Multiple Macy's accounts showing up on credit report

[Anonymous]

On 9/08 I opened a Macy’s store account in order to get a discount on a mattress purchase.  I specifically requested only a store account but discovered a Macy’s store and Macy’s Visa account were opened.  When checking my credit report I noticed that my report showed four accounts opened last year – all from Macy’s (three store one Visa).  Three were opened on 9/08 and one in 11/08.  As I  am trying to refinance my mortgage  I would like to improve my current score of 742.  What steps should I take to correct this.  If I have them cancel these accounts will this hurt my score?  

[Scamp]

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cal801 wrote:
On 9/08 I opened a Macy’s store account in order to get a discount on a mattress purchase.  I specifically requested only a store account but discovered a Macy’s store and Macy’s Visa account were opened.  When checking my credit report I noticed that my report showed four accounts opened last year – all from Macy’s (three store one Visa).  Three were opened on 9/08 and one in 11/08.  As I  am trying to refinance my mortgage  I would like to improve my current score of 742.  What steps should I take to correct this.  If I have them cancel these accounts will this hurt my score?  

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Welcome to the Forums, cal801!

Please read Closing Credit Cards as a start to answering your question, and the post back with any additional questions you may have.  There may be other things you can do to improve your score, but reading that is your first step.

Welcome again!

[wmarat]

Even if you close accounts, they stay on your report for up to 10 years. So account closing, probably won't increase your score, besides you already took the hit, let them age.

[oracles]

I would definitely call Macys and make them aware of this situation. You maybe able to get them to delete the extra 3 accounts and any other inquiries that may have been used. Don't speak to a frontline rep, go higher in the chain. These extra accounts have cost you points and reduce your AAofA. This is definitely hurting your score somewhat. However I would also see what your score is and see if it did major damage to your score. If it only dropped minimally (1-3 pts) then depending on when you are going to apply for a mortgage, you may get these pts back my that time.

hope this helps and keep us updated

[arjames01]

If you app'ed in store there should have been a check box that said "consider me only for a macy's" or something along this lines. If that box isn't check it'll open you for the store card and the visa part, if you qualify.

[Anonymous]

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@Anonymous wrote:
On 9/08 I opened a Macy’s store account in order to get a discount on a mattress purchase.  I specifically requested only a store account but discovered a Macy’s store and Macy’s Visa account were opened.  When checking my credit report I noticed that my report showed four accounts opened last year – all from Macy’s (three store one Visa).  Three were opened on 9/08 and one in 11/08.  As I  am trying to refinance my mortgage  I would like to improve my current score of 742.  What steps should I take to correct this.  If I have them cancel these accounts will this hurt my score?  

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We were just discussing Macy's the other day. I was asking about the levels of their cards. (Red, Gold, Platinum, Elite)  

Is it possible they upgraded you to the other cards and reported them as a new TL?

[arjames01]

That shouldn't happen. The color only shows us how much of a shopper you are.   And it also gives you more perks such as free gift wrapping, shipping etc. It's basically a measure of loyalty.  It shouldn't report as a new account, since it techinically is not.

[Anonymous]

I can't remember if I checked or did not check though I do remember making sure to do whatever it was to not be considered for a visa - checking it if that was the step I needed to take.  The sales person and I even discussed that I did not want a visa, but perhaps when they did the credit approval over the phone he submitted it incorrectly.  I am okay with the Visa as it lowers my debt to credit available ratio, but I am concerned about the other 2 store charge accounts that appeared to be open for no reason.  I would like to have them removed but was concerned that would hurt my credit score more as it shows accounts being closed. Is it worse to show 4 account opened in 2008 and left alone or 4 accounts opened in 2008 and 2 closed in 2009?

[oracles]

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@Anonymous wrote:
I can't remember if I checked or did not check though I do remember making sure to do whatever it was to not be considered for a visa - checking it if that was the step I needed to take.  The sales person and I even discussed that I did not want a visa, but perhaps when they did the credit approval over the phone he submitted it incorrectly.  I am okay with the Visa as it lowers my debt to credit available ratio, but I am concerned about the other 2 store charge accounts that appeared to be open for no reason.  I would like to have them removed but was concerned that would hurt my credit score more as it shows accounts being closed. Is it worse to show 4 account opened in 2008 and left alone or 4 accounts opened in 2008 and 2 closed in 2009?

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i would see if they can delete the two extra tradelines off of your report.

You may also want to dispute the tradelines as not yours with the CBs.

However once again readwhat i posted earlier about aging.

I would not close the accounts if they can not delete the lines.

[Anonymous]

Also be very very careful when having a TL deleted. I have read in these forums that some creditors will delete all your TL's from the reports, even the ones you want on there.