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mdieter1982
Posts: 31
Registered: ‎11-07-2010
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Macy's American Express App

Hello all - I've had the Red Star Rewards Macy's card for 13 years and decided to go ahead with applying for a Macy's Am Ex. After applying over the phone, the representative said that my account was "keyed" for further review and it could take up to 2 weeks-month for a decision. Has anyone here ever received that? Good or bad?

 

Thanks

Frequent Contributor
mnavas
Posts: 408
Registered: ‎02-04-2013
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Re: Macy's American Express App

[ Edited ]
As far as i know Macys doesn't give you an instant desicion when you request the upgrade (store ->Amex version) They say it can take up to 2 billing cycles to give you answer but in reality it's like 3-7 days to know the outcome (your app is reviewed manually so it depends on how busy they are reviewing apps) The best way to know if you have been approved is to check your online profile, your card picture on account summary is going to look like the Amex one when a desicion is made or it'll remain the same (store card pic) if you've been denied and you'll recieve a letter in the mail telling you why... Keep in mind you might get a HP on EXP and you also need a 700 + FICO to get an approval and you'll get a new tradeline (AMEX/DSNB) on your reports
Established Contributor
emptypockets
Posts: 999
Registered: ‎02-03-2009
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Re: Macy's American Express App


mnavas wrote:
They say it can take up to 2 billing cycles to give you answer but in reality it's like 3-7 days to know the outcome (your app is reviewed manually so it depends on how busy they are reviewing apps) The best way to know if you have been approved is to check your online profile, your card picture on account summary is going to look like the Amex one when a desicion is made or it'll remain the same (store card pic) if you've been denied and you'll recieve a letter in the mail telling you why... Keep in mind you might get a HP on EXP and you also need a 700 + FICO to get an approval and you'll get a new tradeline (AMEX/DSNB) on your reports

+1. This is what happened for me. No HP either. Please note: It IS NOT an upgrade, the AMEX will show as a whole new account (with a October 2013 opening date) and you will maintain your regular Macy's Account as well.


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Current Scores: EQ (6/14): 800; TU MyFico (6/14): 814; Walmart TU Fico 08 (10/2014): 813; EX (6/14): 775
Regular Contributor
loviedovie
Posts: 206
Registered: ‎12-20-2012
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Re: Macy's American Express App

Emptypockets-

 

really? So it shows as two tradelines from then on rather than one? That is really cool, though could bring down AAoA I guess..


Starting Score: EXP 615 | TU 610 | EQ 635
Current Score: EXP 719 (lender pull 10/15) | TU 707 | EQ 700 (lender pull 10/25)
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Moderator
09Lexie
Posts: 26,349
Registered: ‎09-13-2012
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Re: Macy's American Express App

Not only does it show as two trade lines but the billing cycles are usually different.
Regular Contributor
loviedovie
Posts: 206
Registered: ‎12-20-2012
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Re: Macy's American Express App

Lexie- 

really? How does that work in terms of... like if you make your payment on time as far as one of the cycles is concerned, but the other cycle is accumulating interest differently due to the timing.. wouldn't you end up with two differen balances for the same card?


Starting Score: EXP 615 | TU 610 | EQ 635
Current Score: EXP 719 (lender pull 10/15) | TU 707 | EQ 700 (lender pull 10/25)
Goal Score: 740
Moderator
09Lexie
Posts: 26,349
Registered: ‎09-13-2012
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Re: Macy's American Express App

Keep in mind they are two different accounts, different limits, different aprs etc. You can charge on the store card without it going onto your Amex account and vice versa.
Regular Contributor
loviedovie
Posts: 206
Registered: ‎12-20-2012
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Re: Macy's American Express App

Lexie-

 

Ahh I see... so what would be the advantage of applying for Amex through Macy's vs. just a straight AMEX card?  There is so much to learn about credit! :smileyhappy:


Starting Score: EXP 615 | TU 610 | EQ 635
Current Score: EXP 719 (lender pull 10/15) | TU 707 | EQ 700 (lender pull 10/25)
Goal Score: 740
Moderator
09Lexie
Posts: 26,349
Registered: ‎09-13-2012
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Re: Macy's American Express App

The Macys Amex is backed by DSNB and not Centurion Bank which issues American Express Cards. You will not receive the ability to 'backdate' future Amex Cards, you will not have the ability to apply for additional Amex Cards with a SP if declined and a HP if approved.

The Macys Amex is credit card that merely uses the Amex payment network.

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