topic Re: Macy's Card in Credit Cards

Macy's Card

Anonymous — Thu, 07 Mar 2013 00:22:01 GMT

Is the Macy's card a great way for someone who has no credit to start building it? And if so, how would one go about doing so?

Re: Macy's Card

Anonymous — Thu, 07 Mar 2013 00:46:59 GMT

I have a Macy's card and I can tell you it's an easy card to get. However it's a horrible card. There's No rewards and u can only spend it at Macy's.

Just get those credit builder cards or college cards (if your a college student) and work it up from there.

You can get secured cards and use it for a few months until the banks graduate you to unsecured, or you can try to get unsecured right away from banks like capitalone, orchard bank, etc. make sure you read up about the entire fee structure before you apply for anytiinf

Re: Macy's Card

jsucool76 — Thu, 07 Mar 2013 00:53:54 GMT

Macys is issued by citi.

I wouldn't say it is easy to qualify for, and i dont know if you could get it with no history.

Also to what the previous poster said,

You can use a macys amex anywhere amex is accepted, you just only qualified for the store card.

Re: Macy's Card

Anonymous — Thu, 07 Mar 2013 01:03:02 GMT

The thing is, I applied for 3 other cards (chase freedom, discover it for students, and the capital one journey card) all of which I was denied. I dont think it'd be a good idea to apply for another card so this is currently my only option to build credit with(to my knowledge). I believe I in fact do have the store card and I had no credit history prior to getting it.

Re: Macy's Card

jsucool76 — Thu, 07 Mar 2013 01:15:54 GMT

@Anonymous wrote:
The thing is, I applied for 3 other cards (chase freedom, discover it for students, and the capital one journey card) all of which I was denied. I dont think it'd be a good idea to apply for another card so this is currently my only option to build credit with(to my knowledge). I believe I in fact do have the store card and I had no credit history prior to getting it.

what is your annual income if you don't mind me asking?

Re: Macy's Card

Anonymous — Thu, 07 Mar 2013 01:19:50 GMT

Im in college full time but with my part time job I make around 7250 dollars a year and when I come home for the breaks I generally do heating and air jobs with my dad so maybe another 3000 or so tacked on that.

Re: Macy's Card

jsucool76 — Thu, 07 Mar 2013 01:24:42 GMT

@Anonymous wrote:
Im in college full time but with my part time job I make around 7250 dollars a year and when I come home for the breaks I generally do heating and air jobs with my dad so maybe another 3000 or so tacked on that.

Do you pay rent in an apartment or anything?

Income is kind of low, and then if you paid rent that would eat most of your income which would probably account for the denials. If you receive grants or scholarships, some student cards will allow you to add them to your income, but other than that you might be out of luck for anything besides a secured card.

Re: Macy's Card

navigatethis12 — Thu, 07 Mar 2013 01:30:08 GMT

Macys was the first card I was approved for and I am glad that I went for it. I shop a lot at Macy's so it was a good choice. It started at $300 and is now at $3000, while the American Express branded one is at 10000 only about three years later. If you shop there I see no reason not to get it. The store version may not have rewards but it does give you coupons and it will still build credit.

Re: Macy's Card

Anonymous — Thu, 07 Mar 2013 01:30:23 GMT

I live in student housing. What secured card would you recommend for me?

Re: Macy's Card

jsucool76 — Thu, 07 Mar 2013 01:32:32 GMT

@Anonymous wrote:
I live in student housing. What secured card would you recommend for me?

Do you have a banking relationship with anyone?

the two best secured cards are probably the capital one secured (since it doesn't report with the "Secured" notation, but they pull all 3 reports) and the Bank of America Secured (since you can get the 1-2-3 rewards added onto it).

When I applied for the capital one card I was denied for it , but a few months later they approved me for an unsecured card, so I don't really know what their criteria is.

Re: Macy's Card

Anonymous — Thu, 07 Mar 2013 01:43:14 GMT

I have bank accounts with chase.

Re: Macy's Card

jsucool76 — Thu, 07 Mar 2013 01:47:05 GMT

Chase doesn't really offer any products you would qualify for.

If you live in an area with wells fargo branches you could open a college combo with a small deposit ($100) and then see if you're pre-approved for their college cash back visa or their secured card or something. I went in with nothing on my reports but student loans and inquiries and they approved me for $600 on the spot. The college cash back visa only has a minimum income requprement of $3,000, however you'll almost surely be denied if you don't open an account with them.

