Apple Card Goldman Sachs late crediting my card with my payment

[jimkingwood]

Anyone else experience Goldman Sachs being late to credit payments to their account? I made my first payment to pay off the balance of my Apple card on June 28 but, surprisingly, my Apple Card was getting rejected on the 2nd of July. I paid direct from my checking account, and for my other card payments - American Express, Discover - they are credited usually within 8 working hours.

Goldman Sachs told me on the 5th that they had received the payment but that my account would not be credited with the payment- which I had made directly from my checking account- until July 7th (!?!). Thats's a 10-day hold on a cash payment!!

Definitely something fishy going on with Goldman Sachs, folks. I asked them why they are sitting on the float for a full 11 days but they had no answer.

I told them that this was preposterous service and canceled my card. In my opinion, the Apple card as serviced by GS is not usable. Not for a high volume user such as myself. I don't need legitimate transactions denied by a credit card service.

Normally, when banks sit on floats for extended periods of time, it is indicative of liquidity problems with the bank. Wassup in your house, G-Sachs??

 

[0128672]

I agree something sounds really off with GS there. You paid on Monday 6/28 and they're not crediting it until Wednesday 7/7. Yeah, that's pretty bad. Did it have anything to do with the holiday weekend? On what date were the funds withdrawn from your checking?

 

[Apple_Robert]

My payments usually post in 2 - 3 days, although the typical disclaimer is also posted that it can take up to 5 days etc. which I haven't experienced.

I don't agree with the practice either but, I think GS is doing it to make sure they get the funds from the bank and don't credit someone right away to find out that there is a problem with the account. Given the issuer is GS, this type of behavior is not surprising.

I thought about getting the fancy Apple Card when it was available but, I decided after reading more and more about forum member's experiences with Apple and GS with the card, that it wasn't for me. I don't need the headaches or to be treated in a manner as many have been treated with customer no service.

 

[jimkingwood]

I agree something sounds really off with GS there. You paid on Monday 6/28 and they're not crediting it until Wednesday 7/7. Yeah, that's pretty bad. Did it have anything to do with the holiday weekend? On what date were the funds withdrawn from your checking?

I verified online that the checking account deduction was made on the 28th. Chase Bank.

 

[jimkingwood]

My payments usually post in 2 - 3 days, although the typical disclaimer is also posted that it can take up to 5 days etc. which I haven't experienced.

I don't agree with the practice either but, I think GS is doing it to make sure they get the funds from the bank and don't credit someone right away to find out that there is a problem with the account. Given the issuer is GS, this type of behavior is not surprising.

I thought about getting the fancy Apple Card when it was available but, I decided after reading more and more about forum member's experiences with Apple and GS with the card, that it wasn't for me. I don't need the headaches or to be treated in a manner as many have been treated with customer no service.

I made the payment on the 28th right in apple wallet on my iPhone- it let's you set up a checking account as payment method- and I verified the deduction from my Chase account was on the 28th. They told me today- the 5th- that the credit to the card will be made on the 7th. I told the call taker- who sounded like a competent, seasoned professional business guy- that process is too slow and a showstopper and closed the account. They had given me a really low credit ceiling for my credit history and income level anyway. The card was just not useful for me.