topic Re: Macy's CLI after calling to close account, due to two previous CLI declines in Credit Cards

Macy's CLI after calling to close account, due to two previous CLI declines

TatorTodd — Thu, 15 May 2014 17:58:58 GMT

I've had my Macy's card for over a year, and after asking twice for CLI's and being declined, knowing that I would not use it anymore, decided yesterday to close the account all together. Once I gave my reason for closing, they offered me a 2k limit, from my current $300. I told them I would still like more, as my JCP is twice that, and Nordstrom 3 times that, but she said she couldnt. So, for now I chose to keep it. Thought this informatin would be useful for anyone having issues getting CLI's with them

Re: Macy's CLI after calling to close account, due to two previous CLI declines

MadTechnologist — Thu, 15 May 2014 18:10:47 GMT

I also know Macy's likes to see frequent use of the card to get better credit limits. My dad had 1 and would use his all the time and always carried a balance, but they kept giving him CLIs and even a separate account for bigger purchases like Jewelry and such. He's a shopaholic while I'm far more conservative with my spending and I never got any CLIs with my card, even though I rarely used it. I would've been angry if not for the fact that I pretty much hate shopping, so it never really bothered me. But from what I hear on the forums, most CLIs from Macy's comes from frequent usage.

Re: Macy's CLI after calling to close account, due to two previous CLI declines

-Wade- — Thu, 15 May 2014 18:47:34 GMT

@TatorTodd wrote:
I've had my Macy's card for over a year, and after asking twice for CLI's and being declined, knowing that I would not use it anymore, decided yesterday to close the account all together. Once I gave my reason for closing, they offered me a 2k limit, from my current $300. I told them I would still like more, as my JCP is twice that, and Nordstrom 3 times that, but she said she couldnt. So, for now I chose to keep it. Thought this informatin would be useful for anyone having issues getting CLI's with them

Very well done !!! Congrats on your CLI

Re: Macy's CLI after calling to close account, due to two previous CLI declines

gdale6 — Thu, 15 May 2014 20:55:25 GMT

@TatorTodd wrote:
I've had my Macy's card for over a year, and after asking twice for CLI's and being declined, knowing that I would not use it anymore, decided yesterday to close the account all together. Once I gave my reason for closing, they offered me a 2k limit, from my current $300. I told them I would still like more, as my JCP is twice that, and Nordstrom 3 times that, but she said she couldnt. So, for now I chose to keep it. Thought this informatin would be useful for anyone having issues getting CLI's with them

Grats on your CLI:

Let me give you a tip on closing a card. FICO considers them new for 24 months, in order to get the best FICO out of a TL it needs to report for at least 24 months prior to closure. My rule on card closings is dont do it if there is no AF involved just SD them and let the grantor close for non use if you really dont want it anymore. The closed by grantor comment on your CRs tends to get overblown it means nothing if the account closed in complete good standing.

Re: Macy's CLI after calling to close account, due to two previous CLI declines

Anonymous — Thu, 15 May 2014 21:17:26 GMT

Congrats!

Re: Macy's CLI after calling to close account, due to two previous CLI declines

SunriseEarth — Thu, 15 May 2014 21:28:06 GMT

@TatorTodd wrote:
I've had my Macy's card for over a year, and after asking twice for CLI's and being declined, knowing that I would not use it anymore, decided yesterday to close the account all together. Once I gave my reason for closing, they offered me a 2k limit, from my current $300. I told them I would still like more, as my JCP is twice that, and Nordstrom 3 times that, but she said she couldnt. So, for now I chose to keep it. Thought this informatin would be useful for anyone having issues getting CLI's with them

Congrats on CLI! Some call this the "nuclear option," where you threaten to close a card in order to get the terms you want. I haven't used the "nuclear option" since pre-BK. It actually worked for all of my lenders except AMEX back then.

Re: Macy's CLI after calling to close account, due to two previous CLI declines

NoAnchoviesPlease — Fri, 16 May 2014 15:21:06 GMT

I haven't done nuclear option... much as with a job or a SO, if you're ready to threaten to leave, you may as well leave. But it's cool that it works for some.

I just got a $400 CLI from Macy's, said "hey I'd like to spend $5k on furniture with you" and they said "how about $1500" and I took it, will shop around more though now

Re: Macy's CLI after calling to close account, due to two previous CLI declines

MissMoni223 — Fri, 16 May 2014 18:32:03 GMT

Soooo, you've cracked the code on how to get a BIG CLI in 1 phone call. . . CONGRATS!!!

Re: Macy's CLI after calling to close account, due to two previous CLI declines

SunriseEarth — Fri, 16 May 2014 19:59:31 GMT

@NoAnchoviesPlease wrote:
I haven't done nuclear option... much as with a job or a SO, if you're ready to threaten to leave, you may as well leave. But it's cool that it works for some.

I just got a $400 CLI from Macy's, said "hey I'd like to spend $5k on furniture with you" and they said "how about $1500" and I took it, will shop around more though now

+1. I wouldn't suggest using the "nuclear option" unless you're actually OK with closing the CC (or quitting the job, leaving the SO, etc.)

Re: Macy's CLI after calling to close account, due to two previous CLI declines

alvon123 — Sat, 17 May 2014 12:22:06 GMT

congrats on the increase