topic Re: Macy's Card in Credit Cards

Macys Card

Anonymous — Mon, 09 Nov 2009 20:15:49 GMT

Hi boards! Mank and I recently got engaged and have registered at Macy's. They have a rewards program that gives you a gift card for 5% of the purchases off your registry. Neither one of us has a Macy's card, but Mank could use some credit. His score is at 650 right now, with a charge off from Bank of America and 3 defaulted student loans (really one, reporting as 3) but all paid in full. Recently he was approved for a Cabella's card and just 3 months later it was closed by the creditor despite no change in his credit score, so that leaves his BOA 99/500 as his only credit card right now.

Do you think it's a good idea to apply for Macy's? Should he apply for the Visa, or the store card? Who do they pull - I've heard Equifax? What are his chances of approval?

Re: Macys Card

Creditaddict — Tue, 10 Nov 2009 10:13:18 GMT

you should apply. you should apply in store only... apply for visa, it automatically will give you just store if you can't get visa. think they pull EX

Re: Macys Card

Anonymous — Tue, 10 Nov 2009 18:22:10 GMT

That's a neat perk for their wedding registry.

Macy's pulled Experian for me & DH. Is Mank's 650 a FICO score? FICO's for Experian are hard to get, is Mank's Experian, Equifax or TU?

It might be a good idea to clean up Mank's report as best you can. There's some good information on GW and PTD on these boards. Cleaning up his credit reports will be extremely helpful as you start your life as newlyweds. It's a little work, but worth it.

Macy's is one of the easier cards to get. But it still may be good to clean up his report a bit first. Check out how many inquiries are on Experian, and check AAofA. Also, Cabela's pulls from Equifax - so they may have seen something they didn't like that does not show up on Experian.

When both DH & I app'd, we were simply invited to app for a "Macy's" card at the register. I received a store card, DH got a Visa. (My Experian (from a mortgage pull) is a good bit higher than his, too. Go figure!).

Congratulations! Best wishes on your wedding!

Re: Macys Card

Anonymous — Tue, 10 Nov 2009 19:17:59 GMT

Yes, we've done a ridiculous amount of work cleaning 13 other collections off his reports and are now left with the 4 immovable issues that will be on his report for the next few years. I haven't read of anyone having any success with a BOA charge off or Student Loans, but I still tried really hard and continue to bug both places. The 650 is his Equifax FICO. We monitor our reports very closely, and the only difference among his 3 is the number of inquiries.

I was under the impression that Macy's pulled Eq, I wish that they did since that's his least amount of inquiries. His Experian report has 2 inquiries from Dec. '08 so I wish we didn't have to add to that. Oh well, I think it makes sense to add to his credit now so that it can grow with him and his credit can recover from the new accounts for when we need it in the future. As it is now we own our home and we each have newish reliable cars, so there's nothing that will be coming up soon.

Think he should go for it? Is there any chance of getting the Visa? (and thanks for the congrats, beam!)

Re: Macys Card

Anonymous — Tue, 10 Nov 2009 20:03:56 GMT

Wow! You guys are pretty impressive - I say your guy has a pretty good catch!

I hope he gets either the store or the Visa. I actually like the store card quite a bit - unbelievable deals! And it upgrades - so no loss if that's what he goes home with.

I checked CB before I app'd and it gave me hope. Good luck - he's app'ing in store, right?

Re: Macys Card

Anonymous — Tue, 10 Nov 2009 23:47:12 GMT

Without any recent positive credit history, it will be tough to get approved for the Visa. However, the Macy's store card if fairly easy to get approved for an it's worth a shot. Just make you're making a purchase at the time of applying for the card with the cashier.

Re: Macys Card

Anonymous — Wed, 11 Nov 2009 05:05:18 GMT

Very unlikely to be approved for a Macys Visa. It's not that easy a card to get. The store card is easier and a good card to rebuild with. If you are interested make sure you app in store only!

Re: Macys Card

Anonymous — Wed, 11 Nov 2009 19:59:51 GMT

So it sounds like everyone thinks he should app in store, lol. Does it really make that big of a difference? Do the cashiers have sway over approval?

