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Frequent Contributor
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Registered: ‎02-03-2008
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Re: Macys

On EQ they are reporting my balance but under CL the space is "blank". 

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Registered: ‎03-12-2007
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Re: Macys

 


O6 wrote:

fused wrote:

 


O6 wrote:

fused wrote:

 


O6 wrote:

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


Me too!Smiley Mad

 


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?


 

I'm not clear on what you're asking.Smiley Happy

 

No, so far they haven't.

Credit Profile:
FICO 9: EQ 833 ~ EX 828 ~ TU 824 (07-12-2017)
FICO 8: EQ 830 ~ EX 819 ~ TU 828 (07-12-2017)
FICO 8 Bankcard: EQ 851 ~ EX 849 ~ TU 851 (07-12-2017)
Credit History: 29 years ~ AAoA: 14 years
Total available revolving credit: 157K ~ Cumulative Util: 3% (1 CC reporting a balance)
Inqs: 1 EX (new)
14 Total Accounts on Reports: 9 open, 5 closed. 1 newly opened installment account
Regular Contributor
Posts: 124
Registered: ‎10-06-2009
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Re: Macys

No, mine shows neither high balance or CL.

 

Terms:  0
High Balance:---
Limit:---
Past Due:-$0$0
Payment Status:CurrentCurrentCurrent
11/15/11- TU FICO 707 EQ FICO 710 EXP FAKO 738 (USBANK)
12/12/11 - TU Fico 727 EQ FICO 710 EXP FAKO 739 (USBANK)
Goal Score - 750 by 12/31/2012
Moderator Emeritus
Posts: 16,382
Registered: ‎03-12-2007
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Re: Macys

 


Peaches4524 wrote:

No, mine shows neither high balance or CL.

 

 

Terms:     0
High Balance: - - -
Limit: - - -
Past Due: - $0 $0
Payment Status: Current Current Current

 


Your Macy's account does not factor in util calculations. Same for me.

 

Credit Profile:
FICO 9: EQ 833 ~ EX 828 ~ TU 824 (07-12-2017)
FICO 8: EQ 830 ~ EX 819 ~ TU 828 (07-12-2017)
FICO 8 Bankcard: EQ 851 ~ EX 849 ~ TU 851 (07-12-2017)
Credit History: 29 years ~ AAoA: 14 years
Total available revolving credit: 157K ~ Cumulative Util: 3% (1 CC reporting a balance)
Inqs: 1 EX (new)
14 Total Accounts on Reports: 9 open, 5 closed. 1 newly opened installment account
Senior Contributor
Posts: 3,626
Registered: ‎10-13-2009
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Re: Macys

[ Edited ]

fused wrote:

 


O6 wrote:

fused wrote:

 


O6 wrote:

fused wrote:

 


O6 wrote:

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


Me too!Smiley Mad

 


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?


 

I'm not clear on what you're asking.Smiley Happy

 

No, so far they haven't.


I mean that it seems that in the absence of a CL, scoring takes the high balance into account as though it were a credit limit.  And then, since the high balance may be far less than your actual CL, it can make your UTIL look worse.

IAALBNYL
Moderator Emeritus
Posts: 16,382
Registered: ‎03-12-2007
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Re: Macys

[ Edited ]

 


O6 wrote:

 

I mean that it seems that in the absence of a CL, scoring takes the high balance into account as though it were a credit limit.  And then, since the high balance may be far less than your actual CL, it can make your UTIL look worse.


Yes, the situation you're describing would tank scores in the same way as a high balance (high util) reporting in relation to a credit limit. The thing with Macy's is it shouldn't hurt our FICO scores, so that's a good thing. BTW, I will be bumping a thread updating the new Amex plot. The details are still early, but I get the sense that they're up to no good.

 

Credit Profile:
FICO 9: EQ 833 ~ EX 828 ~ TU 824 (07-12-2017)
FICO 8: EQ 830 ~ EX 819 ~ TU 828 (07-12-2017)
FICO 8 Bankcard: EQ 851 ~ EX 849 ~ TU 851 (07-12-2017)
Credit History: 29 years ~ AAoA: 14 years
Total available revolving credit: 157K ~ Cumulative Util: 3% (1 CC reporting a balance)
Inqs: 1 EX (new)
14 Total Accounts on Reports: 9 open, 5 closed. 1 newly opened installment account
Established Contributor
Posts: 871
Registered: ‎03-07-2008
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Re: Macys


fused wrote:

 


O6 wrote:

 

I mean that it seems that in the absence of a CL, scoring takes the high balance into account as though it were a credit limit.  And then, since the high balance may be far less than your actual CL, it can make your UTIL look worse.


Yes, the situation you're describing would tank scores in the same way as a high balance (high util) reporting in relation to a credit limit. The thing with Macy's is it shouldn't hurt our FICO scores, so that's a good thing. BTW, I will be bumping a thread updating the new Amex plot. The details are still early, but I get the sense that they're up to no good.

 


I hate to add more to this and it's amazing that I even have another question...but here it goes:

 

You are all referring to "high balance".  On my report the only thing NOT showing NA is "recent balance".  There is a "high balance" area but that too shows NA....is this factoring into my util?


Starting Score: 615
Current Score: 709
Goal Score: 750


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New Member
Posts: 4
Registered: ‎01-16-2009
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Re: Macys

Just called Macys to see why it isn't reporting.  They said as of 2 weeks ago they have stopped reporting limits since its not a credit card.  They explained that since they can adjust the limit at any time they were told not to list the limits anymore.  WTF is that about.  I guess the only reason to keep the card is to get the discount coupons and just not charge onto it since it will show as you are using more than the credit that is available.  They aren't even showing what the high balance was.

Established Contributor
Posts: 871
Registered: ‎03-07-2008
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Re: Macys

HeartbreakingSmiley Sad

 

 


Starting Score: 615
Current Score: 709
Goal Score: 750


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Posts: 16,382
Registered: ‎03-12-2007
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Re: Macys

 


polo2883 wrote:

Just called Macys to see why it isn't reporting.  They said as of 2 weeks ago they have stopped reporting limits since its not a credit card.  They explained that since they can adjust the limit at any time they were told not to list the limits anymore.  WTF is that about.  I guess the only reason to keep the card is to get the discount coupons and just not charge onto it since it will show as you are using more than the credit that is available.  They aren't even showing what the high balance was.


How can Macy's make that claim. Unless something has recently changed, none of us are required to PIF each month. Credit IS being extended.

 

Credit Profile:
FICO 9: EQ 833 ~ EX 828 ~ TU 824 (07-12-2017)
FICO 8: EQ 830 ~ EX 819 ~ TU 828 (07-12-2017)
FICO 8 Bankcard: EQ 851 ~ EX 849 ~ TU 851 (07-12-2017)
Credit History: 29 years ~ AAoA: 14 years
Total available revolving credit: 157K ~ Cumulative Util: 3% (1 CC reporting a balance)
Inqs: 1 EX (new)
14 Total Accounts on Reports: 9 open, 5 closed. 1 newly opened installment account

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