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Regular Contributor
gen-specific
Posts: 215
Registered: ‎02-27-2013

should I keep my Macy's card? "for the instore savings"

[ Edited ]

Hello

 

I have a Macy's store card

 

It has a 2400 limit on the Macy's side of the card

It has a 5000 limit on the AMEX side of the card

 

This card

 

a) has my lowest credit limits

b) is reportedly the biggest hassle with Macy's fraud department needing you to call in if you change things online, or plenty of stories about the limit being reduced drastically with no warning, etc

c) is not a real AMEX card where you can do a 3x CLI soft pull after X days

 

 

I have never had a problem with this card, except for the low limits.

 

It helps provide large savings in store at Macys. Although I don't shop much.

 

 

In comparison, I have a real AMEX with a $30,000 limit

 

 

the biggest factor here is the potential headache this card could be, over how low the limit is... given how many people talk about the problems they have had with it.... should I keep my Macy's card?

 

closing it would not adversely affect my AAoA

 

 

AMEX Blue 30k, Chase Sapphire Preferred 30k, Citi Thank You 24.9k , BoA VISA Rewards 17.5k, Wells Fargo 15k, Barclays 8.6k, Citibank Custom Credit Line 12k, Citi Diamond 7k, Macys/AMEX 2.5k/500

EFX 768, EXP 706, TU 747, AVG 740 GOOD - Oct 2013
EFX 667, EXP 658, TU 662, AVG 662 WEAK - Feb 2014
EFX ???, EXP 731, TU ???, AVG ??? ------------ Apr 2014
Super Contributor
enharu
Posts: 6,828
Registered: ‎02-27-2013

Re: should I keep my Macy's card? "for the instore savings"

I would say just keep it and sockdrawer it. The CL can help with the utilization.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Discover IT (15k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k).
Moderator
09Lexie
Posts: 22,404
Registered: ‎09-13-2012

Re: should I keep my Macy's card? "for the instore savings"

Unless you find it difficult to manage, keep it for the few times you shop at Macy's.
Regular Contributor
nyancat
Posts: 217
Registered: ‎12-21-2012

Re: should I keep my Macy's card? "for the instore savings"

It is a "real" AmEx in that it's on their network, and $5000 is not an incredibly low limit. If you want the card, hang on to it! Don't worry about any stories.

American Express Costco TrueEarnings - $15,600; American Express Blue Cash Everyday - $5,000; Bank of America Travel Rewards - $5,000; Capital One Cash Rewards Visa - $7,500; Citi Forward - $5,800 and $4,500; Chase Sapphire Preferred - $7,500; Discover It - $1,500
Moderator
09Lexie
Posts: 22,404
Registered: ‎09-13-2012

Re: should I keep my Macy's card? "for the instore savings"

@nyancat

OP clearly meant real because its not issued by Centurion Bank and thus does not qualify for 3x CLI's.
Regular Contributor
gen-specific
Posts: 215
Registered: ‎02-27-2013

Re: should I keep my Macy's card? "for the instore savings"

[ Edited ]

nyancat wrote:

It is a "real" AmEx in that it's on their network, and $5000 is not an incredibly low limit. If you want the card, hang on to it! Don't worry about any stories.


I'm on the fence

 

this card's two limits are completely separate and mutually exclusive of each other, so its a $2400 limit for macys and a $5000 limit for amex. Its incredibly low in relation to my more prime cards and total utilization ratio.

 

The plan is, in a few months, to close any card with a limit below $10,000  (except Chase Sapphire Preferred :smileyhappy: :smileyhappy: :smileyhappy: )

AMEX Blue 30k, Chase Sapphire Preferred 30k, Citi Thank You 24.9k , BoA VISA Rewards 17.5k, Wells Fargo 15k, Barclays 8.6k, Citibank Custom Credit Line 12k, Citi Diamond 7k, Macys/AMEX 2.5k/500

