditAggie — Sat, 12 Feb 2022 23:46:37 GMT

Congratulations on your GM offer! Goldman Sachs continues to innovate with their card offerings by preapproving with a limit and APR on a soft pull and only hard pulling if you accept.

Re: GM/Goldman Sachs Approval, SL $4500

Trini88 — Sat, 12 Feb 2022 23:58:12 GMT

Congrats on your offer. This card I heard about 2 weeks ago and I am very interested for my husband to apply. It didn't look like it was a soft pull tho because it asked for his whole ssn so we didn't continue.

Re: GM Rewards/Marcus by Goldman Sachs Pre-Approval SL $4500 — Did Not Accept

FinStar — Sun, 13 Feb 2022 00:11:10 GMT

OP, I edited the title to avoid confusion by the community since you did not accept the offer from Marcus by Goldman Sachs on the GM Rewards Card. Accordingly, this thread has been moved to the Applications section.

Re: GM/Goldman Sachs Approval, SL $4500

LADave — Sun, 13 Feb 2022 00:36:04 GMT

@Trini88 wrote:
Congrats on your offer. This card I heard about 2 weeks ago and I am very interested for my husband to apply. It didn't look like it was a soft pull tho because it asked for his whole ssn so we didn't continue.

I had read in a couple of places online that it's a soft pull, and my experience with GS' Apple Card gave me confidence in this. I was a little nervous that the application page didn't mention it explicitly, but it did show up before I hit the final submit button (after I entered the SSN) .

At the bottom of the offer there were two buttons - a big blue and white one to accept the offer, and a much smaller text link to decilne it.

Even though I'm not interested in a GM vehicle, I honestly would have gone all-out for this offer just a few months ago, as a card with a relatively high (for me) SL, and 9 months of 0 percent interest.

Re: GM Rewards/Marcus by Goldman Sachs Pre-Approval SL $4500 — Did Not Accept

Anonymous — Sun, 13 Feb 2022 01:04:51 GMT

@LADave wrote:
While researching if I could be approved for a Venture X card with my current scores and experience, I remembered that Goldman Sachs is doing soft pull approvals for their GM Mastercard (it becomes a hard pull if you accept the offer). This is similar to their Apple Card, which I happen to have.

I entered my info and got approved for a $4,500 limit and 9 months at 0% (24.99% afterwards).

It wasn't super painful to reject this offer, since I'm holding out for a better card and I really did this as a "science experiment." If I really needed a card with 0% interest right now, I'd probably take it. I don't own a GM vehicle and I'm not interested in getting one, so I'm not their target customer. But this soft pull approval does give me an idea what GS could offer me on my next CLI request for the Apple Card, which currently has a $3,000 CL. I am curious how much my history with the Apple Card factored into this offer.

GS indicates they use TransUnion FICO 9 scores for this card, similar to the Apple Card.

My TU FICO 9 is currently 719, while my TU FICO 8 is 699. $53,000 annual income, $19,400 in credit lines, 12.6 percent utilization.

Just got a cli on applecard a few weeks ago. I was curious after reading this so I ran the gm preapproval and it was more than my current applecard 6500 limit at 8000. I declined as well. Too many cards.

Re: GM/Goldman Sachs Approval, SL $4500

Trini88 — Sun, 13 Feb 2022 08:16:04 GMT

@LADave wrote:
@Trini88 wrote:
Congrats on your offer. This card I heard about 2 weeks ago and I am very interested for my husband to apply. It didn't look like it was a soft pull tho because it asked for his whole ssn so we didn't continue.
I had read in a couple of places online that it's a soft pull, and my experience with GS' Apple Card gave me confidence in this. I was a little nervous that the application page didn't mention it explicitly, but it did show up before I hit the final submit button (after I entered the SSN) .

At the bottom of the offer there were two buttons - a big blue and white one to accept the offer, and a much smaller text link to decilne it.

Even though I'm not interested in a GM vehicle, I honestly would have gone all-out for this offer just a few months ago, as a card with a relatively high (for me) SL, and 9 months of 0 percent interest.

Thank you!

Re: GM/Goldman Sachs Approval, SL $4500

LADave — Sun, 13 Feb 2022 08:19:24 GMT

It's my pleasure! And I hope you'll let us know what happens if your husband decides to apply, it's always great to hear from the experiences of others!

Re: GM/Goldman Sachs Approval, SL $4500

Trini88 — Sun, 13 Feb 2022 08:36:07 GMT

@LADave wrote:
It's my pleasure! And I hope you'll let us know what happens if your husband decides to apply, it's always great to hear from the experiences of others!

He declined the offer, said it was too low 🤣

Re: GM Rewards/Marcus by Goldman Sachs Pre-Approval SL $4500 — Did Not Accept

cashorcharge — Sun, 13 Feb 2022 18:20:17 GMT

@LADave wrote:
While researching if I could be approved for a Venture X card with my current scores and experience, I remembered that Goldman Sachs is doing soft pull approvals for their GM Mastercard (it becomes a hard pull if you accept the offer). This is similar to their Apple Card, which I happen to have.

