MARCUS BY GOLDMAN SACHS

[RadioRob]

I believe they verified my employment through Equifax's Talx report (now called The Work Number I believe). I saw afterwards they hit my Talx report and that I was never directly asked about uploading proof of income.

My guess is if they can verify it with the automated records/reports, they don't ask about income proof. If they can't, they might fall back to the traditional "upload proof" action.

[Anonymous]

They ended up approving it late Sunday evening, which was awesome. No phone call or anything just got an email it was approved. Very simple process!

[Anonymous]

Did you have any data points

to share?

[Anonymous]

They pulled TransUnion then a day later deleted it which was odd but hey, not complaining! 😂 Trans was my lowest score at 690 as this for some reason always takes a bit to catch upto my other scores. 68%util on two cards in particular, and 33% Util overall. They approved after bank statements for $15k, and 8% interest. Only planning on using 8k to pay down those cards (retail cards with high APR from purchasing a home earlier this year). So overall I'm happy. 

[Anonymous]

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@Anonymous wrote:

Hello All

Applied back in December 2019 for a $3500 Marcus loan. I believe they pulled TU Fico 9 score of 726. At the time carrying 17% credit utilization with total balances around $7000 on cc's. Soft pull with options was presented with rates ranging from 10.5% to 12.5% based on term. Proceeded with app and hard pull on TU. Approved at 10.5% for $3500 with 36 month term. Additional .25% off using autopay. Funds received in 2 business days as I applied on a Saturday evening. They report to TU cra only. Funds used to payoff a 16.75% rate card and proceeds left over for holidays. One baddie showing November 2018 on rental mortgage. Isolated late and home was sold May 2019 so account showing closed. I have one other late reporting in 2014 on same mortgage but rest of credit is clean. 

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I just submitted a application for a personal loan with Goldman Sachs, and the response on step 4 of 5 on the application page says "Approved", with the following message under it.

Does anyone know if this means a decision hasn't been made yet, and what possibly will be my next step?

Pulled TransUnion - Fico 767

"Getting back to you quickly is our top priority. We’ll verify the information you provided and will reach out to you within 1-2 business days if we need any additional information."

[Anonymous]

I just submitted a application for a personal loan with Goldman Sachs, and the response on step 4 of 5 on the application page says "Approved", with the following message under it.

Does anyone know if this means a decision hasn't been made yet, and what possibly will be my next step?

Pulled TransUnion - Fico 767

"Getting back to you quickly is our top priority. We’ll verify the information you provided and will reach out to you within 1-2 business days if we need any additional information."

[Anonymous]

Not sure what they are  verifying. They have not asked anything of you. Possibilities may include verifying existence of self employment if applicable  , review of a fraud alert on credit or any discrepancies between application and credit like date of birth, SSN, address if recently moved. They made need a live person to review your application and decide if addition info is needed. 

[Anonymous]

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@Anonymous wrote:

I just applied for one. Got the available options, I chose one and then it said to upload bank statements. Did you have to do this as well? It's saying pending verification. Im assuming it's approved pending the POI. Just can't find too much info on these loans. Thanks!

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I applied Thursday for a loan with them as well, and got a call yesterday to verify some of my information, and given a few multiple choice questions. Getting worried if I'm approved or not. As you mentioned, it's not many topics about goldman sachs on the internet. 

[Anonymous]

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@Anonymous wrote:

Not sure what they are  verifying. They have not asked anything of you. Possibilities may include verifying existence of self employment if applicable  , review of a fraud alert on credit or any discrepancies between application and credit like date of birth, SSN, address if recently moved. They made need a live person to review your application and decide if addition info is needed. 

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They called me to verify my phone number, and asked a few multiple choice questions. The only thing they asked for me to upload after I submitted my application was my ID.

[Anonymous]

Exactly could be a discrepancy between application and credit . Credit report may not have the most up to date info or incorrect info. You can always ask the rep if there is reason for you to act to make any necessary corrections or updates to the bureaus. Visit www.annualcreditreport.com which is government sanctioned and free to get a complete report for each bureau once per year. You can check to ensure they are correct. You will receive a multiple page report from each bureau or whichever ones you choose after inputting information and asked security questions. I was not asked for any info or documentation  after being approved from Marcus and received a deposit into my checking account two business days after applying. I am a salaried employee so no self employment for me. They pull a Fico 9 score from TU I believe. Good luck let us know how it turns out. Nobar

[Anonymous]

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@Anonymous wrote:

Exactly could be a discrepancy between application and credit . Credit report may not have the most up to date info or incorrect info. You can always ask the rep if there is reason for you to act to make any necessary corrections or updates to the bureaus. Visit www.annualcreditreport.com which is government sanctioned and free to get a complete report for each bureau once per year. You can check to ensure they are correct. You will receive a multiple page report from each bureau or whichever ones you choose after inputting information and asked security questions. I was not asked for any info or documentation  after being approved from Marcus and received a deposit into my checking account two business days after applying. I am a salaried employee so no self employment for me. They pull a Fico 9 score from TU I believe. Good luck let us know how it turns out. Nobar

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Everything is accurate on my reports. Not sure why my process is going slower. They emailed me today to request that I upload my pay stub, which I did. I got another response of they will contact me in 1 to 2 business days. I guess I just have to wait it out. I'm wondering if denials are automatic if you don't qualify as soon as you apply.