Marcus by Goldman Sachs Reviews

My mother has Dementia. I am her only child. She gave me POA to take care of her bills/nursing home expenses. This bank refuses to let me use her funds to pay for her care. Believe it as a fact. --They will not let me transfer funds to her Chase checking account. They let me do this before 3 times before. Now they said the account is under review. They will not put this in writing nor give their names.

They have locked and frozen my account four times in three months on a whim. Stay as far away as possible from these people. You will get a cryptic email to call just before with zero explanation and wait 30 minutes to talk to someone with prayers to release your savings account funds.

I have a certificate of deposit banking account with Marcus by Goldman Sachs. On 10/14/22 I logged into my account and changed my CD plan maturity instructions to Close CD on 12/10/2022. I received an email confirmation. On 12/23 I realized I had not received the funds and inquired why that would be. I was told that I didn’t update the instructions even though I have an email confirmation that I did just so. I spoke with Marcus by message and by phone call and they are unwilling to close the account they renewed despite my specific instruction not to renew. They did not call me by phone or make it clear that any further instruction would be necessary and did not let me know that the account was renewed. This is extremely concerning and sketchy business practices.

I tried to open a Marcus by Goldman Sachs savings account on December 13, 2022. On Monday December 19, 2022 I still had not succeeded in opening this bank account. I have never experienced such a poorly programmed website as Marcus. The website keeps going down. Customer service is horrible. They hung up on me several times. The trust is just not there.

Do not sign up for any of their personal loans. Their system does not accept extra payments, is inflexible with extra funds, and the phone customer service people are moody. I will never use them again for any future planning needs.

Do not get a personal loan from this company. Here are some of the things I've experienced. Paying your loan on the due date is not possible after their close of business. They are on US Easter time. Any payment attempt after their close of business (even if attempted on the payment due date) is considered late. Never experience a company that calls your payment late before close of business in your own time zone on payment due date.

Worst card & customer service (Patricia) ever, warning!!! Warning!!! Stay clear of this high interest headache. I never signed up for this card to make things clear, since Capital sold this card to Marcus by Goldman Sachs this has been trouble as far as interest, I paid the balance in full. A week later I open the card and it's a interest fee, I was told I had to pay the balance for two months straight (some garbage that made absolutely no sense at all, considering I paid it off before the interest even hit the card), I just end up paying the remaining interest just to put this behind me but I will not use this card for nothing but small purchases just to keep it open so it won't hurt my credit, in my opinion this is a complete scam card.

Rachele from customer service dispute just called me to say that they are still charging me for a "purchase" that a fictitious company is billing me for. They have no way and NO desire to contact the company with me. Marcus has given me a phone number that does not answer - 833 268 5811. A PO Box that does not respond to my snail mail request; an email address that does not exist info@trulycoreelectronicsstore.com and a USPS tracking number that the Postal Service says have never been issued and NOTHING HAS BEEN DELIVERED TO MY HOME. These charges were put onto my credit card during the MARCUS takeover of my previous GM credit card. There is no signature from me and I have NEVER USED THE MARCUS CARD.

Please do not do business with this company!!! They will take your money and you will not be able to access your account. Then, when you request to have the account closed they will not closed the account and you will have to jump through hoops to get your money transferred to your linked account. They are bad for business. If you’re trying to gain a few extra bucks it’s not worth the hassle that you have to endure.

Normally I would not review, but this has been such an extreme experience I feel compelled to warn others away. I used my card for the first time to make a purchase as part of my GM Rewards membership. I never received a paper or electronic statement letting me know when my payment was due. I found out with an email when it was past due. The website hangs when trying to log in to access the account and make a payment (thus is not possible to make payment online). The phone automated attendant takes forever to process through and continually tells you to go online for faster service. The only positive is if you are lucky enough after an extremely long wait to speak to a customer service rep, they are very helpful, kind, and professional. I've closed my account after only having it for 3 months +/-.

Do not consider this bank for your personal savings. Although they brag about their interest rates they continue to lag far behind actions by the Federal Reserve and other FDIC insured competitor options. They are great about collecting your money but a total pain to move money from your Marcus account to other institutions. Linking "external accounts" not only requires completing an exercise using their third party vendors (where you'll have to provide user name and passwords) but significant time and inconvenience while they set up a three party phone call with the other institution. Want to close your account? Prepare for significant delays and more than a week to complete a wire transfer.

