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Frequent Contributor
BobbyJ
Posts: 304
Registered: ‎02-03-2008
0

Re: Macys

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

Fico Scores: EQ 677 (10/3/14) EX 648 (10/03/14) TU 656 (10/03/14)
Credit after BK DC 1/14/14: C1 Venture One $10,000 (10/2014) C1 Quicksilver Plat MC $4000 (2/2014) Sams Club Store Card $437 (10/1/14)
Survived BK Filing: Fort Knox CU Plat Visa $5000 / Lowes $7000 / HSN Card $3000 / Walmart Card $2000 / Macys $800 / Target Red Card $500 / Fingerhut $600
Moderator Emeritus
fused
Posts: 16,373
Registered: ‎03-12-2007
0

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!: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?


 

I'm not clear on what you're asking.:smileyhappy:

 

No, so far they haven't.

Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, 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

Regular Contributor
Peaches4524
Posts: 124
Registered: ‎10-06-2009
0

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
fused
Posts: 16,373
Registered: ‎03-12-2007
0

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 08 Scores (11-08-2014): EQ 818, 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

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

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!: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?


 

I'm not clear on what you're asking.:smileyhappy:

 

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
fused
Posts: 16,373
Registered: ‎03-12-2007
0

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 08 Scores (11-08-2014): EQ 818, 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

Established Contributor
happy0510
Posts: 808
Registered: ‎03-07-2008
0

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


Take the FICO Fitness Challenge
New Member
polo2883
Posts: 4
Registered: ‎01-16-2009
0

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
happy0510
Posts: 808
Registered: ‎03-07-2008
0

Re: Macys

Heartbreaking:smileysad:

 

 


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


Take the FICO Fitness Challenge
Moderator Emeritus
fused
Posts: 16,373
Registered: ‎03-12-2007
0

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 08 Scores (11-08-2014): EQ 818, 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


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