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Marcus by Goldman Sachs Personal Loans: 2019 Review

May 28, 2019
Loans, Personal Loans, Personal Loans Reviews
At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.
5.0 NerdWallet rating

Good for: Fair to good credit, debt consolidation

Marcus is an online lender owned by Goldman Sachs that makes debt consolidation loans to those with fair to good credit scores.

Marcus may be a good fit if:

  • You have a fair credit score. More than 80% of borrowers had credit scores greater than 660 as of December 2018, according to Goldman Sachs’ latest annual report. Fair credit scores are those that range from 630 to 689.
  • You’re consolidating debt. Marcus sends loan funds directly to your creditors, improving your chances of successfully paying down debt. Funds can be sent to up to 10 credit cards and a bank account.
  • You want flexible loan terms. Marcus loans span 36 to 72 months, but the lender offers loan terms between those limits.

Marcus loans terms and rates

Loan amounts$3,500 - $40,000
Typical APR5.99% - 28.99%
For NY residents: 5.99% - 24.99%
Time to funding1 - 4 business days
RepaymentsMonthly over 36 to 72 months. After 12 consecutive monthly payments, borrower can choose to skip a payment with no repercussions.
Soft credit check?Yes
How to qualify
  • At least 18 years old (19 in Alabama; 21 in Mississippi and Puerto Rico).
  • Valid U.S. bank account, Social Security number or tax ID.
  • 660+ credit score.
Best forBorrowers with good or excellent credit, debt consolidation
Click "Check rates" to get started with Marcus.

» MORE: Best loans for debt consolidation

Marcus personal loan review

To review Marcus, NerdWallet collected more than 30 data points from the lender, interviewed company executives and compared the lender with others that seek the same customer or offer a similar personal loan product. Loan terms and fees may vary by state.

Marcus is investment bank Goldman Sachs’ foray into consumer banking and lending. Loans are commonly used to consolidate debt, but you can borrow money for any purpose.

Best of 2019: NerdWallet recognized Marcus among our list of Best Personal Loans of 2019 in the categories of good credit, debt consolidation and home improvement.

» MOREPersonal loans for good credit

No fees: The lender says it doesn’t charge any fees, not even origination fees or late fees for missed payments.

Loan flexibility: Marcus lets potential borrowers choose a monthly payment amount and loan term on its website. Once you pick the numbers that suit your budget, the lender tries to design a loan that matches your preferences, provided you qualify for a loan. Marcus also lets borrowers change their due date up to three times during the life of the loan.

Financial tools: Marcus offers tools to track your credit score and pay down debt with your loan.

Skip a payment: After 12 months of making on-time payments, a borrower can skip one loan payment. The loan term is simply extended by one month without additional interest charges.

Customer support: Marcus has U.S.-based loan specialists who provide customer support seven days a week.

Loan example: For a borrower with good credit, a $20,000 personal loan with a repayment term of 48 months at 18% APR would carry a monthly payment of $587, according to NerdWallet’s personal loan calculator.

» MORE: Marcus banking review

How Marcus compares


5.99% - 28.99%

Min credit score


Best for

Flexible loan terms


6.99% - 18.24%

Min credit credit score


Best for

Borrowers with little credit history


5.99% - 29.99%

Min credit score


Best for

Good personal credit

Click “Check Rate” to pre-qualify and receive a personalized rate from multiple lenders on NerdWallet.

If you’re looking for a lender that focuses on your overall financial stability instead of credit score, Earnest considers applicants who have a regular source of income and low debt.

FreedomPlus is another alternative if you have a good credit score. The lender allows you to include a co-signer on a personal loan, which could help you qualify for a lower interest rate.

» MORE: Top banks offering personal loans

How to apply for a Marcus loan

You can fill out an application on the Marcus website and choose the loan term and monthly payment amount that you prefer. Marcus conducts a soft credit check with credit bureau TransUnion to see if you qualify for a loan.

NerdWallet recommends comparing loans to find the best rate for you. Click the button below to pre-qualify and receive a personalized rate from multiple lenders on NerdWallet.


Before you shop for a personal loan:

NerdWallet’s ratings for personal loans award points to lenders that offer consumer-friendly features, including: soft credit checks, no fees, transparency of loan rates and terms, flexible payment options, accessible customer service, reporting of payments to credit bureaus, and financial education. We also consider the number of complaints filed with agencies like the Consumer Financial Protection Bureau. This methodology applies only to lenders that cap interest rates at 36%, the maximum rate financial experts and consumer advocates agree is the acceptable limit for a loan to be affordable. NerdWallet does not receive compensation of any sort for our reviews. Read our editorial guidelines.

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