topic Re: So how does this really work??? in Credit Cards

So how does this really work???

pip3man — Mon, 30 Jun 2014 15:20:41 GMT

I was recently approved for a Macy's American Express store card and called in to have it activated. Then the rep goes like "congrats you have a Macy's line for $1000 and an Macy's American Express credit line for $3000" and I'm like whattttt... that really blew me off. I only applied for and received one credit card. Already checked all 3 credit reports but all I see is the Macy's account listed with a credit limit of $1000, no reference to any $3k or whatsoever. So how does this work cos I can't seem to wrap my head around it?? Could it be a glitch or a mix up? BTW I also tried to recon the $1k limit but no success so it's confusing... Anyone got an idea... Thank you

Re: So how does this really work???

fot1 — Thu, 05 Jun 2014 00:07:09 GMT

I would check all your accounts..

Re: So how does this really work???

pip3man — Thu, 05 Jun 2014 00:13:40 GMT

@fot1 wrote:
I would check all your accounts..

I have checked and as far as I know, there's nothing like $5k showing any where but yeah the $1k as I orginally got approved for is reporting as it should. So I have no idea where this second $5k figure is coming from. My files are all on freeze and no new apps have been made so there's zero possibility another account may have been opened using my identity at this time.

Re: So how does this really work???

bigblue7722 — Thu, 05 Jun 2014 00:16:30 GMT

@pip3man wrote:
@fot1 wrote:
I would check all your accounts..
I have checked and as far as I know, there's nothing like $5k showing any where but yeah the $1k as I orginally got approved for is reporting as it should. So I have no idea where this second $5k figure is coming from. My files are all on freeze and no new apps have been made so there's zero possibility another account may have been opened using my identity at this time.

I cant remember who posted it but someone posted something about macys furniture being a different line than their store card. Its the only thing I can think of.

Re: So how does this really work???

pip3man — Thu, 05 Jun 2014 00:26:20 GMT

Macy's furniture??? Hell naww I never applied for any such thing... even when I applied for the card originally at the store it was at the Men's clothing department, never ever been to their furniture dept. Now this is getting me a little more concerned....

Re: So how does this really work???

Creditaddict — Thu, 05 Jun 2014 00:34:08 GMT

When you apply in store if you don't click the box to "ONLY CONSIDER ME FOR A MACYS STORE ACCOUNT" they will automatically try to approve you for a Macy's American Express (you got!)

So you have 2 seperate credit accounts on 1 card:

When you swipe your card INSIDE a Macy's Store, you will be using your $1k in store credit line and you will receive a bill for that with a minimum due and due date.

If you decide to use the American Express part of your Macy's American Express anywhere outside of a Macy's store, you will be swiping charges against the $5k credit line, it will be it's own billing statement with it's own minimum due and due date.

TWO BILLS, TWO DUE DATES.

lets not even mention furniture right now until you wrap your head around your two new accounts!

Congrats though, many would love the Amex and if you spend enough in store, you will earn WAY better rewards by having the Macy's American Express!!

Re: So how does this really work???

austinguy907 — Thu, 05 Jun 2014 00:39:30 GMT

Macy's give you multiple accounts under a single physical card. Your AMEX side of it will report after the first statment cuts on it a week after typically your store line cuts. Nothing to worry about. You can actually have 4-5 lines tied to the same "card" for AMEX, Store, Furniture, Jewelery, and I think there's a "special" catagory.

Re: So how does this really work???

pip3man — Thu, 05 Jun 2014 00:57:14 GMT

ooh word... thanks alot for the in depth clarification Creditaddict and Austinguy. I would never have known this and the Macy's Associate that even pressured me into applying for this card in the first place never disclosed to me this was the way the card worked. I'm here already thinking someone opened another seperate card in my name with Macy's... feel much relieved now, thank u so much brethren... I appreciate... now I can breathe easy

Re: So how does this really work???

Creditaddict — Thu, 05 Jun 2014 01:01:13 GMT

@pip3man wrote:
ooh word... thanks alot for the in depth clarification Creditaddict and Austinguy. I would never have known this and the Macy's Associate that even pressured me into applying for this card in the first place never disclosed to me this was the way the card worked. I'm here already thinking someone opened another seperate card in my name with Macy's... feel much relieved now, thank u so much brethren... I appreciate... now I can breathe easy

it's rare that any cards are like this.... Bloomingdales is like this and so is Saks World MasterCard but I can't think of any others off the top of my head.

keep in mind despite it being a nice American Express with a $5k line it carries the nasty 24.5% purchase APR no matter what for both store and amex line.... don't carry a balance!!

Re: So how does this really work???

pip3man — Thu, 05 Jun 2014 01:29:53 GMT

24.5% sheeeshhh is this a flat APR charged to all cardholders or is it based off individual credit worthiness? Regardless it's very steep and sure im definitely not gonna charge anything on it. Will act like I dont know it existed but I just hope they dont shut it down on me cos it would be nice to have it around to pad utilization. Thanks for the tips and info.... your a livesaver and very helpful, I appreciate once again! Aside - I never shopped at Bloomingdale's, once in a while I'll get my cologne at Saks but Macy's remains my primary store for purchase.

Re: So how does this really work???

Creditaddict — Thu, 05 Jun 2014 01:34:41 GMT

@pip3man wrote:
24.5% sheeeshhh is this a flat APR charged to all cardholders or is it based off individual credit worthiness? Regardless it's very steep and sure im definitely not gonna charge anything on it. Will act like I dont know it existed but I just hope they dont shut it down on me cos it would be nice to have it around to pad utilization. Thanks for the tips and info.... your a livesaver and very helpful, I appreciate once again! Aside - I never shopped at Bloomingdale's, once in a while I'll get my cologne at Saks but Macy's remains my primary store for purchase.

ALL CARDHOLDERS

use it once in a while... you can get SP CLI on the Amex side just like the store side every 3 months store, 6 months amex... they will ALWAYS tell you it's HP and it's 98% the pull they have on file... id say 99% but i got corrected once

Re: So how does this really work???

pip3man — Thu, 05 Jun 2014 01:53:40 GMT

damn damn thank you so much for the advise, will definitely follow through with ur suggestions. I just looked at ya signature line and noticed u also got the Macy's store and Amex line too hahaha. Maybe a bottle of cologne will go through the AMEX side, clothing and every other thing I will dump on the Macys store line and PIF since prior to this card, I always pay cash for all my Macy's purchases anyways. Will be more useful and happy to see the Macy's side grow than AMEX

Re: So how does this really work???

Creditaddict — Thu, 05 Jun 2014 01:55:02 GMT

@pip3man wrote:
damn damn thank you so much for the advise, will definitely follow through with ur suggestions. I just looked at ya signature line and noticed u also got the Macy's store and Amex line too hahaha. Maybe a bottle of cologne will go through the AMEX side, clothing and every other thing I will dump on the Macys store line and PIF since prior to this card, I always pay cash for all my Macy's purchases anyways. Will be more useful and happy to see the Macy's side grow than AMEX

if you buy the cologne at a different store you can put it on your amex side... all purchase3s at macys go on store, you can't put on amex side.