topic Re: Macy's Pay Off???? in Credit Cards

Macy's Pay Off????

BobbyJ — Sat, 05 Mar 2011 15:52:35 GMT

Hello,

I am torn between paying of my Macys card $684 or using that money to pay down another card. I have heard many times on here that Macys does not figure into to utilization right now so is it best to leave that balance alone and pay another card? Will paying off Macys do anything for boosting my credit score at this time?

Thanks,

Bobby

Re: Macy's Pay Off????

vish1 — Sat, 05 Mar 2011 16:11:59 GMT

@BobbyJ wrote:
Hello,
I am torn between paying of my Macys card $684 or using that money to pay down another card. I have heard many times on here that Macys does not figure into to utilization right now so is it best to leave that balance alone and pay another card? Will paying off Macys do anything for boosting my credit score at this time?

Thanks,
Bobby

What do you want to achieve? Are you looking to save money or increase your score? If you are looking to increase your score, what is this for? New card? Auto? Home?

You also need to indicate what your other credit accounts look like.

Re: Macy's Pay Off????

BobbyJ — Sat, 05 Mar 2011 16:26:19 GMT

Mainly looking to increase score. I have 4 other cards with high utilization. Not looking to buy, although I may finance my auto with NFCU in the next few months so I trying to increase my score.

Re: Macy's Pay Off????

BobbyJ — Sat, 05 Mar 2011 17:46:28 GMT

So, does it benefit me to pay off my Macys for scoring purposes? Should I leave the balance and focus on my other 4 accounts? Anyone?

Re: Macy's Pay Off????

vish1 — Sat, 05 Mar 2011 17:51:52 GMT

You should pay the highest util cards first.

Re: Macy's Pay Off????

Anonymous — Sat, 12 Mar 2011 20:42:19 GMT

Don't pay off your Macy's, instead pay off/down one of your higher utilized cards first, to help your score! Macy's and Bloomingdales don't report CL and will not influence your card utilization.

Re: Macy's Pay Off????

Anonymous — Sat, 12 Mar 2011 20:51:57 GMT

@Anonymous wrote:
Don't pay off your Macy's, instead pay off/down one of your higher utilized cards first, to help your score! Macy's and Bloomingdales don't report CL and will not influence your card utilization.

JUST REMEMBER TO MAKE YOUR MINIMUM MACYS PAYMENT

Re: Macy's Pay Off????

danisgods — Sun, 13 Mar 2011 05:46:16 GMT

macys interest rate is crazy high, think about it....

Re: Macy's Pay Off????

tsquad131 — Sun, 13 Mar 2011 06:17:53 GMT

yeah i just checked my macys statement and looked at the bottom the interest rate is 25%!!! that is just highway robbery I never will carry a balance on that card or any card unless its one of my CU cards which is a 8.9% interest rate