10-07-2013 06:52 AM
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?
10-07-2013 08:06 AM - edited 10-07-2013 08:33 AM
10-07-2013 09:35 AM
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.
10-07-2013 10:31 AM
really? So it shows as two tradelines from then on rather than one? That is really cool, though could bring down AAoA I guess..
10-07-2013 10:46 AM
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?
10-07-2013 11:00 AM
10-07-2013 11:06 AM
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!
10-07-2013 11:14 AM