Macy's Is still giving!

[MrShush]

I called them about 6 weeks ago or so and asked them their policy on GLI and customer initiated CLI's and the rep told me their policy is 6 months for GLI and I'd be eligible in July (this month) for an increase. I didn't want one since my limit is pretty high for what I use it for. Typically, I only carry a balance for a few weeks, but I was curious why no activity.

[creditwherecreditisdue]

When you want something from Macy's you are best served to call and ask for it (when it is time). Waiting is a dicey proposition. Most of the time you will leave available credit on the table by waiting for them to award it to you immaculately. I requested my way up from $600 to $3.7K. I figured that was pretty good (certainly relative to my purchases) so I stopped asking. Six months later they offered my the Macy's Visa add-on. I would keep asking for a GLI every chance you can (particularly now that it is once every six months) until north of $3.5K at the least or higher of you have the usage to justify it.

[Anonymous]

  After reading this I opened online a new store card for Macy's last month used and pif 2x and was feeling bored tonight so I tried for a cli. Account opened about 5 weeks ago with a 500 limit online. Tonight it was increased to 1,200 a strange number but it works for me since my daughters shop there monthly and with the card they get all kinds of discounts in the mail so it will work out OK. No one buys items they cannot afford or need/want and it gets pif a week after use so I think the amount will be OK and in 6 months hopefully be sitting around 2,000 since they report the amount used to the CRA's within a few days unless it is just my kids timing of use!

[crosbyk1]

Congratulations! Nice GLI for a very new card.

[creditwherecreditisdue]

They report increasing balances almost instantly. They report decreasing balances once a month, right after the statement cuts.

[Anonymous]

   Yikes! How do I figure out when to pay in regards to when they shop? WIth my limit of 1,200 now if they spend 500 on a weekend and they report it would that hurt overall score? That would not make much difference unless I am applying for something or trying to get a cli I would think?  I don't think the score makes much of a difference until you are applying for something I just know from years of applying for some pretty big items that when your score is high they just bring you a pen instead of more forms to fill out.

    Now I have gotten so freaky about this score thing I told all my kids if and when they marry the partner has to have a 750 score before! So if it is low they will need "some time" to get the score up! My daughter who makes huge money and has a weak score (cannot figure out why) is dating a well to do guy who has a  825 Fico and the Metal card from AMEX so this taught me something. A smart pretty girl who makes lots of money is impressed with that metal credit card (even though she says she is not). She wanted me to get it so she could get one as an AU haha she funny girl!

Me funny daddy but would never pay or qualify for I am sure a metal credit card! So guys lesson here is you can be mediocre looking and still attract great girls if you get the crazy credit cards. I just want one with Bugs Bunny on it!

[creditwherecreditisdue]

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@Anonymous wrote:

   Yikes! How do I figure out when to pay in regards to when they shop? WIth my limit of 1,200 now if they spend 500 on a weekend and they report it would that hurt overall score? That would not make much difference unless I am applying for something or trying to get a cli I would think?  I don't think the score makes much of a difference until you are applying for something I just know from years of applying for some pretty big items that when your score is high they just bring you a pen instead of more forms to fill out.

    Now I have gotten so freaky about this score thing I told all my kids if and when they marry the partner has to have a 750 score before! So if it is low they will need "some time" to get the score up! My daughter who makes huge money and has a weak score (cannot figure out why) is dating a well to do guy who has a  825 Fico and the Metal card from AMEX so this taught me something. A smart pretty girl who makes lots of money is impressed with that metal credit card (even though she says she is not). She wanted me to get it so she could get one as an AU haha she funny girl!

Me funny daddy but would never pay or qualify for I am sure a metal credit card! So guys lesson here is you can be mediocre looking and still attract great girls if you get the crazy credit cards. I just want one with Bugs Bunny on it!

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1) A Macy's store card does not lend itself well to FICO score micromanagement. A nice CL to show on your CBR's yes, that no.

2) NYC and South Florida are the only places on earth where parties check the credit standings of persons they are dating. Too sad for words. It was a standing joke decades ago when I was (ew!) in the dating scene in NYC. There is a wafer thin line between prudence and gold digging. Whatever happened to having a good time?

[MrShush]

True; within a few days I get a Score Watch aler from EQ saying that my $46 balance is a 2500% increase and my score takes a hit for 5 or so points. That is frustrating.

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@creditwherecreditisdue wrote:
They report increasing balances almost instantly. They report decreasing balances once a month, right after the statement cuts.

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Message Edited by MrShush on 07-08-2009 05:19 AM