Re: Macy's Card

Rhaeny — Thu, 07 Mar 2013 01:51:22 GMT

@Anonymous wrote:
I have a Macy's card and I can tell you it's an easy card to get. However it's a horrible card. There's No rewards and u can only spend it at Macy's.

Just get those credit builder cards or college cards (if your a college student) and work it up from there.

You can get secured cards and use it for a few months until the banks graduate you to unsecured, or you can try to get unsecured right away from banks like capitalone, orchard bank, etc. make sure you read up about the entire fee structure before you apply for anytiinf

I have Macy's and I have gotten some of THEE best deals with Macy's because they have rock bottom sales and then they also send out 20% coupons of which I always keep in my purse. I have purchased designer clothing for much as much as 60% off such as Ralph Lauren or Jones New York. I mean that is like a $120 piece for $50 bucks. On top of that I also received $120 cash back (store gift card) a few weeks ago for being in their Thanks For Sharing club. I can buy $400 worth of stuff by using that gift card and my 20% off coupons and catching something already on sale at 50% off. I can walk out of the store without spending one penny by doing that so in IMO Macy's is not bad.

The interest is horrible on just about any store card and yep that includes Macy's, but you can only get those deals by being a Macy's card holder. Besides, I PIF so the interest rate doesn't bother me.

Re: Macy's Card

Anonymous — Thu, 07 Mar 2013 01:58:11 GMT

@jsucool76 wrote:
Chase doesn't really offer any products you would qualify for.

If you live in an area with wells fargo branches you could open a college combo with a small deposit ($100) and then see if you're pre-approved for their college cash back visa or their secured card or something. I went in with nothing on my reports but student loans and inquiries and they approved me for $600 on the spot. The college cash back visa only has a minimum income requprement of $3,000, however you'll almost surely be denied if you don't open an account with them.

Thanks for the advice, this seems like the route I'll attempt to take. And yeah the Macy's card has a ton of awesome deals.

Re: Macy's Card

jsucool76 — Thu, 07 Mar 2013 02:18:55 GMT

+1 to rhaeny

My sister has a macys card and loves all the coupons and stuff she gets.

Re: Macy's Card

Rhaeny — Thu, 07 Mar 2013 02:48:11 GMT

BTW, I was told before by a csr that it is best to apply in store and not online especially if you might be a borderline approval. She said that you because you are there wih identification that it makes a difference. I applied in store in October and was instantly approved and I have a bk on my file. What are your scores and what does your credit hisory look like?

Re: Macy's Card

jayrock24 — Thu, 07 Mar 2013 03:01:58 GMT

get you a fingerhut card order a t shirt and pay the lil 5 dollars a month 4 about 6 months and then you should be all set mines went from 250 to 1000 in 3 months then 1350 at 6 payment that was 2 plus years agoo then i payed of and never use again but atleast u can get history without all the annual and intrest fees plus monthly paymen is rather low good luck

Re: Macy's Card

Anonymous — Thu, 07 Mar 2013 03:27:14 GMT

I dont have a score yet as I got my Macys card back in Dec 2012. Thats another route I could travel jayrock24.

Re: Macy's Card

mnavas — Thu, 07 Mar 2013 03:42:39 GMT

@Anonymous wrote:
Is the Macy's card a great way for someone who has no credit to start building it? And if so, how would one go about doing so?

I applied for a Macys card when i had zero credit on my own. This is what i did:

-I asked my mom to add me as an AU on her Macys Store (she opened that card in Nov 2001 so technically that gave a score)

- A month after i checked my reports to make sure that acc was being reported and it was...

- I headed to the store and decided to apply when the Sales person was telling me about the discounts this card offered. I got approved for only $100 CL (6 months after i got an auto CLI of $1900)

My next move was to open two secured cards: Wells fargo ($2000) and Cap 1 ($500) and after having these cards for a year i was able to get a discover card, an Amex BCE and upgraded my Macys Store to Macys Amex (They gave me $6000)

I only make $20,000 anually FWIW

It takes time to build credit.... and yes the Macys Store is a good option to start building credit just make sure you have at least AU accounts on your credit file otherwise you'll get denied

Re: Macy's Card

jayrock24 — Sat, 09 Mar 2013 18:24:21 GMT

yea fingerhut is easy to get and even if u miss a payment or pay late they still report good so worth a try just to get a score and more utilization