GM Business Card Feb 18!!!!

[cashorcharge]

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@AceTen wrote:

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@cashorcharge wrote:

Thanks for that update!  Who will be first to test it for us?

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Not it! But thanks for the post! I will be rooting for my more courageous business forum friends.

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I nominate @M_Smart007 as tribute to test this using his SP.  Inquiring minds wanna know...

[4sallypat]

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@cashorcharge wrote:

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@AceTen wrote:

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@cashorcharge wrote:

Thanks for that update!  Who will be first to test it for us?

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Not it! But thanks for the post! I will be rooting for my more courageous business forum friends.

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I nominate @M_Smart007 as tribute to test this using his SP.  Inquiring minds wanna know...

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Yes! @M_Smart007 should be our first tester with LOL/24 !

What do you say ?

[AceTen]

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@cashorcharge wrote:

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@AceTen wrote:

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@cashorcharge wrote:

Thanks for that update!  Who will be first to test it for us?

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Not it! But thanks for the post! I will be rooting for my more courageous business forum friends.

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I nominate @M_Smart007 as tribute to test this using his SP.  Inquiring minds wanna know...

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Seconded. Motion Passes.

[kidink1911]

Super excited about this one! Praying that there is hope for acceptance with no PG! 

[RealEstateGuy89]

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@FinStar wrote:

The one thing that is unknown at this time is whether the new GM business version will report to personal CRAs. In the past, Capital One biz CCs reported to personal CRs.  What is also unknown is whether the same login will apply for those customers who have the personal version and decide to also obtain the business version of the card 🤷‍♂️

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Very good points FinStar! Thank you for bringing that to light. I know that reporting to the personal bureaus would be a dealbreaker for me. It should be interesting to see. 

[FinStar]

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@RealEstateGuy89 wrote:

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@FinStar wrote:

The one thing that is unknown at this time is whether the new GM business version will report to personal CRAs. In the past, Capital One biz CCs reported to personal CRs.  What is also unknown is whether the same login will apply for those customers who have the personal version and decide to also obtain the business version of the card 🤷‍♂️

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Very good points FinStar! Thank you for bringing that to light. I know that reporting to the personal bureaus would be a dealbreaker for me. It should be interesting to see. 

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Right. 

I think that for a lot of business owners wanting to keep the reporting of personal credit lines and business credit lines separate is paramount. The other thing we don't know (until the applications become 'live') is whether the Marcus portal allows the option of a pre-qualification as opposed to a straight, cold application. But, soon we'll know, at least this piece.

[RealEstateGuy89]

I called Goldman Sachs the other day to ask them a question about my Apple card and while I was on the phone I decided to ask if they had any information on the new GM Business Card coming up. The 1st thing they told me is that the start date for the GM Business Card has been pushed back to 02-24-22.

So then I asked her if the business card would be reporting to the personal credit bureaus and she said she thought it would (She was the 1st level of support and I don't think she really knew for sure).  I told her that that is usually not the case with most business cards except for a small handful of companies that do. She passed me on to a supervisor and when the supervisor answered, she tried to pull up the information for the business card and she said that information on this card has not been confirmed yet and that usually this information is not made available to anyone or fully decided until the day before the card launch. 

She asked me if she could call me back after she tried to find the answers to my questions and I said yes. When she called back, she said that she didn't think that it would report to the personal bureaus and then apologized and said that if I called back on the 23rd, they should be able to answer any questions that I have then and that is when she expects the final particulars on the card to be released.

So I'm going to call back on the 23rd and try to get some definite answers from them and as long as they say that it will not report to personal, I will apply on the 24th and take a chance to see if it does. Assuming that I am approved, I think we should know 30-45 days if it reports to my personal bureaus as I watch them closely. 

It approved me for $8000 for the GM personal card and it said that I have until March 8 to accept but I am thinking about declining it before I apply for the business card.

