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

[Trini88]

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@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!

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He declined the offer, said it was too low 🤣

[cashorcharge]

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@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.

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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 

[LADave]

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@cashorcharge wrote:

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@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.

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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 

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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.

[LADave]

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@Trini88 wrote:

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@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!

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He declined the offer, said it was too low 🤣

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

[Bmac66]

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

[NoMoreE46]

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....

[OmarGB9]

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