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Its a conspiracy. Hahaha!!!
I've have a EQ reporting problem with Macys for over a year now. My active 20+ year-old account is reported as closed. I disputed it, then it would revert back. I gave up. I'll revisit some other time. Good luck with yours.
I checked today and Macy's updated all 3 accounts with $0 limit. I have a recent large purchase and my utilization skyrocketed to 70%!
I called Macy's and per the customer rep, starting May they will no longer report the "guideline limit" to the CRA. This is due to the new credit law that was put in place a month ago. She said my utilization maybe affected now but after May it will be recoded and should help with the credit score... We shall see
@ficonewbie01 wrote:I checked today and Macy's updated all 3 accounts with $0 limit. My utilization skyrocketed to 70%!
I called Macy's and per the customer rep, starting May they will no longer report the "guideline limit" to the CRA. This is due to the new credit law that was put in place a month ago. She said my utilization maybe affected now but after May it will be recoded and should help with the credit score... We shall see
huh... recoded?
WTH?
@score_building wrote:
@ficonewbie01 wrote:I checked today and Macy's updated all 3 accounts with $0 limit. My utilization skyrocketed to 70%!
I called Macy's and per the customer rep, starting May they will no longer report the "guideline limit" to the CRA. This is due to the new credit law that was put in place a month ago. She said my utilization maybe affected now but after May it will be recoded and should help with the credit score... We shall see
huh... recoded?
WTH?
I could barely hear her but from what I heard, it has something to do with Macy's limit not being calculated in the fico score.
Could all of this have anything to do with them switching their VISAs over to AMEX? I don't know why/if this would matter, just throwing it out there.
Ugh. That makes no sense - or all of our cc's would be required to report that way as well. I think these CSR's are dancing as fast as they can. When I called in yesterday, the CSR I spoke to was not aware of the reporting issue. She had pulled her EXP and said hers was reporting fine and she couldn't imagine that there was a problem - it was the first she'd heard of it. Told me to call the CRB's and get it corrected - silly CSR.
@ficonewbie01 wrote:I called Macy's and per the customer rep, starting May they will no longer report the "guideline limit" to the CRA. This is due to the new credit law that was put in place a month ago.
This goes for Bloomingdales as well. Sorry guys.
@Anonymous wrote:Ugh. That makes no sense - or all of our cc's would be required to report that way as well. I think these CSR's are dancing as fast as they can. When I called in yesterday, the CSR I spoke to was not aware of the reporting issue. She had pulled her EXP and said hers was reporting fine and she couldn't imagine that there was a problem - it was the first she'd heard of it. Told me to call the CRB's and get it corrected - silly CSR.
@ficonewbie01 wrote:I called Macy's and per the customer rep, starting May they will no longer report the "guideline limit" to the CRA. This is due to the new credit law that was put in place a month ago.
I also have to call bullfeces on blaming the "new credit law."
This also reminds me of Macy's attempts to circumvent the prohibition on double-cycle billing by eliminating the grace period and then giving rebates to those who paid before the payment due date.
It seems like Macy's is starting to show characteristics of sleaze.
I called them the day I noticed the change on my CR. The CSR said it was a mistake and that they had other calls with the same issue. The CSR informed me that it would be corrected. If it is true and they are not going to report the credit limit then I will dump them. If there not reporting credit limits them there useless to me.