Summary: Avoid this bank if you will ever need to access your money in a timely manner. I transferred money into my savings account with Marcus from an account with another bank. Ten days later, my offer to buy a house was accepted. In order to make the down payment process easier, I attempted to transfer the money out of the Marcus account to my original account. The transfer failed. I tried again. It failed, again. So I tried to transfer to a smaller amount to see if there was just problem with amount limits. That transfer failed. Then Marcus locked my account. Mind you, this is the account which I have explicitly linked to my Marcus account through the Marcus website, and from which the funds were originally transferred to my Marcus account.

Capital One sold my card to Marcus. My APR is 4%. They have been charging me over 20%. I spoke to at least 5 employees, who are not trained on basic calculations. Most did not know how to calculate my daily periodic rate from my APR. I had to explain my issue over and over again. Disputed the interest charge every month. Every time they would send me an email and say the interest charge was correct. I am also covered under military benefits which I have a letter from them stating I’m not eligible for. At one point a “manager” called me to tell me that the interest was correct. I asked if she had looked at my statements prior to the higher interest and she said no that she would have to go back and check. So they don’t research before they call.

We've had GM Cards for decades, and the bank operating the card was switched to Marcus. They are operating in dark ages, as others here have reported. I needed to dispute a charge. You cannot mark a transaction as disputed online, you have to call. It took forever to place a simple dispute - on hold repeatedly. Then, after being on hold yet again, I was transferred to someone who said they had put a block on my card and were sending a new one! My card wasn't compromised, I was just flagging a dispute until the company that placed the erroneous charge removes it. She said they could not unblock it, so I have to wait for a new card. None of our other cards offer customer service this bad. With other cards, I go online, mark a dispute, and move on.

I read that Marcus.com had great rates and a simple process to follow. I applied for a small personal loan, I have 816 middle credit score, income is north of $240K and we do not have much debt and our LTV on our home is less than 60%. On paper, I would seem to be an easy candidate to approve. 1. I apply, submit the paperwork and the system says they will be back to me within 48 hours. 5 days go by, I hear nothing so I reach out. They need more paperwork. I supply the paperwork. Another 5 days go by, again, I reach out and they need more paperwork. I supply the paperwork and, you guessed it, I did not hear back from them, so, I reach back out and this time, they want to speak with my existing bank to verify my assets.

I have had a GM card for 20 plus years! Paid in full every month. Then these IDIOTS took over the card. They sent my bill to an address that we have not lived at in over 4 years. We never received a bill. A friend from the old area brought the bill over to our house that we have been in for 4 years. They charged me interest and a late fee, when they SCREWED UP!!!! Then treated me like a thief when I called they POOR customer service. Management won't take phone calls!!!! They called me back in 7-10 days. Won't admit that they could ever be wrong! Well today was the day it was PROVED TO THEM!!! Climb off your high horse.

Stay away from Marcus by Goldman Sachs at ALL COSTS. Seriously, if you take any honest review to heart and look for a different product, this is the one. My experience has been absolutely horrendous and I want to save others from the headache of dealing with a company still operating in the dark ages. If you don't believe me, check out the wall of 1 star reviews here: **. This company is horrible. It does not empower its employees with the ability to do anything helpful for business customers. Business customers can only contact customer service through one line, via phone - not email, chat, etc. - and the phone representatives have no power to make anything happen other than tick buttons in a system and tell the customer on the other end of the line that they're actually doing something.

Renewed my CD on May first. Next day, I intended to change to a different type of CD. I was told the grace period was expired, and I was not allowed to make any change. What a ridiculous nonsense! Then, the "supervisor" told me the same thing. Every bank I know you can make as many changes as you can during grace period.

