Macy's Cld...my new cl is...

[WRodPSL]

$100...I got this card in 8/08 with a $200 limit and 3 months later cli to $300. They've said NO to any cli's since then and today I check my statement and the limit was cut to $100 with a $50 balance. After a couple calls to some talking heads who pretty much said that using the card twice in the last two months wasn't enough and if you continue to pay on time...you may qualify for an increase...blah blah blah. After my call getting transferred a few times, I finally got to someone who told me the cld "may be due to outside credit". I know nothing has changed on my reports and my utilization is low so I asked for a supervisor. I was then told that asking for a cli at this point would result in a hard pull and if I didnt qualify for one they could close my account. No thanks...I'll make some small purchases the next couple months and call back at the one year mark.

[Anonymous]

It sounds to me as if you don't need to keep that card. Just sock drawer it as they say. $100 credit line......stop it. You could just pay cash. You can do better.

King

[Anonymous]

I have only heard of this 1 other time.They (Macy's) have seen something on 1 of your reports they didn't like either a score drop or high util or new collections.Macys generally gives cli like clockwork unless they see something they don't like.I wouldn't close the card thou.Hang on and see what happens in the next few months..

[WRodPSL]

It's not even a year old yet and it's my only store card so I don't want to close it just yet. I'll hang on and see what happens when it hits the 1 year mark.

[wmarat]

I hate to post CB link, but this is good info regarding Macy's CLD's.

edited to remove link

Message Edited by llecs on 06-20-2009 08:47 PM

[score_building]

first check your EX.  that is almost certainly where they saw something -new derog, high uti, etc.  if not, they may reinstate if you contact them. macy's is a keeper so you'll do well to hold on and try to revisit your association at the year mark.  i would try to use the card at least once a month/pif or it may be difficult to reestablish that you require a restoral.  you'll get back in with them, they're a good one to work with since they are ultimately very customer oriented and comparatively v. forgiving.

[GST2008]

I would keep it and just keep making small purchases to show activity on it.  Generally, you can request a cli after six months of having the card and then every three months after w/o a hard inquiry.  The more use on it, the higher the guideline they set for you when you call up for the cli.  I've had my Bloomingdale's card for less than two years and have gotten them to raise it to 7900 from 1500 by calling every three months to request an increase.  Normally, the increases are much higher if I've spent considerably on it in the past three months.

[Anonymous]

I just read an article on MSN that Macy's has the worst store card.  I wonder how much Nordstrom or Bloomingdale's paid the journalist. 

[Anonymous]

You sure Target didnt pay the journalist....

[slarano]

paying cash is a sucker's dilemma at Macy's. there are so many discounts connected to having the card, might as well not shop at Macy's if you don't have a card, because you'll essentially just be giving yourself a bad deal everytime. just use it when you need to shop to utilize the cardholder only coupons, then pay in cash right at the register right after the initial transaction. you'll have activity on your card, pay in full everytime, and every 3-6 months your CL will increase.