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Starting Score: TU- 682, EQ- 698, EX- 713
A poster in another forum (that shall not be named 
), who works for Macy's posted this:
), who works for Macy's posted this:They did a nearly identical thing last fall.
Don't count on sockdrawing your Macy's store card and getting an offer. All the offers are already mailed, and if you are not one of the 1.5 million who get an offer this week, you won't get one at all. They were mailed on Friday of last week.
Those who have not charged anything at all for 18 months. But it is not just this they used to determine who got the upgrade offer, it was a combination of Experian FICO score, inactivity on a store only account, and a few other things.
Out of the 30 million Macy's accounts, a large percentage are underwritten by CITI, yes. They used the Mastercard logo this time simply to differentiate it from the " co brand " accounts which are store/VISA cards. This is a " standalone " MC card with no associated store account. The store account will literally be wiped away, and the new MC will begin reporting right away, with a higher CL in most every situation, simply because Macy's store accounts typically have lower limits than MC cards. YES there are exceptions.
These cards will completely replace the Macy's store account, and the inactive store account will show up on the credit reports as " transferred to ", with the new Mastercard number (16 digit) as the new account number.
Remember that most all the rewards associated with the Macy's store account are not to be offered on the new MC. Also, be aware that their are some zero interest " motivators " to get you to convert. I think there are $99 and $299 purchases with zero interest for three months.
For those with Macy's VISA cards, there is far more differences between between these accounts and the new MC than similarities. I am too tired to list all the differeneces, but there are plenty.
Don't count on sockdrawing your Macy's store card and getting an offer. All the offers are already mailed, and if you are not one of the 1.5 million who get an offer this week, you won't get one at all. They were mailed on Friday of last week.
QUOTE
Is this only for ppl with a zero balance for more than 18 months?
Or ppl who haven't charged on their card in that long?
Or ppl who haven't charged on their card in that long?
Those who have not charged anything at all for 18 months. But it is not just this they used to determine who got the upgrade offer, it was a combination of Experian FICO score, inactivity on a store only account, and a few other things.
Out of the 30 million Macy's accounts, a large percentage are underwritten by CITI, yes. They used the Mastercard logo this time simply to differentiate it from the " co brand " accounts which are store/VISA cards. This is a " standalone " MC card with no associated store account. The store account will literally be wiped away, and the new MC will begin reporting right away, with a higher CL in most every situation, simply because Macy's store accounts typically have lower limits than MC cards. YES there are exceptions.
These cards will completely replace the Macy's store account, and the inactive store account will show up on the credit reports as " transferred to ", with the new Mastercard number (16 digit) as the new account number.
Remember that most all the rewards associated with the Macy's store account are not to be offered on the new MC. Also, be aware that their are some zero interest " motivators " to get you to convert. I think there are $99 and $299 purchases with zero interest for three months.
For those with Macy's VISA cards, there is far more differences between between these accounts and the new MC than similarities. I am too tired to list all the differeneces, but there are plenty.
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