topic Re: Questions about Macy's Special Accounts in Credit Cards

Questions about Macy's Special Accounts

sarux3 — Tue, 30 Sep 2014 12:55:53 GMT

I went in to Macy's yesterday to see if I could find a nice anniversary gift for DW at the jewelry counter, completely unaware that they were running a pre-sale on jewelry, including half-off a ring that I'd been eyeing but thought was too expensive. Needless to say, I took a final "this is the last time you guys I swear" plunge and opened a Special Accounts line to my Macy's card, made my purchase (the ring plus a less expensive pendant necklace to bring the purchase price up to qualify for the 24-month 0% financing), and later got on live chat to find out what CL the jewelry line was.

And that's where the inconvenience begins. Turns out the CL was $2100 -- not a bad line but in the face of a $1800 purchase (incl tax and protection plan on the ring), it presented a utilization problem (85%, ugh). First thing I tried was to have them recon the CL but that was a no-go: the system wouldn't let them because the account was brand new. I'm considering returning the necklace to recoup $200, but will that cause me to lose the financing (dipping the merch total below the $1500 threshold)? A large payment now is an obvious solution but it seems like I can't pay just to the Special Accounts as it's tethered to the main store account, and I've got about $400 on that right now so I'd have to pay that down entirely before payments can go to The jewelry line with the 0%, right (per the CC Act)?

It looks like the store card and Special Accounts, though reported separately, are billed on the same statement with the same due date, is that right? If so, does that give me a bit of time until the jewelry line is reported to the CCBs? Payment due date on the store line is Oct 18.

Re: Questions about Macy's Special Accounts

sarux3 — Tue, 30 Sep 2014 13:36:05 GMT

Also, how is the Special Accounts line typically reported? As a revolver or installment?

Re: Questions about Macy's Special Accounts

Creditaddict — Tue, 30 Sep 2014 13:39:09 GMT

your overall utility is just fine by the looks of it so I wouldn't worry about a few months with 1 account showing higher util.

it's reported as revolving I do believe

If you go into store to make payments (which you can do with a debit card too) you can dictate to them which account you want to pay on I do believe, otherwise once you make a payment you can call in and have them move the payment from your store account to the special events account.

Re: Questions about Macy's Special Accounts

sarux3 — Tue, 30 Sep 2014 13:44:58 GMT

Thanks CA, you're the best! I was starting to panic a little about how my other accounts would react when a brand new revolver shows up with such high util right away.

Re: Questions about Macy's Special Accounts

credit_challenged09 — Thu, 02 Oct 2014 21:05:48 GMT

@sarux3 wrote:
I went in to Macy's yesterday to see if I could find a nice anniversary gift for DW at the jewelry counter, completely unaware that they were running a pre-sale on jewelry, including half-off a ring that I'd been eyeing but thought was too expensive. Needless to say, I took a final "this is the last time you guys I swear" plunge and opened a Special Accounts line to my Macy's card, made my purchase (the ring plus a less expensive pendant necklace to bring the purchase price up to qualify for the 24-month 0% financing), and later got on live chat to find out what CL the jewelry line was.

And that's where the inconvenience begins. Turns out the CL was $2100 -- not a bad line but in the face of a $1800 purchase (incl tax and protection plan on the ring), it presented a utilization problem (85%, ugh). First thing I tried was to have them recon the CL but that was a no-go: the system wouldn't let them because the account was brand new. I'm considering returning the necklace to recoup $200, but will that cause me to lose the financing (dipping the merch total below the $1500 threshold)? A large payment now is an obvious solution but it seems like I can't pay just to the Special Accounts as it's tethered to the main store account, and I've got about $400 on that right now so I'd have to pay that down entirely before payments can go to The jewelry line with the 0%, right (per the CC Act)?

It looks like the store card and Special Accounts, though reported separately, are billed on the same statement with the same due date, is that right? If so, does that give me a bit of time until the jewelry line is reported to the CCBs? Payment due date on the store line is Oct 18.

I bought furniture from them last November/December - used the Special Event Purchase account. I was told the account would report to the credit bureau, it never did. I've since paid off my furniture and have not seen or heard a lick on my credit report about the special event account.

