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Frequent Contributor
Pushto700
Posts: 267
Registered: ‎07-28-2009

Re: Macys

[ Edited ]

Ryanfico wrote:

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.


This is intentional. I am not this stupid. It initially appeared on EQ. Then TU. Exoerian (which updates the most rapid in my experience of the three) was not touched. That was until May 1 reporting:

 

 

 

Once I completely rebuild to plus 700 across the board (if this doesn't change) I am going to drop them & Bloomingdales instantly.

 

MACYS
Address:
 9111 DUKE BLVD
  MASON, OH 45040
 No phone number available
Account Number:
 
 

Address Identification Number:
  0698916450
 

Status:
Open/Never late.
 
 

Date Opened:
10/2009
Date of Status:
05/2010
Reported Since:
11/2009
Last Reported Date:
05/2010

Type:
Revolving
Terms:
N/A 
Monthly Payment:
$5
Responsibility:
Individual 

Credit Limit:
N/A
High Balance:
N/A 
Recent Balance:
$38
Recent Payment:
$0

 

BLOOMINGDALES/DSNB Address: 9111 DUKE BLVD MASON, OH 45040

No phone number available Account Number:

Address Identification Number: 0698916450

 

Status: Open/Never late.

Date Opened: 10/2009

Date of Status: 04/2010

Reported Since: 12/2009

Last Reported Date: 04/2010

Type: Revolving

Terms: N/A Monthly

Payment: $5

Responsibility: Individual

Credit Limit: N/A

High Balance: N/A

Recent Balance: $47

Recent Payment: $0


Starting Score: TU: ?-- EQ: ?--EX 560 (8-08)
Current Score: TU: 671 (3-10) 625 (4-10/Rebucketed)--EQ: 674 (3-10)--EX 630 (Lender 11-09)
Goal Score: TU: 750--EQ: 760


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Moderator Emeritus
beamMEup
Posts: 4,473
Registered: ‎12-31-2008

Re: Macys

RE:  Once I completely rebuild to plus 700 across the board (if this doesn't change) I am going to drop them & Bloomingdales instantly.

____________________________________________________________________________________________________

 

I understand your frustration.  I'm keeping mine open for the time being because I like the account reporting.  It allows be to report a balance on one card out of three.  If I close it, I'll report a balance on one card out of two - and I'm not crazy about that percentage of cards reporting balances.  Nor am I interested in opening a new "replacement" account  and dinging my AAofA.

 

It'll be interesting to see how Macy's new Amex card reports its open date.  Depending on how they handle that, it could be a plus  :smileyhappy: (or, of course, a minus) :smileysad:

Just puttin' syrup on something, don't make it pancakes.
Frequent Contributor
Pushto700
Posts: 267
Registered: ‎07-28-2009

Re: Macys


beamMEup wrote:

RE:  Once I completely rebuild to plus 700 across the board (if this doesn't change) I am going to drop them & Bloomingdales instantly.

____________________________________________________________________________________________________

 

I understand your frustration.  I'm keeping mine open for the time being because I like the account reporting.  It allows be to report a balance on one card out of three.  If I close it, I'll report a balance on one card out of two - and I'm not crazy about that percentage of cards reporting balances.  Nor am I interested in opening a new "replacement" account  and dinging my AAofA.

 

It'll be interesting to see how Macy's new Amex card reports its open date.  Depending on how they handle that, it could be a plus  :smileyhappy: (or, of course, a minus) :smileysad:


In my case the AAoA will not affect me as they are new and I have Credit Union & Bank CC's older than these. The utilization (should I start using these again) will definitely affect my FICO. Not a knee jerk reaction. I might think harder about it had this card been much older. But it's still considered "new" (anything within 1 year).

 

So I am going to wait it out and see. But if it doesn't trust me, I don't need them.....I have other cards with much better terms than a yearly APR of 26%.


Starting Score: TU: ?-- EQ: ?--EX 560 (8-08)
Current Score: TU: 671 (3-10) 625 (4-10/Rebucketed)--EQ: 674 (3-10)--EX 630 (Lender 11-09)
Goal Score: TU: 750--EQ: 760


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Moderator Emeritus
beamMEup
Posts: 4,473
Registered: ‎12-31-2008

Re: Macys

[ Edited ]

Pushto700 wrote:

beamMEup wrote:

I understand your frustration.  I'm keeping mine open for the time being because I like the account reporting.  It allows be to report a balance on one card out of three.  If I close it, I'll report a balance on one card out of two - and I'm not crazy about that percentage of cards reporting balances.  Nor am I interested in opening a new "replacement" account  and dinging my AAofA.

