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Established Contributor
laboi_22
Posts: 634
Registered: ‎07-07-2011
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Macy's Approval but confused

So I'm at Macy's today to purchase a gift for someone. Of course I wanted the 20% off. Ok maybe I just really wanted a Macy's card (LOL). So they asked me to apply. I did. Approved. I wasn't sure I would get approved since I have a ton of inquries. I also know that the decrease in AAOA sucks for FICO purposes but I did it. They can't tell me what my limit was. It approved my $192 purchase but I paid the bill in full at the register right after she charged my account. When I called they said the don't issue traditional credit lines. So how do I know how much I can spend?

 

Was the Macy's card really worth it? Are there any special benefits besides the inital 20% off? Did I waste a HP? To me it will be a hassel trying to figure out what my CL is and how much I can spend at the store. I need simplicity!!

Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??

Current Cards: Chase Freedom $5,000, CSP $5,700, BofA Visa Signature $15,000, AMEX BCE $6,000, Walmart $4,150, Gap Visa $10,000, JC Penny $5,800, Lowes $8,500, Dillard's AMEX $8,000, AMEX Hilton HHonors - $2,000, Chase United $12,000, Citi AAdvantage & Simplicity $6,000/$6,000, SPG AMEX $1,000
Epic Contributor
Creditaddict
Posts: 21,008
Registered: ‎10-23-2007
0

Re: Macy's Approval but confused

You get Guidelines not Credit Lines with Macy's... Once you get your card call the automated system and it should give you available for spending.

Otherwise just hang tight until early next year and we should be seeing the Lines coming back and reporting to credit again.

 

If you shop at Macy's much it's a fabulous card, they constantly have additional 15-25% in addition to whatever the sale is for that item just for putting the charge on Macys Card.  Did you click to only consider me for Store Card or do you know if you got the Amex too or just the store?

Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 686 Prosper(10-30-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Macy's Approval but confused


laboi_22 wrote:

So I'm at Macy's today to purchase a gift for someone. Of course I wanted the 20% off. Ok maybe I just really wanted a Macy's card (LOL). So they asked me to apply. I did. Approved. I wasn't sure I would get approved since I have a ton of inquries. I also know that the decrease in AAOA sucks for FICO purposes but I did it. They can't tell me what my limit was. It approved my $192 purchase but I paid the bill in full at the register right after she charged my account. When I called they said the don't issue traditional credit lines. So how do I know how much I can spend?

 

Was the Macy's card really worth it? Are there any special benefits besides the inital 20% off? Did I waste a HP? To me it will be a hassel trying to figure out what my CL is and how much I can spend at the store. I need simplicity!!


Depends if you shop at Macy's alot. It is true they do now issue you a hard limit but from what i've heard recently that should be changing soon.




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Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
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Established Contributor
laboi_22
Posts: 634
Registered: ‎07-07-2011
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Re: Macy's Approval but confused

I got the Macy's store card not the AMEX version. I just called. The call was strange. The rep said they don't have traditional Credit Lines. She said I currently can spend $408 (isn't that strange)? With a balance of $192 even though I PIF that at the store. Oh well. I'll roll with it!

 

I just hope AMEX (my Zync card) and my other cards don't get mad at me for the new inquiry and the new account. I know these cards can be sensitive with that sometimes. Hope I don't have any probelms just because I got suckered into a Macy's card LOL

 

PS I do shop at Macy's alot

Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??

Current Cards: Chase Freedom $5,000, CSP $5,700, BofA Visa Signature $15,000, AMEX BCE $6,000, Walmart $4,150, Gap Visa $10,000, JC Penny $5,800, Lowes $8,500, Dillard's AMEX $8,000, AMEX Hilton HHonors - $2,000, Chase United $12,000, Citi AAdvantage & Simplicity $6,000/$6,000, SPG AMEX $1,000
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Creditaddict
Posts: 21,008
Registered: ‎10-23-2007
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Re: Macy's Approval but confused


laboi_22 wrote:

I got the Macy's store card not the AMEX version. I just called. The call was strange. The rep said they don't have traditional Credit Lines. She said I currently can spend $408 (isn't that strange)? With a balance of $192 even though I PIF that at the store. Oh well. I'll roll with it!

