Consumer complaint received 2024-10-19
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Other problem
Company: GOLDMAN SACHS BANK USA (NJ)

Dear Consumer Financial Protection Bureau, I am writing to file a formal complaint against Goldman Sachs due to their policy limitations with the Apple Card, which have caused significant negative impacts on my credit score and financial standing. I believe Goldman Sachs should take responsibility for these issues and provide a satisfactory resolution. 

When XXXX first launched, I created an XXXX XXXX using my personal email address for my XXXX  purchases. Later, when XXXX introduced the XXXX, XXXX was launched as a way to sync all your devices, I subscribed and was given a XXXX email, which became a second XXXXXXXX XXXX that was required to sync my devices. Over time, XXXX transitioned from XXXX to XXXX, making XXXX a free service for the public. Throughout these platform changes, I continued using the XXXX XXXX XXXX as my main account, while my purchases remained tied to my original XXXX XXXXXXXX XXXX 

Unfortunately, XXXX has never provided a solution to merge these multiple XXXX XXXX, which has left me in a difficult position. Recently, I subscribed to XXXX XXXX XXXX to share services with my elderly parents, which highlighted the long-standing conflict between my XXXX XXXX XXXX. After extensive time on the phone with XXXX XXXX and multiple visits to the XXXX XXXX, it became clear that merging these accounts was not possible. Therefore, I manually transferred data from my XXXX  account to my original XXXX XXXXXXXX XXXX  in order to preserve my purchases from the past 21 years. 

In order to consolidate everything to XXXX XXXX XXXX, the last step was to transfer my Apple Card from my XXXX XXXX XXXX to my XXXX XXXXXXXX XXXX However, I was informed by Goldman Sachs Apple Card Support that it was not possible due to fraud protection policies. As a result, I was left with two unacceptable options : either I could retain my Apple Card under the XXXX XXXX XXXX and lose access to the purchases I had made since 2003, or I could close my Apple Card account and apply for a new one under my XXXX XXXXXXXX XXXX. 

Unfortunately, I was forced to choose the latter option in order to put everything, once and for all, under XXXX XXXX XXXX, which resulted in a negative impact on my credit score. According to XXXX, my score dropped from XXXX to XXXX, and according to XXXX, it dropped from XXXX to XXXX. Moreover, my credit limit was reduced from {$22000.00} to {$10000.00} as an introductory limit on the new card, despite my excellent payment history with the previous card, where I consistently paid off my balance early every month and never had a late payment. This decline in my credit score is the direct result of closing the Apple Card account, a decision I had no control over due to the policy limitations imposed by Goldman Sachs. 

In light of this situation, I believe Goldman Sachs must take responsibility for the negative impact their policy has had on me. A satisfactory resolution to this issue would include the following steps : 1. Goldman Sachs should provide a letter to each of the three major credit bureausXXXX XXXX XXXX XXXXinforming them that their policy failure forced me to close my Apple Card account against my will and reopen another card which automatically gave me a lesser limit through no fault of my own which caused an unnecessary hit to my credit score and request the restoration of my credit score.

2. Goldman Sachs should provide me with copies of these letters so that I may follow up directly with the credit agencies. 

3. Goldman Sachs should restore my credit limit to the previous {$22000.00}, which was the limit on my original card.

4. Goldman Sachs should make a concerted effort to change their policy so that this issue does not affect other customers in the future. 

I trust that the Consumer Financial Protection Bureau will take this matter seriously and assist in ensuring a fair resolution. I place a high level of importance on maintaining my credit score, and I am deeply concerned that a company would implement a policy that negatively impacts its customers ' credit standing. Such a policy raises serious concerns about the fairness of its practices and the long-term effects on consumer credit health. 

Thank you for your attention to this important matter. 

Sincerely, XXXX XXXX XXXX