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Moderator Emeritus
beamMEup
Posts: 4,470
Registered: ‎12-31-2008
0

Re: Macy's still charged interest!!


haulingthescoreup wrote:

At least you've gotten your balance away from them and their crazy rates!


SO true!  Macy's at 24.99% (at least for me) is a PIF card for sure.

Thanks armymom for reminding us of the intricacies of interest charging.  And congrats on that $0 Macy's balance.  That's got to feel great!

 

And I remain thankful to the good woman (in a finance class) that shared her technique - she always pays Macy's in store before she leaves the store.  I thought she was a little over-the-top until I opened a Macy's card and came to understand how Macy's works.  Now I understand it's just easier to pay it off immediately.

 

I remain a Macy's fan for their coupons and deals, but I am more convinced than ever to never give these guys a penny in interest - they are SO wanting to take that cash!  And its easy to undo any good sale or coupon by carrying a balance.  I'm guessing this is how Macy's manages to create those super duper deals - they're hoping the sale item goes on a Macy's credit card and isn't PIF'd.  (I'm not  fully convinced of the CSR's statement that they are trying to encourage all card holders to be PIF'ers).

 

Thanks again armymom for sharing and reminding us that this is the way the world (and fine print) can work.  And congrats again on that $0 Macys balance.  Party!

Just puttin' syrup on something, don't make it pancakes.
Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
0

Re: Macy's still charged interest!!

...and at least you saw the follow-up statement. There are many stories in these forums of accounts being late or charged off because the account holder never bothered to look at the following month's statement. They assumed the balance was $0.

Regular Contributor
armymom
Posts: 204
Registered: ‎01-18-2009
0

Re: Macy's still charged interest!!


beamMEup wrote:

haulingthescoreup wrote:

At least you've gotten your balance away from them and their crazy rates!


SO true!  Macy's at 24.99% (at least for me) is a PIF card for sure.

Thanks armymom for reminding us of the intricacies of interest charging.  And congrats on that $0 Macy's balance.  That's got to feel great!

 

And I remain thankful to the good woman (in a finance class) that shared her technique - she always pays Macy's in store before she leaves the store.  I thought she was a little over-the-top until I opened a Macy's card and came to understand how Macy's works.  Now I understand it's just easier to pay it off immediately.

 

I remain a Macy's fan for their coupons and deals, but I am more convinced than ever to never give these guys a penny in interest - they are SO wanting to take that cash!  And its easy to undo any good sale or coupon by carrying a balance.  I'm guessing this is how Macy's manages to create those super duper deals - they're hoping the sale item goes on a Macy's credit card and isn't PIF'd.  (I'm not  fully convinced of the CSR's statement that they are trying to encourage all card holders to be PIF'ers).

 

Thanks again armymom for sharing and reminding us that this is the way the world (and fine print) can work.  And congrats again on that $0 Macys balance.  Party!


HTSU, that is exactly why I jumped at the chance to pay my balance off with a BT, especially at 0% til Sept 2011.:smileyvery-happy:  And BeamMEup, you are right.  Macy's is definitely a PIF card.  I'll never pay Macy's ridiculous interest rate again.

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