EFX 768, EXP 706, TU 747, AVG 740 GOOD - Oct 2013
EFX 667, EXP 658, TU 662, AVG 662 WEAK - Feb 2014
EFX ???, EXP 731, TU ???, AVG ??? ------------ Apr 2014
Mega Contributor
Creditaddict
Posts: 16,869
Registered: ‎10-23-2007

Re: should I keep my Macy's card? "for the instore savings"


gen-specific wrote:

Hello

 

I have a Macy's store card

 

It has a 2400 limit on the Macy's side of the card

It has a 5000 limit on the AMEX side of the card

 

This card

 

a) has my lowest credit limits

b) is reportedly the biggest hassle with Macy's fraud department needing you to call in if you change things online, or plenty of stories about the limit being reduced drastically with no warning, etc

c) is not a real AMEX card where you can do a 3x CLI soft pull after X days

 

 

I have never had a problem with this card, except for the low limits.

 

It helps provide large savings in store at Macys. Although I don't shop much.

 

 

In comparison, I have a real AMEX with a $30,000 limit

 

 

the biggest factor here is the potential headache this card could be, over how low the limit is... given how many people talk about the problems they have had with it.... should I keep my Macy's card?

 

closing it would not adversely affect my AAoA

 

 


How long have you had it and when is the last time you asked for a CLI on both accounts?

Should be SP and you should be able to request any amount you want.... I have gone from $5-10k in past but not sure if that sort of thing has changed in the last couple years but can't imagine completely.

Fico Scores: EQ 620, TU 675 & EX 703 (4-1-14)
Joint Cards: Navy NavCheck $15000, Discover iT $9000, Macy Amex $4000, Macy Store $3000, Macy Furniture $5800
AU: Virgin America $8500, CSP $27,000, Fidelity Amex $25,000, AA Biz $25,000, Barclay USAir Biz $6640
Mine: Navy NavCheck $3000, Kay Jewelry $2700, Pottery Barn $2800, FleetCard MC Biz $1800, HSN $1500, Vitacost MC $1500, Navy Cash $1500 and nRewards $1500, Bill Me Later $772, Cap1 Sony $750, Cap1 Spark $750, Best Buy MC $750, GE 76 Gas $650, Von Maur $600, Cap1 QuickSilver $500, Burbank CU $500, Kohls $300, Target1 $300, Target2 $300, Buckle $250, Express $250, Target3 $200
Member
Ailee92
Posts: 97
Registered: ‎06-09-2013

Re: should I keep my Macy's card? "for the instore savings"

I would like to see what you need to buy to max out your $5,000 card limit at Macy's. Regardless that's not a low limit, and if you actually shop at Macy's and the discounts exceeds BCP's discounts I would just keep it. Doesn't really hurt.

Super Contributor
enharu
Posts: 6,828
Registered: ‎02-27-2013

Re: should I keep my Macy's card? "for the instore savings"


Ailee92 wrote:

I would like to see what you need to buy to max out your $5,000 card limit at Macy's. Regardless that's not a low limit, and if you actually shop at Macy's and the discounts exceeds BCP's discounts I would just keep it. Doesn't really hurt.


Certain Macys stores do sell expensive merchandise, i.e. Louis Vuitton, Chanel, Tag Heuer watches and other luxury brands. Their online store also has some of those watches that can be purchased online. And the good thing is that the 15% discount (usually that's the max for designer brands) applies to them. Bloomingdale's has a bigger selection, but the Macy's card doesn't work there even though they're really the same company, which is kinda stupid. The NM card can be used across all their stores.

 

That being said, I would recommend you keep the card. They do SP CLIs anyways, and the discount is nice especially if you need to buy expensive items.

I wouldn't recommending using that card unless you can PIF though, because the APR rates are equivalent to daylight robbery. 

There used to be this stupid educational finance fee too that gets charged even when you PIF. Not sure if they still do that.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Discover IT (15k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k).
Valued Contributor
indiolatino61
Posts: 1,429
Registered: ‎11-10-2012

Re: should I keep my Macy's card? "for the instore savings"


09Lexie wrote:
Unless you find it difficult to manage, keep it for the few times you shop at Macy's.

+1

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