Approval odds for Macy's card

[codesingh]

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@FinStar wrote:

Macy's is just like any other lender.  It is backed by DSNB (a Citi affiliate).  No one will be able to give you specifics since only Macy's/DSNB knows the criteria for approval.  If you want the most optimal opportunity for an approval, your FICO scores would need to hover north of 700, a relatively clean profile (no major recent derogs), a minimum number of inquiries as possible and low utililization.  This also would depend if you are applying for the store or the AMEX version.

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FinStar: Thanks for the info...Citi doesn't like me for some reason. I have an account with them but still...they probably don't like because they are inq. sensitive?

Anywho...do you think DSNB will have anything to do with how Citi like or doesn't like me? How does an affiliate bank work in ragards to the bigger bank it is related to? How does the subsidiary bank work... in terms of looking at the credit application?

[codesingh]

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@navyox wrote:

In my opnion the worst that will happen is you get a approved with a tiny CL.   Definitely apply in-store though, you get extra % off everything the day you open the account, so make it count IMO.

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navyox - Thanks!

Well..if the reason for me to app in store for the card is going to be for the purchase(and hence the 20% extra) of over 700% item, could guess-tell me how that would affect approval of my in-store application since a tiny CL at their descretion may not help the transaction on hold at the register...

[codesingh]

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@mnavas wrote:
Since you have many inquiries and new accs, you're most likely going to get approved for the store version card... To increase your approval chances and have a good CL... Apply in the store while you're shopping... oh and for jewlery they have some financing options but you need to spend certain amount of money and they'll also create another new tradeline for this purpose (Club account)

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Thank you mnavas: So if I go with their financing option, I may be better chance of approval or it doesn't matter. I don't care about whether it is store or amex card, I just would like to take advantage of extra 20% off on high $ amount for account opening. Financing application vs. plain application...?

[FinStar]

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@codesingh wrote:

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@FinStar wrote:

Macy's is just like any other lender.  It is backed by DSNB (a Citi affiliate).  No one will be able to give you specifics since only Macy's/DSNB knows the criteria for approval.  If you want the most optimal opportunity for an approval, your FICO scores would need to hover north of 700, a relatively clean profile (no major recent derogs), a minimum number of inquiries as possible and low utililization.  This also would depend if you are applying for the store or the AMEX version.

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FinStar: Thanks for the info...Citi doesn't like me for some reason. I have an account with them but still...they probably don't like because they are inq. sensitive?

Anywho...do you think DSNB will have anything to do with how Citi like or doesn't like me? How does an affiliate bank work in ragards to the bigger bank it is related to? How does the subsidiary bank work... in terms of looking at the credit application?

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AFAIK, Citi in it of itself would not have any direct influence since DSNB is the actual underwriter for the Macy's and Bloomingdale's card programs.  Potentially, the issue you may run into (if approved > low CL), is the slew of new accounts recently opened/number if inquiries.  However, barring that aside, if your CR files are thick enough to absorb all the inquiry impacts including the reduced AAoA, then you can potentially give it a shot and see.  But, don't apply online - apply in-store instead and try for the AMEX version when prompted.