I entered my info and got approved for a $4,500 limit and 9 months at 0% (24.99% afterwards).

It wasn't super painful to reject this offer, since I'm holding out for a better card and I really did this as a "science experiment." If I really needed a card with 0% interest right now, I'd probably take it. I don't own a GM vehicle and I'm not interested in getting one, so I'm not their target customer. But this soft pull approval does give me an idea what GS could offer me on my next CLI request for the Apple Card, which currently has a $3,000 CL. I am curious how much my history with the Apple Card factored into this offer.

GS indicates they use TransUnion FICO 9 scores for this card, similar to the Apple Card.

My TU FICO 9 is currently 719, while my TU FICO 8 is 699. $53,000 annual income, $19,400 in credit lines, 12.6 percent utilization.

Thanks for sharing @LADave

I commented with @FinStar the other day that it appears the option to prequalify on their website is gone (not explicity called out) versus when the card launched. The only option now is "apply now" as in the screenshot below. Can you confirm that you used the Apply Now button and had that prequal experience or were you already a Marcus client....or I am just not seeing the link as easily as it was before? Thanks

Re: GM Rewards/Marcus by Goldman Sachs Pre-Approval SL $4500 — Did Not Accept

LADave — Sun, 13 Feb 2022 20:46:18 GMT

@cashorcharge wrote:
@LADave wrote:
While researching if I could be approved for a Venture X card with my current scores and experience, I remembered that Goldman Sachs is doing soft pull approvals for their GM Mastercard (it becomes a hard pull if you accept the offer). This is similar to their Apple Card, which I happen to have.

I entered my info and got approved for a $4,500 limit and 9 months at 0% (24.99% afterwards).

It wasn't super painful to reject this offer, since I'm holding out for a better card and I really did this as a "science experiment." If I really needed a card with 0% interest right now, I'd probably take it. I don't own a GM vehicle and I'm not interested in getting one, so I'm not their target customer. But this soft pull approval does give me an idea what GS could offer me on my next CLI request for the Apple Card, which currently has a $3,000 CL. I am curious how much my history with the Apple Card factored into this offer.

GS indicates they use TransUnion FICO 9 scores for this card, similar to the Apple Card.

My TU FICO 9 is currently 719, while my TU FICO 8 is 699. $53,000 annual income, $19,400 in credit lines, 12.6 percent utilization.
Thanks for sharing @LADave

I commented with @FinStar the other day that it appears the option to prequalify on their website is gone (not explicity called out) versus when the card launched. The only option now is "apply now" as in the screenshot below. Can you confirm that you used the Apply Now button and had that prequal experience or were you already a Marcus client....or I am just not seeing the link as easily as it was before? Thanks

I don't remember it saying "prequalify" anywhere on the site, and if I remember correctly it looked like it did on the screenshot. It's more-or-less a de facto prequalification page, in the sense that you're not going to get dinged with a hard inquiry unless you accept the offer and if you're declined you won't get a hard inquiry at all.

That's what I was expecting when I checked to see if I qualified for a Best Egg card offer, but it isn't what I got (I was accepted and didn't have a chance to decline the offer, which I was curious if I could get but didn't really want). And GS/Marcus could change the process without telling anyone. So I do understand the caution.

Re: GM/Goldman Sachs Approval, SL $4500

LADave — Mon, 14 Feb 2022 06:16:54 GMT

@Trini88 wrote:
@LADave wrote:
It's my pleasure! And I hope you'll let us know what happens if your husband decides to apply, it's always great to hear from the experiences of others!
He declined the offer, said it was too low 🤣

That's sometimes the best reason. Thanks for letting us know @Trini88!

Re: GM Rewards/Marcus by Goldman Sachs Pre-Approval SL $4500 — Did Not Accept

Bmac66 — Tue, 22 Feb 2022 21:21:30 GMT

We received the same offer in the mail this week. We own two GM vehicles and have been mulling it over. We just received the Apple Card about 2 months ago with a $4500 SL. We bought two iPads with the 12 months no interest option. We've made one payment thus far. We have 5 cards between us and put most things on our NFCU Rewards card. I like the idea of having the GM card as our primary so we receive the GM rewards which we participate in. I didn't see where it would be a soft pull to prequalify so didn't pull the trigger. We bought a new car in August and then the Apple Card so have a few pulls in less than 12 months. Need to think it over some.

Update 2/22:

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/GM-Rewards-Card-Approval/td-p/6494642

Tried the SP approval for the new GM card by Marcus

NoMoreE46 — Mon, 21 Feb 2022 04:48:36 GMT

I got a very nice $10k SL playing with the pre-approval site.

I didn't accept as I don't plan on a GM purchase (or any vehicle for years really).

There is an option to get gift cards, but the redemption rate is horrible....

Screenshot_20220220-214209~3.png

Re: Tried the SP approval for the new GM card by Marcus

OmarGB9 — Mon, 21 Feb 2022 07:21:29 GMT

Not bad. I got $5k, but I don't remember the APR.