topic Re: Macy's Major Purchase Account in Credit Cards

Macy's Major Purchase Account

corymcd88 — Sat, 25 Feb 2012 19:24:16 GMT

How does the Macy's Major Purchase Account report to the CB's. I was told it reports as a installment account then a revolving account. Is this true?

Re: Macy's Major Purchase Account

MS00000000 — Sat, 25 Feb 2012 21:50:13 GMT

I've never seen mine show up at all on my TU or EQ. I had one for a sofa purchase and it's been a year this month and the only thing that ever showed up was the regular Macy's account with whatever balance that had on it at the time. I never saw the separate line with the balance for the sofa.

Re: Macy's Major Purchase Account

Creditaddict — Sun, 26 Feb 2012 00:54:15 GMT

I believe installment/charge is correct.... it has never been in my util.

Re: Macy's Major Purchase Account

corymcd88 — Sun, 26 Feb 2012 05:23:22 GMT

@Creditaddict wrote:
I believe installment/charge is correct.... It has never been in my util.

I hope I get something for it to report to CB's, Macy's is very vege about what will happen and if it will show a CL.

Re: Macy's Major Purchase Account

LS2982 — Sun, 26 Feb 2012 14:09:07 GMT

Has Macy's started to report CL's across the board yet?

Re: Macy's Major Purchase Account

DanielF — Sun, 26 Feb 2012 14:24:24 GMT

Talked to about three people there this week and I dont think they have a clue when or iff they will report

Re: Macy's Major Purchase Account

LS2982 — Sun, 26 Feb 2012 14:36:36 GMT

@DanielF wrote:
Talked to about three people there this week and I dont think they have a clue when or iff they will report

Thats some pretty vital info. for new and current cardholders.

Re: Macy's Major Purchase Account

corymcd88 — Sun, 26 Feb 2012 15:11:40 GMT

@LS2982 wrote:
Has Macy's started to report CL's across the board yet?

Not for me as of yet. 19 Feb 2012.

Re: Macy's Major Purchase Account

LS2982 — Sun, 26 Feb 2012 15:13:40 GMT

@corymcd88 wrote:
@LS2982 wrote:
Has Macy's started to report CL's across the board yet?
Not for me as of yet. 19 Feb 2012.

You said Macy's Major Purchase Account, is there different types of accounts with them?? (I know they have AMEX co-brand but a different Macys card for small usage?)

Re: Macy's Major Purchase Account

corymcd88 — Sun, 26 Feb 2012 15:15:10 GMT

@DanielF wrote:
Talked to about three people there this week and I don't think they have a clue when or if they will report

Same hear. I'm trying to get Macy's AMEX and I keep trying to needing to verify the alert on my report over and over again. No one seams to do it right.

Re: Macy's Major Purchase Account

DanielF — Sun, 26 Feb 2012 15:15:45 GMT

Whats frustrating about it is the wide range of answers. One will tell you one thing and another somthing different. It trully is not a complicated situation or question. Are you going to report and if so when.

Re: Macy's Major Purchase Account

LS2982 — Sun, 26 Feb 2012 15:17:36 GMT

@DanielF wrote:
Whats frustrating about it is the wide range of answers. One will tell you one thing and another somthing different. It trully is not a complicated situation or question. Are you going to report and if so when.

I'm sure that is turning people off of this card if you are familiar with these forums. My DW loves Macy's but I won't touch this card with a 10 foot pole until I know for sure for the future.

Re: Macy's Major Purchase Account

DanielF — Sun, 26 Feb 2012 15:33:07 GMT

This is by far my oldest card... opened in 1995 and continued reporting through my BK. So I am very concerned how it will eventually show on the CB's. I just wished people at Macy's realized that many people financially plan around what they know and are told. Up until this recent announcement it really made no difference what balance you carried on the card because it didnt factor into util, but now they announce the change and tell everyone Feb 1st they would report so I'm sure there were many people who made an attempt to drastically lower that balance over the course of a month. Then Feb 1 comes and no reporting. Now they say Mar 1st but still not sure because it was abrubt that they changed the Feb 1 date. Who knows. I've done everthing I can personally do to lower the balance and raise my guideline under the current rules. Now its just wait and see.

Re: Macy's Major Purchase Account

mxp114 — Sun, 26 Feb 2012 19:32:51 GMT

Each Macy's account will report seperately and with their own opening date, they do not backdate. Revolving, Major Purchase Account, Club plan, and Special Event Account. They all report as revolving, not installment.

More info at official site @ https://customerservice.macys.com/app/answers/detail/a_id/5/~/how-is-my-macy's-credit-card-account-reported-to-the-credit-bureaus%3F

Re: Macy's Major Purchase Account

Creditaddict — Sun, 26 Feb 2012 20:49:58 GMT

@mxp114 wrote:
Each Macy's account will report seperately and with their own opening date, they do not backdate. Revolving, Major Purchase Account, Club plan, and Special Event Account. They all report as revolving, not installment.

@More info at official site @ https://customerservice.macys.com/app/answers/detail/a_id/5/~/how-is-my-macy's-credit-card-account-reported-to-the-credit-bureaus%3F

I see most of the accounts on CR from Macy's are in fact "Revolving/ or Option"

However currently my store card is reporting as "Charge" but when Limit returns it should start reporting as "Revolving" again.

Re: Macy's Major Purchase Account

mxp114 — Sun, 26 Feb 2012 20:54:51 GMT

Yeah they can add that comment to the tradeline but OP was asking if installment, which is a specific account reporting type. I have three with Macy's and all report as revolving.

Re: Macy's Major Purchase Account

corymcd88 — Mon, 27 Feb 2012 15:17:24 GMT

@LS2982 wrote:
@corymcd88 wrote:
@LS2982 wrote:
Has Macy's started to report CL's across the board yet?
Not for me as of yet. 19 Feb 2012.
You said Macy's Major Purchase Account, is there different types of accounts with them?? (I know they have AMEX co-brand but a different Macys card for small usage?)

What Macys saids that it is almost like a bank loan, you use it one and to get a new one you have to apply. This is the first one for me with macys. They did not pull any credit for it i checked all the CB and no SP or HP. If I get one and pay it with out anything i'm sure they will give me more!

Re: Macy's Major Purchase Account

llecs — Mon, 27 Feb 2012 16:04:32 GMT

OP, I have/had reporting the store charge card, a major purchase account, and a special event account. The store card was opened in 2007 followed by the major purchase and special event accounts a year later. I cannot remember if there was a hard pull for the subsequent account.

The store card stopped reporting CLs in 2010. Prior to their change I thought it reported as a "charge" account in the account type field on my CRs. It now reports as revolving with "charge' in the comments.

The major purchase account was opened in error by Macys in 2008 and never ever reported a balance. It used to report monthly but stopped in May of 2010 when Macys changed their reporting to no CLs. I asked them about it once and they said it was a mistake and offered to delete. I figured that in a few years, it'll still report and would help my length of history if I keep adding new TLs. It reports with a $0 balance as a revolving account with "Charge" in the comments.

The special event account was opened for a bed in 2008. I think it reported as revolving or charge, but disappeared when Macys changed away from reporting CLs. I have since reopened it about a year ago for a new bed and furniture and never reported again. When it did report, the account never reported a CL, but did report a high balance. EX and EQ FICOs ignored the balance on this account. TU98 (as found on here) included this account into CC util using the balance and high balance. Newer TU FICO versions like TU04 (used by most mortgage lenders) and TU08 (e.g. WalMart FICO), exclude it.