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


O6 wrote:

I'm confused.  Can anybody please explain what Macy's logic is in not reporting limits?

 

Am I wrong in thinking that the only "harm" this will have to customers is how it effects util?  What implications are there when there is a 0 CL, but the card shows, say, a $100 balance?  Will it look like the card is maxed out?


Exactly. More of a potential imact on Util if you use the card and carry a balance, nevermind that you may be actually at 10/20/30 percent of the overall balance...it gives a "maxed" out appearance (point wise) by not reporting the line.

 

Many had this SAME problem with Firestone and their reporting (CarCare One I believe) which only reported your balance, not the overall limit.


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)
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Senior Contributor
score_building
Posts: 3,552
Registered: ‎01-10-2008
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Re: Macys

 


O6 wrote:

I'm confused.  Can anybody please explain what Macy's logic is in not reporting limits?

 

Am I wrong in thinking that the only "harm" this will have to customers is how it effects util?  What implications are there when there is a 0 CL, but the card shows, say, a $100 balance?  Will it look like the card is maxed out?


It will look like the card is $100 OTL.

 

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Established Contributor
happy0510
Posts: 807
Registered: ‎03-07-2008
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Re: Macys


score_building wrote:

 


O6 wrote:

I'm confused.  Can anybody please explain what Macy's logic is in not reporting limits?

 

Am I wrong in thinking that the only "harm" this will have to customers is how it effects util?  What implications are there when there is a 0 CL, but the card shows, say, a $100 balance?  Will it look like the card is maxed out?


It will look like the card is $100 OTL.

 


So how does N/A play into all this?


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deemac
Posts: 388
Registered: ‎09-09-2008
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Re: Macys

according to someone on another board who called them, it is because the "CL" is actually a "guide line" not an actual hard/fast credit limit and they believe they must  do this to comply with new regulations. However, it was pointed out that Nordstrom's is having no problem with it.

Frequent Contributor
deemac
Posts: 388
Registered: ‎09-09-2008
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Re: Macys

I'm wondering if the "high balance" will show and substitute in fico formulation for the credit limit, as Crap1  used to do.

Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009
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Re: Macys

Great.  Now EX is showing Macy's with a $0 credit limit.

IAALBNYL
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fused
Posts: 16,374
Registered: ‎03-12-2007
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Re: Macys

 


O6 wrote:

Great.  Now EX is showing Macy's with a $0 credit limit.


Me too!:smileymad:

 

Credit Profile -
FICO 08 Scores (09-16-2014): EQ 824, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)

Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009
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Re: Macys


fused wrote:

 


O6 wrote:

Great.  Now EX is showing Macy's with a $0 credit limit.


Me too!:smileymad:

 


Something just isn't smelling right with Macy's.

 

First they try the lame end run around the ban on double-cycle billing.  Then they announce changing to AmEx as their credit card partner (which I am not saying is bad).

 

Now they decide not to report CLs.  Their excuse so far given to those who have been kind enough to post what they've been told is, to put it succinctly, lame.  I would like to know what their real reason is for doing this.

 

Is there a possibility this -- as trying to avoid the ban on double-cycle billing and switching to AmEx -- is a cost saving measure?  Can we read into this that Macy's is in financial distress?  Is it time to jump ship?

 

On a side note, how does FICO account for Signature Visa cards that report no CL?  Will Macy's sans CL also be factored into FICO the same way?

IAALBNYL
Moderator Emeritus
fused
Posts: 16,374
Registered: ‎03-12-2007
0

Re: Macys

[ Edited ]

 


O6 wrote:

fused wrote:

 


O6 wrote:

Great.  Now EX is showing Macy's with a $0 credit limit.


Me too!:smileymad:

 


Something just isn't smelling right with Macy's.

 

First they try the lame end run around the ban on double-cycle billing.  Then they announce changing to AmEx as their credit card partner (which I am not saying is bad).

 

Now they decide not to report CLs.  Their excuse so far given to those who have been kind enough to post what they've been told is, to put it succinctly, lame.  I would like to know what their real reason is for doing this.

 

Is there a possibility this -- as trying to avoid the ban on double-cycle billing and switching to AmEx -- is a cost saving measure?  Can we read into this that Macy's is in financial distress?  Is it time to jump ship?

 

On a side note, how does FICO account for Signature Visa cards that report no CL?  Will Macy's sans CL also be factored into FICO the same way?


For either card, if there is a $0 CL (or its blank) and there is no high balance reporting (or its blank), the trade line will not factor in util calculations.

 

Credit Profile -
FICO 08 Scores (09-16-2014): EQ 824, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)

Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009
0

Re: Macys


fused wrote:

 


O6 wrote:

fused wrote:

 


O6 wrote:

Great.  Now EX is showing Macy's with a $0 credit limit.


Me too!:smileymad:

 


Something just isn't smelling right with Macy's.

 

First they try the lame end run around the ban on double-cycle billing.  Then they announce changing to AmEx as their credit card partner (which I am not saying is bad).

 

Now they decide not to report CLs.  Their excuse so far given to those who have been kind enough to post what they've been told is, to put it succinctly, lame.  I would like to know what their real reason is for doing this.

 

Is there a possibility this -- as trying to avoid the ban on double-cycle billing and switching to AmEx -- is a cost saving measure?  Can we read into this that Macy's is in financial distress?  Is it time to jump ship?

 

On a side note, how does FICO account for Signature Visa cards that report no CL?  Will Macy's sans CL also be factored into FICO the same way?


For either card, if there is a $0 CL (or its blank) and there is no high balance reporting (or its blank), the trade line will not factor in util calculations.

 


I see.  Thanks.

 

So it seems the damage comes from a $0 CL and a high balance because the highbalance is taken as a defacto CL and the high balance may not be as high as the actual limit is.  Do I have that right?

 

Without going back and looking at my CRs, does anybody know if Macy's is reporting a high balance?

IAALBNYL

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