I've been a customer of Capital One since 2007. On March 4, 2022 I went online to Capital One to make a payment, as I usually did. I knew about the transfer to Marcus by Goldman Sachs but did not have a new card or a new statement yet. I couldn't log on to Capital One because Marcus had already taken over. I wrote a check, took a picture of it and mailed it. During the following week I kept trying to contact SOMEONE by phone at Capital One to update my information but was on hold for 30 minutes or more each time. I had three automatic monthly charges on my Capital One account. When I finally got my first Marcus statement there was one purchase listed on the statement. It didn't match any of my three automatic charges. There was no phone number listed on the statement.

They cancelled all my automatic payments including the electric company, without sending me a new card. The account number is not anywhere to be found. It is not on the website. Not on the account statement. Without the account number I could not use bill pay. It took 2 calls to get the account number. The first had me on hold for over an hour.

I had a GM credit card issued by Capital One for a long time - probably over 8 years. I never used it much, but when I did the bill was easy to pay on Capital One's web site and you could get in touch with customer service very quickly or nearly immediately engage in a chat. At least 4 months ago I received notice that this card was being taken over by Goldman Sachs. To date I have not received a new credit card. I got statements which listed the last 4 numbers of my new card, but had no idea what the card number was. I tried to get in touch with Goldman Sachs at the number listed and was put on hold for half of forever. No offer to call you back.

I am filled with upset. Marcus Goldman Sacks takes over my Capital One BuyPowerCard with zero authorization from me and began to charge me over $70.00 in interest a month. Never contacted me about the transition until after payment was due then overdrew my bank account by thousands of dollars. This is bullying to the like of mobsters. I am disgusted in the people behind this type of sin.

2/25/2022 mailed (check) payment for my GM card to MARCUS GS at PO Bx 7247-Lock Bx 6104, Philadelphia, PA 19170, as listed on their website for payments. Check cleared my bank on 3/2, but has not been credited to my account. Called MARCUS - on hold for 1 hour - then told that they could not find my check-lost my check-it disappeared. Someone would contact me within 48 hours. Almost a week and no contact. It is a shame that GM chose to partner with this company. I have been a GM customer for 60 years and a GM card holder for many years. I will get a different credit card and GM has lost a loyal customer! Hopefully someday they will locate my $1500 check.

I obtained two loans from Goldman for debt consolidation and moving expenses. As life would have it, my husband lost his job, and we were unable to pay the loans as we had been. Goldman either couldn't or wouldn't work with us, and the loans ended up being charged off. I started working with National Debt Consolidation, and was able to settle one of the loans. The other is a nightmare that is still ongoing. Initially, I was led to believe the loan was with ARS Settlement. When I called to pay the loan off, I was told that the loan had been sent back to Goldman. When I called Goldman, their records hadn't been updated, and still showed that the loan was with ARS. When I relayed the information that ARS had sent the loan back, the rep opened a ticket to have it sent back to ARS so I could pay it off. This happened on 2/17.

I have had a GM card for 30 years. Recently, Marcus/Goldman Sachs acquired it from Capital 1. When it came time to pay my monthly bill they were impossible to reach. Their website kept frustratingly shutting down before I could set up their account. The phone # they use had an estimated wait time of 30 minutes. I waited longer than that once but gave up after several tries. I tried contacting them on Facebook but no luck. Thank goodness I did not have a serious problem with my card. As it is I am late in paying the bill. I will see how this plays out and repost in one month.

Goldman Sachs Marcus offered a promotional bonus of $100 for customers who deposited an amount of $10,000 to an existing Marcus Savings account. For a period of 90 days thereafter the account balance had to be maintained at that amount. Having met that requirement, and after the 90 day period without having received the bonus I questioned why I never received it and was told that I was ineligible because, based on a technicality, it didn’t meet the qualifications. The technicality was related to a question discussed with a customer service person prior to my applying for the promo, which by admission of a Marcus supervisor, was not decidedly answered, leaving it vague. It appears that proof of the terms that deem the offer ineligible are not available.

Great Loan and Excellent Client Services. I needed to consolidate my high interest credit cards as my monthly payments never seemed to lower my balances much. I had never done this before and a friend referred me to Marcus Goldman. My loan was able to pay off three accounts in full and pay off a large chuck of other balances that were haunting me every month. My one monthly payment along with not using these credit cards has made my credit score go from good to excellent in seven months!