Consumer complaint received 2020-06-04 00:00:00
Product: Credit reporting, credit repair services, or other personal consumer reports — Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem — Problem with personal statement of dispute
Company: GOLDMAN SACHS BANK USA
State: NY

Complaint narrative:
To whom it may concern, Just to establish the context of my dispute, its imperative to note how the COVID-19 effected my job status which then negatively effected my credit. During the initial phases of COVID-19 in the month of XXXX, the management team at my job at XXXX, had alerted all XXXX Managers in a conference call about a pandemic that was going to affect our market and possibly hurt sales. During the months of XXXX, upper management had alerted all Managers to be extremely vigilant of any vital signs or symptoms of the coronavirus within the team and if anything we were encouraged to stay home. Towards the end of XXXX, New York State had mandated all Non Essential stores be shut down and that was when I was out of a job as a Store XXXX at XXXX. My income had immediately come to a halt and unfortunately still have dependents that I personally still have to take care of including paying the rent, electricity bills, phone bills, car bills, utilities, cable bills, groceries etc. After my store had shut down, like many Americans, I was in dire financial hardship and needed extreme financial assistance immediately. The one credit card I was living off of was my Apple Card issued through Goldman Sachs. Never was I late on a payment and always had my credit utilization under control. With limited means of resources and no income along with major obligations to fulfill, it was the one asset I could use. Although I was utilizing the available credit on the card, it is IMPOSSIBLE for me to pay down my credit so my credit utilization could be 10-30 % which it usually is. My available credit at the time was {$1000.00} and the amount of credit used was north of {$900.00}. It was nearly impossible to fund any available funds to pay {$900.00} down. On the same day I found out that my store was going to shut down, I had contacted Apple Card Customer Service ( XXXX ) to see how Apple Card was going to send my data to the credit bureaus about me not paying down my credit even if I pay my bills on time but still having a high credit utilization. The Apple Card Specialist advised me to wait and see if they do report negatively because the belief was that the CARES ACT would pass which it did but the prevention of reporting negatively to the credit bureaus did not. I'm in extreme dire financial hardship due to this unforeseen COVID-19 pandemic and it's extremely hard to position my finances to cover costs that I personally did not know I was going to have to cover immediately. Due to the use of my Apple Credit Card, my credit dropped roughly -54 points on my Transunion report. On XX/XX/2020, I had called Apple Card Specialist and confronted them about my dire economic hardships and disputed that negative report. After a couple weeks, the dispute was denied because they claimed the information was accurate however, the information is incomplete. It is boarder line fraud and extremely misleading when an Apple Card Specialist notifies me to " wait and see '' if my credit will be negatively reported instead of giving me the proper necessary information where I did not have to max out my card. A misinformed Apple Card Specialist caused my credit to drop -54 points and does not fully represent my creditworthiness which is total fraud. I know this statement will provide a deep clarification to my situation and how I was swindled out of a good credit rating.

Company response to consumer: Closed with explanation