Re: Macys Card

Anonymous — Wed, 11 Nov 2009 22:21:37 GMT

@Anonymous wrote:
So it sounds like everyone thinks he should app in store, lol. Does it really make that big of a difference? Do the cashiers have sway over approval?

Either that, or we'll all sadistic and want people to go through the absolutely terrifying exercise of app'n in store just for the thrill (and because we went through it! Share the pain, ya'know. We should have a you-tube page so we can post video! Mine would be the funniest - I had to psych myself up for a week or so. Sort of like myfico initiations...........

Where I live, we still have snipe hunting and cow tipping.

Actually, you do better app'ing in store - several posts on different threads on this. Cashiers have no sway - it's just the system. credit (and others) will respond to this, I'm sure.

Re: Macys Card

Anonymous — Thu, 12 Nov 2009 04:12:30 GMT

@Anonymous wrote:
So it sounds like everyone thinks he should app in store, lol. Does it really make that big of a difference? Do the cashiers have sway over approval?

It has been mentioned (on another board) by a Macy's insider that accounts issued based on online applications are permanently branded and thereby relegated to a lower status. Online credit approvals are for lower CL's. (As low as $100.) You cannot get a Macy's Visa via online app. The insider has gone a far as to state that store cards app'ed online and approved will never be converted to Macy's Visas. (There is some evidence that this is not quite true.)

Meanwhile you can't prove any of it by me - my original account was most likely opened in a store over 30 years ago, but my current account was opened as part of a rehab program. Macy's has be wonderful to me and was a cornerstone of my credit recovery. I now have a Macy's store account, GL = $3.7K and Macy's Visa = $4K. Since their cards have such tremendous growth potential there's no reason to handicap yourself by app'ing online. Just go in the store and pull the trigger.

Re: Macys Card

Anonymous — Thu, 12 Nov 2009 18:19:21 GMT

Thanks for the insight CWCD. We'll go in this weekend and I'll let everyone know how it goes. What do you mean when you say it was opened as part of a rehab program? Was your original account defaulted but then they gave you another to start proving yourself?

Re: Macys Card

Anonymous — Thu, 12 Nov 2009 21:26:29 GMT

@Anonymous wrote:
Thanks for the insight CWCD. We'll go in this weekend and I'll let everyone know how it goes. What do you mean when you say it was opened as part of a rehab program? Was your original account defaulted but then they gave you another to start proving yourself?

That's pretty much it exactly! I was once bad and Macy's gave me a second chance (provided I made good on what I owed them). It was a great deal and ever since I've been good for them and they've been great for me! Macy's rehab's have been discussed on this site on many occasions.

Re: Macy's Card

Anonymous — Tue, 31 Aug 2010 09:59:02 GMT

I applied for a Macy's card online before I read the many blogs on this site....I got an email message with the famous statement "Your application takes a little longer to process, you will hear from us in 7-10 days"...I ran across your blog and was curious how your appl turned out. I applied for a AMEX Zync and got instant approval, since I have no department store cards I applied for Dillards....I was DENIED! I was shocked........But I am trying to get a department store card so I show low utilization and pay in full so I applied to Macy's..........Does anyone know if Macy's approvals are really different online versus in-store????

Re: Macy's Card

nathan — Wed, 01 Sep 2010 01:59:12 GMT

If you apply in store and your score is pretty good, there is a great chance they will offer you the visa too. This happened to me a year ago. I applied in store and was approved for 2500k and 6k visa. my exp was 765.

Re: Macy's Card

Anonymous — Wed, 01 Sep 2010 03:50:47 GMT

@Anonymous wrote:
I applied for a Macy's card online before I read the many blogs on this site....I got an email message with the famous statement "Your application takes a little longer to process, you will hear from us in 7-10 days"...I ran across your blog and was curious how your appl turned out. I applied for a AMEX Zync and got instant approval, since I have no department store cards I applied for Dillards....I was DENIED! I was shocked........But I am trying to get a department store card so I show low utilization and pay in full so I applied to Macy's..........Does anyone know if Macy's approvals are really different online versus in-store????

Hmmm. That's something of a shocker.

Did you get your Dillard's rejection letter yet? What did it cite as the reasons for not accepting you?

Not knowing what is on the letter, I think I would call and recon.

Have they become tighter????