topic Re: Macy Credit Card Will not go past 25K ??? in Credit Card Applications

Macy Credit Card Will not go past 25K ???

Anonymous — Thu, 02 May 2019 23:46:11 GMT

Can Anyone think of a reasoning ???

Re: Macy Credit Card Will not go past 25K ???

AverageJoesCredit — Thu, 02 May 2019 23:48:02 GMT

Yes, you need to provide Proof of Income for anything higher.

Re: Macy Credit Card Will not go past 25K ???

Anonymous — Fri, 03 May 2019 00:04:17 GMT

they never ask for poi though ?

Re: Macy Credit Card Will not go past 25K ???

pinkandgrey — Fri, 03 May 2019 00:13:15 GMT

Even if they really won’t go past that, 25k is a heck of a limit lol The things you could do at Macy’s with 25k of available credit....

Re: Macy Credit Card Will not go past 25K ???

Anonymous — Fri, 03 May 2019 00:27:32 GMT

That’s kind of the point though. Why would you need more than $25K at Macy’s?

Re: Macy Credit Card Will not go past 25K ???

FinStar — Fri, 03 May 2019 01:22:44 GMT

Is this the store or the AmEx version? Both of mine are above $25K. However, I do use them periodically and for sizable charges.

What's the highest charge or balance you've had OP?

Re: Macy Credit Card Will not go past 25K ???

Anonymous — Fri, 03 May 2019 01:24:16 GMT

utalization

Re: Macy Credit Card Will not go past 25K ???

Anonymous — Fri, 03 May 2019 01:25:16 GMT

store version & 3.5k on a bedroom set

Re: Macy Credit Card Will not go past 25K ???

AverageJoesCredit — Fri, 03 May 2019 01:41:14 GMT

Believe me, if you call in and ask for more than 25k, they will want poi. hey ,25k without it is awesome. I get to live in @FinStar 's world for a moment sporting a 25k Macys Amex. I roll like that when i buy my Tommy boxers

Re: Macy Credit Card Will not go past 25K ???

Anonymous — Fri, 03 May 2019 01:43:23 GMT

Re: Macy Credit Card Will not go past 25K ???

FinStar — Fri, 03 May 2019 01:48:13 GMT

Anything above $25K typically requires management (internal) override and that's not really realistic if (a) you don't use the card to the extent it hovers even above 5K on a periodic basis, and (b) there's been instances where POI *may* be required in addition to a HP.

It sounds to me like the system won't allow your request because you do not meet their internal criteria for a CLI above $25K.

Re: Macy Credit Card Will not go past 25K ???

Anonymous — Fri, 03 May 2019 01:56:12 GMT

im mad i still have not recived the option too upgrade too the amex in the mail yet

Re: Macy Credit Card Will not go past 25K ???

FinStar — Fri, 03 May 2019 02:00:51 GMT

No need to take credit situations that personal or be "mad" because the option to upgrade hasn't really materialized.

Things take time and targeted offers are selectively sent to those who qualify. If you exercise patience then those opportunities will come to fruition.

Re: Macy Credit Card Will not go past 25K ???

wasCB14 — Fri, 03 May 2019 02:20:40 GMT

@pinkandgrey wrote:
Even if they really won’t go past that, 25k is a heck of a limit lol The things you could do at Macy’s with 25k of available credit....

@Anonymous wrote:
That’s kind of the point though. Why would you need more than $25K at Macy’s?

That was my thinking, too. People who spend $25k at department stores over a month or two are probably shopping at higher-end places like Saks or NM.

Plus, with that kind of income, they probably have a charge card or high/soft-limit revolver. If they want full loyalty and reward points, though, POI could help.

At the other extreme, Brooks Brothers gave me a store card years ago with a $1,260 SL. Half of their suits were more than that!

Re: Macy Credit Card Will not go past 25K ???

Anonymous — Fri, 03 May 2019 03:04:14 GMT

@Anonymous wrote:
im mad i still have not recived the option too upgrade too the amex in the mail yet

There is more inherent risk with a major credit card than a closed loop store card. If you hit the garden for awhile and let your accounts age and inquiries fall, it’s much more likely you’ll be upgraded. I can’t see it happening as long as you’re displaying the risky credit seeking behavior though — and I’m not trying to be critical. I had a rude awakening of my own with my addition of 6 accounts in the last 6 months on a dirty file and will probably be digging in the garden dirt for awhile myself.

Re: Macy Credit Card Will not go past 25K ???

Anonymous — Fri, 03 May 2019 03:09:56 GMT

lol im not app for anything eles any time soon

Re: Macy Credit Card Will not go past 25K ???

wasCB14 — Fri, 03 May 2019 03:29:28 GMT

@Anonymous wrote:
@Anonymous wrote:
im mad i still have not recived the option too upgrade too the amex in the mail yet
There is more inherent risk with a major credit card than a closed loop store card. If you hit the garden for awhile and let your accounts age and inquiries fall, it’s much more likely you’ll be upgraded. I can’t see it happening as long as you’re displaying the risky credit seeking behavior though — and I’m not trying to be critical. I had a rude awakening of my own with my addition of 6 accounts in the last 6 months on a dirty file and will probably be digging in the garden dirt for awhile myself.

It also depends on who is doing the lending - the retailer or a third party.

Part of why Signet (Jared, Kay, others) once had such relaxed standards is that the retailer was issuing the credit. On a $1000 credit transaction, the retailer got a $1000 loan receivable but really only had about $600 of product costs at risk. A third-party bank, however, has to give the full $1000 to the retailer (less transaction processing fees) so has much more at risk.