 

It'll be interesting to see how Macy's new Amex card reports its open date.  Depending on how they handle that, it could be a plus  :smileyhappy: (or, of course, a minus) :smileysad:


In my case the AAoA will not affect me as they are new and I have Credit Union & Bank CC's older than these. The utilization (should I start using these again) will definitely affect my FICO. Not a knee jerk reaction. I might think harder about it had this card been much older. But it's still considered "new" (anything within 1 year).

 

So I am going to wait it out and see. But if it doesn't trust me, I don't need them.....I have other cards with much better terms than a yearly APR of 26%.


Good thinking!  I'm a big fan of keeping cards that work well for you, and letting go of those that don't benefit you or your FICO.  So it's always sound policy to figure out what's best for you.  And point on regardng utilization if you report a balance on these guys.

 

Just a note on AAofA for anyone else reading this post.  Closing cards doesn't affect your AAofA.  They will still be used in the AAofA calculations, whether open or closed, as long as they are on your CR's.  On my post, I referred to AAofA as well, but it was in reference to opening a new account - which will, of course, have an impact on AAofA.

Just puttin' syrup on something, don't make it pancakes.
Frequent Contributor
Pushto700
Posts: 267
Registered: ‎07-28-2009

Re: Macys


beamMEup wrote:

Pushto700 wrote:

beamMEup wrote:

I understand your frustration.  I'm keeping mine open for the time being because I like the account reporting.  It allows be to report a balance on one card out of three.  If I close it, I'll report a balance on one card out of two - and I'm not crazy about that percentage of cards reporting balances.  Nor am I interested in opening a new "replacement" account  and dinging my AAofA.

 

It'll be interesting to see how Macy's new Amex card reports its open date.  Depending on how they handle that, it could be a plus  :smileyhappy: (or, of course, a minus) :smileysad:


In my case the AAoA will not affect me as they are new and I have Credit Union & Bank CC's older than these. The utilization (should I start using these again) will definitely affect my FICO. Not a knee jerk reaction. I might think harder about it had this card been much older. But it's still considered "new" (anything within 1 year).

 

So I am going to wait it out and see. But if it doesn't trust me, I don't need them.....I have other cards with much better terms than a yearly APR of 26%.


Good thinking!  I'm a big fan of keeping cards that work well for you, and letting go of those that don't benefit you or your FICO.  So it's always sound policy to figure out what's best for you.  And point on regardng utilization if you report a balance on these guys.

 

Just a note on AAofA for anyone else reading this post.  Closing cards doesn't affect your AAofA.  They will still be used in the AAofA calculations, whether open or closed, as long as they are on your CR's.  On my post, I referred to AAofA as well, but it was in reference to opening a new account - which will, of course, have an impact on AAofA.


+ 1 - I just can't believe the way creditors are trying to screw us, lol. We just have to be smarter, and more creative.


Starting Score: TU: ?-- EQ: ?--EX 560 (8-08)
Current Score: TU: 671 (3-10) 625 (4-10/Rebucketed)--EQ: 674 (3-10)--EX 630 (Lender 11-09)
Goal Score: TU: 750--EQ: 760


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Moderator Emeritus
beamMEup
Posts: 4,473
Registered: ‎12-31-2008

Re: Macys


Pushto700 wrote:  + 1 - I just can't believe the way creditors are trying to screw us, lol. We just have to be smarter, and more creative.

Hi Push,  How do you see this as trying to damage the consumer?

 

I'm not happy to have a card that doesn't report credit limits, but I doubt that there's any intent to hurt the customer.  Am I missing something?

 

For me, my main concern is with how this change affects my utility.  But I have to acknowledge that the best way to keep my utility where I want it to be, is to PIF cards, something which we all control for ourselves.    It just reminds me, once again, how important it is to not carry balances.  DH will be floating a balance for a few months (25% on two cards) and I can hardly breathe thinking about  it.  Will be glad when it's over and we're back down to $0 balances.

 

Just puttin' syrup on something, don't make it pancakes.
Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009

Re: Macys


beamMEup wrote:

Pushto700 wrote:  + 1 - I just can't believe the way creditors are trying to screw us, lol. We just have to be smarter, and more creative.

Hi Push,  How do you see this as trying to damage the consumer?

 

I'm not happy to have a card that doesn't report credit limits, but I doubt that there's any intent to hurt the customer.  Am I missing something?

 

For me, my main concern is with how this change affects my utility.  But I have to acknowledge that the best way to keep my utility where I want it to be, is to PIF cards, something which we all control for ourselves.    It just reminds me, once again, how important it is to not carry balances.  DH will be floating a balance for a few months (25% on two cards) and I can hardly breathe thinking about  it.  Will be glad when it's over and we're back down to $0 balances.

 


Gotta agree with you!

