Whether you’re eighteen or eighty-three, you’ve probably come to the realization that sometimes things in life just, well, happen.
In a time when consumers are forking over big bucks for “experiences” and must-have purchases in an effort to abide by the “live for now” mentality, savings accounts are nowhere near as bountiful as they once were for younger earners and consumers.
Because though you can budget and plan for that dream vacation or new car, you can’t exactly predict events like breaking your arm during an after-work intramural game (those things get intense, don’t roll your eyes!) or a roommate breaking your lease and leaving you with double the rent for an undisclosed period of time.
That’s why so many Americans turn to credit cards for purchases and payments that are out of budget — Which is also why nearly 38 percent of creditworthy Americans are struggling with credit card debt, according to data from Marcus by Goldman Sachs.
Goldman CEO LLoyd Blankfein:
Life happens, but that doesn’t mean that debt has to happen — and that’s what Marcus by Goldman Sachs is aiming to show through its online lending platform.
The idea of taking out or applying for a loan can seem like a lengthy, complicated process, especially for younger millennials who are handling their own finances for the very first time.
Marcus offers fixed-rate, no fee personal loans to those with good credit scores (660+).
And yes, you read that correctly — no fees at all.
In fact, Marcus is so dedicated to emphasizing it’s “no-fee” policy that the company has even created an entire campaign surrounding the feature called “Don’t Get Fee-d”.
Watch the witty ‘Don’t Get Fee’d’ video here:
The video depicts unsuspecting customers purchasing slices of pizza, only to find the cashier taking a bite out of their slice and declaring his bite a “fee”, ensuing volatile, cringeworthy and absolutely hilarious reactions from the customers.
But what the new campaign drives home is the idea that a loan is not really a loan when a fee is attached to it — no matter how much you’re being lent, your bank is still taking a lump sum out of it in the form of fees.
A complete game-changer in the world of personal loans, Marcus factors out the typically unapproachable and intimidating nature of applying for a loan by offering a streamlined, transparent approach that’s easy to understand regardless of where you fall on the financial spectrum.
Loan options through Marcus range from $3,500 to $30,000, with payment terms extending from 36 to 72 months.
And much like it’s easy-to-remember, casual first name implies (named after Goldman Sachs founder Marcus Goldman), Marcus really is the equivalent of that reliable, good friend of yours that spots you money for something because he knows you’ll pay him back — no strings attached.
And if you ask us, that’s how all loans should be.
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