Macy's combined credit limits. maybe

[sarux3]

Well, I just spent nearly an hour on the phone with a very helpful Macy's credit rep in an attempt to get to the bottom of all this nonsense.  After a thorough back-n-forth discussion and being put on hold a few times so she could speak with various managers, she was able to confirm the following information to me:

• The full credit limits -- not just the balances -- of all account types EXCEPT FOR the Amex line and the Major Purchases account type are being merged.  In my personal example, my $2100 revolving, $6100 special events, and $10k club accounts will combine into a total $18200 line that will be reported to CCBs in full, along with the sum of balances across those types.
• HOWEVER, from an internally functional perspective, the single account will still be partitioned according to the original account types.  So when you get your post-merger statement, you will see your balance split out into the various promotional types that you may have.  That means that the total line cannot be used however you like, but it will function the way it currently does.  In my example, if I wanted to buy a $12k piece of jewelry, I could only use up to $10k from my Macy's card since that was the internal limit for Club-type purchases.  Likewise, I couldn't do $3k in general spend since my internal revolving limit is still $2100.
• The Major Purchases account type is NOT being merged, with the exception of balances currently on that account type.  I was told the reason is because its redundant to the revolving type.  But this is the only account type being treated like that... so if you opened an MP account in anticipation of the merger, you'll lose the full line unless you made a purchase on that account, in which case the balance will be merged and the merged limit will be increased by that same amount.
• There is a caveat to the special events and club accounts being merged -- you have to have used those accounts within the past 24 months prior to the merger date.  In my personal example, the $10k club account that I opened last month will go away unless I make a purchase to that account before the merger... but then the FULL line will also be merged along with that balance.  Looks like I'm going watch shopping this weekend...  But that also means that, if you have a club account or special events account with $0 balance that you had used within the past 24 months, you don't have to rush out to make a purchase before the merger occurs in order to retain thost credit limits.
• As you know, the club account currently reports to CCBs as a separate line.  After the merger, I was told that the club account line item on the CR will report as being "transferred", and then the merged account line item will show the full merged account, along with the full merged balance.

I sure as heck hope that's all there is to it. 

[Anomalous]

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@sarux3 wrote:

Well, I just spent nearly an hour on the phone with a very helpful Macy's credit rep in an attempt to get to the bottom of all this nonsense.  After a thorough back-n-forth discussion and being put on hold a few times so she could speak with various managers, she was able to confirm the following information to me:

• The full credit limits -- not just the balances -- of all account types EXCEPT FOR the Amex line and the Major Purchases account type are being merged.  In my personal example, my $2100 revolving, $6100 special events, and $10k club accounts will combine into a total $18200 line that will be reported to CCBs in full, along with the sum of balances across those types.
• HOWEVER, from an internally functional perspective, the single account will still be partitioned according to the original account types.  So when you get your post-merger statement, you will see your balance split out into the various promotional types that you may have.  That means that the total line cannot be used however you like, but it will function the way it currently does.  In my example, if I wanted to buy a $12k piece of jewelry, I could only use up to $10k from my Macy's card since that was the internal limit for Club-type purchases.  Likewise, I couldn't do $3k in general spend since my internal revolving limit is still $2100.
• The Major Purchases account type is NOT being merged, with the exception of balances currently on that account type.  I was told the reason is because its redundant to the revolving type.  But this is the only account type being treated like that... so if you opened an MP account in anticipation of the merger, you'll lose the full line unless you made a purchase on that account, in which case the balance will be merged and the merged limit will be increased by that same amount.
• There is a caveat to the special events and club accounts being merged -- you have to have used those accounts within the past 24 months prior to the merger date.  In my personal example, the $10k club account that I opened last month will go away unless I make a purchase to that account before the merger... but then the FULL line will also be merged along with that balance.  Looks like I'm going watch shopping this weekend...  But that also means that, if you have a club account or special events account with $0 balance that you had used within the past 24 months, you don't have to rush out to make a purchase before the merger occurs in order to retain thost credit limits.
• As you know, the club account currently reports to CCBs as a separate line.  After the merger, I was told that the club account line item on the CR will report as being "transferred", and then the merged account line item will show the full merged account, along with the full merged balance.

I sure as heck hope that's all there is to it. 

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Now that response seems more thorough and promising. Really wanted my entire Macy's club and special event line to merge for untilization reasons, so that's great that they will. My major purchase account with Bloomingdale's is another story, but my balance is fairly low. Thanks for sharing!