[Red1Blue]

Hi @RealEstateGuy89 Thank you very much for the information. When I applied for GM Card pre-approval with the message "too many inquiries" also the email said my TU FICO scores are 711. I am not sure if I have too many inquiries. 4 from US Bank. Two for unsecuring the secured cards and 2 for new secured cards that I applied for. I am going to wait for 6 months and see if I can pre-qual for business card. I am not sure for business card they are going to rely on personal credit scores or if they are going to Ex Biz / D&B / EQ Biz or some other business reports.

[FinStar]

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@RealEstateGuy89 wrote:

I called Goldman Sachs the other day to ask them a question about my Apple card and while I was on the phone I decided to ask if they had any information on the new GM Business Card coming up. The 1st thing they told me is that the start date for the GM Business Card has been pushed back to 02-24-22.

So then I asked her if the business card would be reporting to the personal credit bureaus and she said she thought it would (She was the 1st level of support and I don't think she really knew for sure).  I told her that that is usually not the case with most business cards except for a small handful of companies that do. She passed me on to a supervisor and when the supervisor answered, she tried to pull up the information for the business card and she said that information on this card has not been confirmed yet and that usually this information is not made available to anyone or fully decided until the day before the card launch. 

She asked me if she could call me back after she tried to find the answers to my questions and I said yes. When she called back, she said that she didn't think that it would report to the personal bureaus and then apologized and said that if I called back on the 23rd, they should be able to answer any questions that I have then and that is when she expects the final particulars on the card to be released.

So I'm going to call back on the 23rd and try to get some definite answers from them and as long as they say that it will not report to personal, I will apply on the 24th and take a chance to see if it does. Assuming that I am approved, I think we should know 30-45 days if it reports to my personal bureaus as I watch them closely. 

It approved me for $8000 for the GM personal card and it said that I have until March 8 to accept but I am thinking about declining it before I apply for the business card.

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An few items to keep in mind: they (the agents and/or supervisors) may not fully know about reporting even after the product launches.

While everyone can hope that it doesn't impact personal credit reporting, this is brand new territory for Marcus by GS with this particular business product. Some teething instances were experienced with the initial reporting aspects with the Apple Card when launched. So, while the best intentions may be there based on the information the agent may know at the time, I would temper expectations. 

By all means, test the waters and see how it fares for you. It's fairly evident others will follow a similar path.

[cashorcharge]

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@FinStar wrote:

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@RealEstateGuy89 wrote:

I called Goldman Sachs the other day to ask them a question about my Apple card and while I was on the phone I decided to ask if they had any information on the new GM Business Card coming up. The 1st thing they told me is that the start date for the GM Business Card has been pushed back to 02-24-22.

So then I asked her if the business card would be reporting to the personal credit bureaus and she said she thought it would (She was the 1st level of support and I don't think she really knew for sure).  I told her that that is usually not the case with most business cards except for a small handful of companies that do. She passed me on to a supervisor and when the supervisor answered, she tried to pull up the information for the business card and she said that information on this card has not been confirmed yet and that usually this information is not made available to anyone or fully decided until the day before the card launch. 

She asked me if she could call me back after she tried to find the answers to my questions and I said yes. When she called back, she said that she didn't think that it would report to the personal bureaus and then apologized and said that if I called back on the 23rd, they should be able to answer any questions that I have then and that is when she expects the final particulars on the card to be released.

So I'm going to call back on the 23rd and try to get some definite answers from them and as long as they say that it will not report to personal, I will apply on the 24th and take a chance to see if it does. Assuming that I am approved, I think we should know 30-45 days if it reports to my personal bureaus as I watch them closely. 

It approved me for $8000 for the GM personal card and it said that I have until March 8 to accept but I am thinking about declining it before I apply for the business card.

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An few items to keep in mind: they (the agents and/or supervisors) may not fully know about reporting even after the product launches.

While everyone can hope that it doesn't impact personal credit reporting, this is brand new territory for Marcus by GS with this particular business product. Some teething instances were experienced with the initial reporting aspects with the Apple Card when launched. So, while the best intentions may be there based on the information the agent may know at the time, I would temper expectations. 

By all means, test the waters and see how it fares for you. It's fairly evident others will follow a similar path.

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Good point @FinStar as you're right...the Apple Card was new territory for them and the initial reporting not only took a long time in 2019, even now it's laggy each month.