 

I just hope AMEX (my Zync card) and my other cards don't get mad at me for the new inquiry and the new account. I know these cards can be sensitive with that sometimes. Hope I don't have any probelms just because I got suckered into a Macy's card LOL

 

PS I do shop at Macy's alot


So you were given an $600 CL... Macys is very slow to update payments. They will increase pretty quickly and be sure to call in every 6 months to request also.

Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 686 Prosper(10-30-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:
Established Contributor
laboi_22
Posts: 634
Registered: ‎07-07-2011
0

Re: Macy's Approval but confused

So it is an actual limit of 600? I didn't understand what she meant because she said that they don't call it a credit limit. The amount may change month to month. Ok so I'll just stick with a CL of 600 and that's good enough for me!! Thanks,

Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??

Current Cards: Chase Freedom $5,000, CSP $5,700, BofA Visa Signature $15,000, AMEX BCE $6,000, Walmart $4,150, Gap Visa $10,000, JC Penny $5,800, Lowes $8,500, Dillard's AMEX $8,000, AMEX Hilton HHonors - $2,000, Chase United $12,000, Citi AAdvantage & Simplicity $6,000/$6,000, SPG AMEX $1,000
Epic Contributor
Creditaddict
Posts: 21,008
Registered: ‎10-23-2007
0

Re: Macy's Approval but confused


laboi_22 wrote:

So it is an actual limit of 600? I didn't understand what she meant because she said that they don't call it a credit limit. The amount may change month to month. Ok so I'll just stick with a CL of 600 and that's good enough for me!! Thanks,


yes if you are using card a lot and paying off they will move you up to couple grand (most likely) before you even get 6 months.

Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 686 Prosper(10-30-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:
Established Contributor
laboi_22
Posts: 634
Registered: ‎07-07-2011
0

Re: Macy's Approval but confused

Awesome. Thanks!!

Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??

Current Cards: Chase Freedom $5,000, CSP $5,700, BofA Visa Signature $15,000, AMEX BCE $6,000, Walmart $4,150, Gap Visa $10,000, JC Penny $5,800, Lowes $8,500, Dillard's AMEX $8,000, AMEX Hilton HHonors - $2,000, Chase United $12,000, Citi AAdvantage & Simplicity $6,000/$6,000, SPG AMEX $1,000
Frequent Contributor
Juan123
Posts: 496
Registered: ‎04-16-2011
0

Re: Macy's Approval but confused

yea i started at $100, jumped to $10k in 6 months..... you get a lot of coupons from macys if you get the gold card which needs $500 of annual spending, or the platinum which is $1000 annual spending and you get a ton more coupons... then the black card with $1500 annual spending and you get a BUTTLOAD of coupons.


Starting Score: 575 (As Of Early 2011)
Current Score: TU: 767 EQ: 732 EX; 742 (As Of Feb 2012)
Goal Score: 750


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Epic Contributor
Creditaddict
Posts: 21,008
Registered: ‎10-23-2007
0

Re: Macy's Approval but confused


Juan123 wrote:

yea i started at $100, jumped to $10k in 6 months..... you get a lot of coupons from macys if you get the gold card which needs $500 of annual spending, or the platinum which is $1000 annual spending and you get a ton more coupons... then the black card with $1500 annual spending and you get a BUTTLOAD of coupons.


It's not the card it use to be that's for sure.

Black Amex Macy's requires just $2500 to get it... back when it was Marshal Fields for me at the time they had 3 tiers, regular card, 4k spending for next level and $6k for highest card level.... I wish all the levels with cards these days actually meant something like Nordstrom, you spend 25k and you get to have a party for like 100 people and CLOSE the store for you!!! that's a real perk

I don't even get free shipping with Macy's anymore!!!

 

and yes tons of rewards but most of them are worthless in imitations, I wish Macy's would consider actually spending the money on giving your customers real perks not millions to put coupons out weekly with 2 things in store not on exceptions!

Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 686 Prosper(10-30-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:

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