 

At this point I can't see how not reporting a balance is an act designed to screw people over.  To be fair, however, I also can't see where it is required under the new law. 

 

Since my Macy's Visa is reporting correctly, I assume that the new Macy's AmEx will, too.  Right now it seems only to effect the store card.

 

I'm wondering how Macy's will report a zero CL and have it not effect utilization.  I am also confused as to how a FICO can drop a few points just because the Macy's limit is reported as "N/A" when total ulti is still something like 0.5%.

IAALBNYL
Regular Contributor
JellyFish
Posts: 245
Registered: ‎06-03-2009

Re: Macys

Hello, Everyone!!

 

I too noticed on my CCT pull that my util had gone up (not by very much though). I looked over my reports and saw that my Macys limit was reporting $0. I called the backdoor # this morning, and the CSR told me also that they will NOT be reporting the limit ANYMORE. It is more of a guideline and will report as a retail card. But, check this out....if you have a balance, that will report...with a $0 CL/GL. That sucks!! I was glad to get my Macys card back after BK, but now it's really only good for the coupons!! No need to call every 3 to 6 months anymore, as it won't help util %.

 

Thank goodness, I have been PIF'ing every month and that my GL is only $400! This new reporting (or lack thereof) would have really screwed my Util up, as I do have balances on 3 other credit accounts. I am paying them down, but it really would have hurt right now as I am house hunting. This really could have hurt mhy score, and possibly my chances for mortgage approval. My score did not drop, as the gl is only $400 and it has a $0 balance.

 

Jelly


Starting Score: 615 EQ (1/1/10); 655 TU (12/31/09); 604 EX (10/20/09)
Current Score: 660 EQ (10/29/10); 676 TU (LO pull 4/21/10); EX 666 (LO pull 9/21/10)
Goal Score: 780


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Senior Contributor
score_building
Posts: 3,513
Registered: ‎01-10-2008

Re: Macys


JellyFish wrote:

Hello, Everyone!!

 

I too noticed on my CCT pull that my util had gone up (not by very much though). I looked over my reports and saw that my Macys limit was reporting $0. I called the backdoor # this morning, and the CSR told me also that they will NOT be reporting the limit ANYMORE. It is more of a guideline and will report as a retail card. But, check this out....if you have a balance, that will report...with a $0 CL/GL. That sucks!! I was glad to get my Macys card back after BK, but now it's really only good for the coupons!! No need to call every 3 to 6 months anymore, as it won't help util %.

 

Thank goodness, I have been PIF'ing every month and that my GL is only $400! This new reporting (or lack thereof) would have really screwed my Util up, as I do have balances on 3 other credit accounts. I am paying them down, but it really would have hurt right now as I am house hunting. This really could have hurt mhy score, and possibly my chances for mortgage approval. My score did not drop, as the gl is only $400 and it has a $0 balance.

 

Jelly


According to Macys, the accts that are reporting $0 are due to an error that will be fixed, it should be blank so it is removed from calculation.

If you have a $0CL reporting you may want to call so they can remove it for you sooner rather than later.

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Regular Contributor
JellyFish
Posts: 245
Registered: ‎06-03-2009

Re: Macys


score_building wrote:

JellyFish wrote:

Hello, Everyone!!

 

I too noticed on my CCT pull that my util had gone up (not by very much though). I looked over my reports and saw that my Macys limit was reporting $0. I called the backdoor # this morning, and the CSR told me also that they will NOT be reporting the limit ANYMORE. It is more of a guideline and will report as a retail card. But, check this out....if you have a balance, that will report...with a $0 CL/GL. That sucks!! I was glad to get my Macys card back after BK, but now it's really only good for the coupons!! No need to call every 3 to 6 months anymore, as it won't help util %.

 

Thank goodness, I have been PIF'ing every month and that my GL is only $400! This new reporting (or lack thereof) would have really screwed my Util up, as I do have balances on 3 other credit accounts. I am paying them down, but it really would have hurt right now as I am house hunting. This really could have hurt mhy score, and possibly my chances for mortgage approval. My score did not drop, as the gl is only $400 and it has a $0 balance.

 

Jelly


According to Macys, the accts that are reporting $0 are due to an error that will be fixed, it should be blank so it is removed from calculation.

If you have a $0CL reporting you may want to call so they can remove it for you sooner rather than later.


Yes the rep told me this as well, BUT if you have a balance on the card, that balance WILL be factored into the Util as it WILL be reported to the CRA.


Starting Score: 615 EQ (1/1/10); 655 TU (12/31/09); 604 EX (10/20/09)
Current Score: 660 EQ (10/29/10); 676 TU (LO pull 4/21/10); EX 666 (LO pull 9/21/10)
Goal Score: 780


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