[pip3man]

And now I was told once the merger occurs the previous trade lines will be outright deleted and not just reporting as closed/transferred. This is so inconsistent, guess we'll just watch and see how it all plays out.

[MartinScott]

 I have never used my special event account since opening it last fall.  I don't want to lose the $5k limit that might rollover.... Is it only for furniture and mattresses purchases or could I put a kitchen/home purchase on it like a coffee maker?  Not looking to go out and buy a $2000 couch just to save the line from being deleted in the merge lol.

[orestrus]

Thanks for a great info!!! So what can we buy on special events account?? Also, just want to confirm-merger will take place at the end of August?)

[sarux3]

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@MartinScott wrote:

 I have never used my special event account since opening it last fall.  I don't want to lose the $5k limit that might rollover.... Is it only for furniture and mattresses purchases or could I put a kitchen/home purchase on it like a coffee maker?  Not looking to go out and buy a $2000 couch just to save the line from being deleted in the merge lol.

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From what I can tell, special event account is used only for, well, special events.  Those are typically done only for furniture, mattresses, and fine jewelry at certain times in the year.  You're in luck though, I saw they are running a 4th of July event right now on furniture/mattresses where you only have to make a minimum $499 purchase, so you wouldn't have to make a very large purchase to keep the account active in time for the merger.

[orestrus]

Sarux, did they say anything about minimum amount of purchase on club account to keep it ?;(

[sarux3]

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@orestrus wrote:
Sarux, did they say anything about minimum amount of purchase on club account to keep it ?;(

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It's $500 minimum for jewelry to pay with the club account.  I had a CSR tell me last month that you can also use the club for china/silverware at minimum $200 purchase, but I would double-check with them about that.  My rep roday confirmed the $500 for jewelry with her manager, and that qualification stays after the merger, as well.

[SunriseEarth]

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@sarux3 wrote:

Well, I just spent nearly an hour on the phone with a very helpful Macy's credit rep in an attempt to get to the bottom of all this nonsense.  After a thorough back-n-forth discussion and being put on hold a few times so she could speak with various managers, she was able to confirm the following information to me:

• The full credit limits -- not just the balances -- of all account types EXCEPT FOR the Amex line and the Major Purchases account type are being merged.  In my personal example, my $2100 revolving, $6100 special events, and $10k club accounts will combine into a total $18200 line that will be reported to CCBs in full, along with the sum of balances across those types.
• HOWEVER, from an internally functional perspective, the single account will still be partitioned according to the original account types.  So when you get your post-merger statement, you will see your balance split out into the various promotional types that you may have.  That means that the total line cannot be used however you like, but it will function the way it currently does.  In my example, if I wanted to buy a $12k piece of jewelry, I could only use up to $10k from my Macy's card since that was the internal limit for Club-type purchases.  Likewise, I couldn't do $3k in general spend since my internal revolving limit is still $2100.
• The Major Purchases account type is NOT being merged, with the exception of balances currently on that account type.  I was told the reason is because its redundant to the revolving type.  But this is the only account type being treated like that... so if you opened an MP account in anticipation of the merger, you'll lose the full line unless you made a purchase on that account, in which case the balance will be merged and the merged limit will be increased by that same amount.
• There is a caveat to the special events and club accounts being merged -- you have to have used those accounts within the past 24 months prior to the merger date.  In my personal example, the $10k club account that I opened last month will go away unless I make a purchase to that account before the merger... but then the FULL line will also be merged along with that balance.  Looks like I'm going watch shopping this weekend...  But that also means that, if you have a club account or special events account with $0 balance that you had used within the past 24 months, you don't have to rush out to make a purchase before the merger occurs in order to retain thost credit limits.
• As you know, the club account currently reports to CCBs as a separate line.  After the merger, I was told that the club account line item on the CR will report as being "transferred", and then the merged account line item will show the full merged account, along with the full merged balance.

I sure as heck hope that's all there is to it. 

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Very thorough information here!   Thank you for sharing this!

I just paid off my Special Events balance on my last statement period.   So it looks Macy's would report a $5400 CL in my case, and I'm fine with that.  

[NichelleN]

I have a $5K Special Events line and a $1400 Club line. I have a balance on both since they were running a 12 month, no interest promo for things I really needed. It looks like they will both transfer so I'm happy with that.