09-11-2011 11:11 AM
So I checked my EQ credit report.
It lists all my accounts and shows my $8500 CL with NM.
Does this mean they are actually reporting my credit limit?
If so, this would be great for my UTIL.
Just confused because I thought NM did not report CL.
09-11-2011 09:30 PM
UGH, yes HSBC recently decided to start reporting CL's and changed the policy that they will charge you an over limit fee if you go over!
When I worked with Neimans the card acted like a charge card, you had a limit but you could go over by at least 20% or they would start moving your CL to match your spending habits and payments.
Im sure it was because I was an employee but NM was in my Chapter 7 11 years ago... when I started working for them in 03' I was joint on a friends account with a $7500 limit... but since he did not work at NM they would not let me use that account for my discount, they made me open my own... which for obvious reasons they didn't really want to do but it was pushed through for $200 CL. YES $200 at NM! anyway, long story short I obviously went racing past a $200 limit, each purchase required sales person to call in but within seconds it was ALWAYS approved... now as I past 1k and then 2k im like surely this next purchase they are just going to say no... but that day never happened... I even said at one point that hey look I'm currently at $1500 or whatever it was why not just increase my CL? flat out answer was no that can't be done and future charges will not be approved. wish I could have called that rep back when I got my balance up to $2900!
okay so might have got off track a bit but what I'm really hoping for is that they bring back the Neiman Marcus American Express!
09-11-2011 09:53 PM
Thank you so much for your first hand knowledge!
Yeah....cannot do much with a low CL at NM. The reporting aspect now will certainly help my utility. It must have been recent, because I never saw the CL on my prior CRs.
09-11-2011 10:02 PM
yes I just noticed in about the last month that it reported a CL of $505 but it still doesn't show on the statement which I find annoying if I'm suppose to know how much I can spend without going over CL and getting overlimit fee. I'm just authorized on this account, it is my moms which she opened while I worked at NM so I could send her stuff (initial CL of $3500) they decreased to $500 back in like 08' when the credit crises was going on. (my employee card was closed when I left the company)
oh and speaking of going over by 20%, that doesn't seem to be possible anymore, I was trying to charge $265 at outlet this weekend and it was flat out declined (2). I had to get rep to call in and get available credit and charge that and I paid rest with Amex.
and as Auth NM does not issue cards in the Auth name anymore, they just send another card with account owners name so Rep also called in when I handed card over to see that I was authorized, a little annoying
09-11-2011 10:49 PM
Ridiculous not issuing a card in the AU name. Sry for your inconvenience with them. The info you provided was very interesting. I never knew a person could go over the limit by 20%. Obviously that is not the case anymore. I guess by doing that the old way, they could assess how much credit a person actually uses and go from there.
The seem to be pretty good now with CL. You should try for a CLI.