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So I finally found someone at Macy's that could explain this to me.
I am not sure how many points this has cost me on my score, but my attempt to save a little money on a mattress (which ironically is defective) may have cost me much more when I try to refinance.
Ugh!
It almost makes sense, but what happens to number 3 if you do pay off number 2 before the deadline?
Glad you figured it out, was just about to post and tell you all about Macy's.
In the long run it will help your score most likely, but could hurt you right now, but I LOVE my Macy's card!
I agree with CA,
It makes somewhat sense, alittle confused on account 3 but oh well.
But with time this will help your score.
cal801 wrote:
********* When checking my credit report I noticed that my report showed four accounts opened last year – all from Macy’s (three store one Visa). *******
did your macy's visa show up as a TL on TU?
i'm curious because i have just the opposite problem as you regarding macy's accts - only the store card ($1500 CL) shows up on TU, but the visa ($5000 CL) doesn't (they both show up on the other CR's) . without the macy's visa on TU, it looks to TU that my available credit is less than it really is, thus TU has me at 11% util (the others have me at 3-5%), and my TU score at 704 is almost 80 points lower than the others!
@Imua wrote:
cal801 wrote:
********* When checking my credit report I noticed that my report showed four accounts opened last year – all from Macy’s (three store one Visa). *******did your macy's visa show up as a TL on TU?
i'm curious because i have just the opposite problem as you regarding macy's accts - only the store card ($1500 CL) shows up on TU, but the visa ($5000 CL) doesn't (they both show up on the other CR's) . without the macy's visa on TU, it looks to TU that my available credit is less than it really is, thus TU has me at 11% util (the others have me at 3-5%), and my TU score at 704 is almost 80 points lower than the others!
Hi Imua:
you should definitely call macys and ask to speak to a manager and let them know your TL is not reporting to TU.
thanks. i thought it was odd that only 1 showed up
@oracles wrote:
@Imua wrote:
cal801 wrote:
********* When checking my credit report I noticed that my report showed four accounts opened last year – all from Macy’s (three store one Visa). *******did your macy's visa show up as a TL on TU?
i'm curious because i have just the opposite problem as you regarding macy's accts - only the store card ($1500 CL) shows up on TU, but the visa ($5000 CL) doesn't (they both show up on the other CR's) . without the macy's visa on TU, it looks to TU that my available credit is less than it really is, thus TU has me at 11% util (the others have me at 3-5%), and my TU score at 704 is almost 80 points lower than the others!
Hi Imua:
you should definitely call macys and ask to speak to a manager and let them know your TL is not reporting to TU.
@Anonymous wrote:
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?
I know this wasn't the question specifically, but if your middle FICO score is 742, you should have no problem qualifying for the best rates. At most lenders the top tier starts at 720-740.