Regular Contributor
Posts: 161
Registered: ‎06-17-2007

Re: Macy's CLI Request is it a hard or soft?

[ Edited ]

I also just got the "well, if you give me a ballpark figure" come-on. Here's what happened. I noticed that Macy's wasn't reporting my CL to the bureaus. I checked the forums here. This was supposedly a "glitch" some people experienced in 2007, 2008 or so. I called thinking I'd fallen into the "glitch" category. First operator I spoke with commented that my name was unusual (it really isn't *that* odd or uncommon), then explained that due to "a change in internal business practices" on 3/30, Macy's no longer *had* specific CLs, but that she could offer to check a specific dollar amount if I wanted. I didn't want, as I have some other things going on with my credit report at the moment, and so I asked for clarification: what was the previous practice, why did she want this info, was she going to do a hard pull every time I went to the register, etc. Upshot: yes, based on the new system. I asked for a supervisor.


Here's the supervisor's explanation:


--"It's not like a typical credit card. It's like a flexible spending account." (Um....huh?)

--"We can basically see how much we are able to accommodate your purchase for at the time of sale." (And that would

--"At the point of sale, if it needs to refer in, depending on how much we can do based on your payment history and external credit as well." (WHAT?!...!!!)

--"We don't pull (your credit report) every time, just every three months or so." (Are they really interested in ditching that many small accounts?...)

--"Before, we could issue guidelines." (And you can't now because...?)


I saw higher up in the thread that someone referenced GEMB. Did GEMB take over Macy's card service? I see DSNB is the company. If so, given how they screwed me (and others) on IKEA,


I wonder whether this isn't a sign of a larger pattern: for example, say a credit card bank decided it wants to upgrade its portfolio and is now courting other businesses with independent card services to take on its prime accounts. Or say a credit card bank has had to eat too many defaults and is now trying to cover its losses. We've seen this before, right?... The second consumers got a little legal protection, the predators began coming up with all kinds of weird workarounds, policy exceptions, etc.


Maybe the feds should look into this.


P.S. Upon further research, I think this is how CC companies/banks are trying to get around the universal default ban. It creates a de facto universal default if every CC company does it, or if one company that issues multiple cards on behalf of multiple retailers does it. In other words, the credit card issuers are calling in their chips. What does THAT say about the liquidity of these lenders and (by extension) the economy????????????

Starting Score: 550
Current Score: 673 EQ, 681 TU, 650 EX
Goal Score: 720

Update April 1: TU 615/EQ624
Update June 28: TU 641/EQ 626
Update Sept 21: TU 681, EQ 673, EX 650 (FAKO)
I FINALLY got that car at the rate I wanted! Thanks, FICO Forums!

Take the FICO Fitness Challenge

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+