My advice about making payments while using the regular revolving account. What I would do is make a large payment, X payment for revolving acct and X payment for special event account = one payment. I had to either have the funds diverted from the revolving account to special event via chat or call in. At one point they said it will take approximately 2 months for them to apply my payment, so i complained and was placed into contact with a lady that can update the payments immediately once it has posted to your account. If you'd like her contact information, let me know and I'll be more than glad to share with you.

Re: Questions about Macy's Special Accounts

SunriseEarth — Thu, 02 Oct 2014 21:59:42 GMT

It may not report at all. I opened a Special Events line with Macy's for a mattress purchase. I spent about $800 on a $2900 CL. So far, this account has not reported to the CRs and it's been about 3 months. I'm totally fine with that.

Re: Questions about Macy's Special Accounts

pip3man — Thu, 02 Oct 2014 22:39:42 GMT

FYI my jewelry line is reporting as a Revolving on EX and TU however on EQ it reports as an Instalment account. Sometimes when u make a payment just like i did last month and specify which account it should be applied, their system randomly assigns it to the one it wants to. You have to bite tooth and nail to get them to reallocate the funds which would be done only after the payment has posted to the account

Re: Questions about Macy's Special Accounts

ramblinggirl — Thu, 02 Oct 2014 23:26:52 GMT

@SunriseEarth wrote:
It may not report at all. I opened a Special Events line with Macy's for a mattress purchase. I spent about $800 on a $2900 CL. So far, this account has not reported to the CRs and it's been about 3 months. I'm totally fine with that.

Just curious -is the Special events line a SP? I already have a Macys/Amex card but with only a $1600 credit line. if I am buying a big ticket item such as furniture I will need more credit or an additional line of credit.

Re: Questions about Macy's Special Accounts

SunriseEarth — Fri, 03 Oct 2014 00:34:22 GMT

@ramblinggirl wrote:
@SunriseEarth wrote:
It may not report at all. I opened a Special Events line with Macy's for a mattress purchase. I spent about $800 on a $2900 CL. So far, this account has not reported to the CRs and it's been about 3 months. I'm totally fine with that.
Just curious -is the Special events line a SP? I already have a Macys/Amex card but with only a $1600 credit line. if I am buying a big ticket item such as furniture I will need more credit or an additional line of credit.

Yes, this is an SP and is a separate line of credit from your revolving line and AMEX line. I called in before going to the store, told them that I wanted to see how much I'd be eligible for if I had a Special Events line. I told them I was possibly spending ~$2K for a mattress and was approved for $2900. And you can just tell them when you go in-store to put your purchase on the Special Events line.

Re: Questions about Macy's Special Accounts

credit_challenged09 — Fri, 03 Oct 2014 01:01:39 GMT

mine was a hp.

Re: Questions about Macy's Special Accounts

FinStar — Fri, 03 Oct 2014 01:48:05 GMT

@SunriseEarth wrote:
It may not report at all. I opened a Special Events line with Macy's for a mattress purchase. I spent about $800 on a $2900 CL. So far, this account has not reported to the CRs and it's been about 3 months. I'm totally fine with that.

Mine pretty much did the same thing. I purchased a bunch of furniture items ($900) and there was a special promo going on during July so the associate insited on placing it on my Special Events account - so I did. I would have PIF even before the statement cut but decided to test the waters to see how it would report yet nothing showed up. The account cycled twice and nothing on CRAs (I just PIF last week). I found it interesting almost like buying invisible furniture.

Re: Questions about Macy's Special Accounts

09Lexie — Fri, 03 Oct 2014 03:26:25 GMT

Purchased bedroom furniture in May, delivered in June - still hasn't reported

Re: Questions about Macy's Special Accounts

FinStar — Fri, 03 Oct 2014 03:39:54 GMT

@09Lexie wrote:
Purchased bedroom furniture in May, delivered in June - still hasn't reported

You bring up another good point on this Lexie. So I wonder why the revolver portion reports but the SE account type does not. Not complaining of course.

Re: Questions about Macy's Special Accounts

09Lexie — Fri, 03 Oct 2014 04:02:56 GMT

@FinStar wrote:
@09Lexie wrote:
Purchased bedroom furniture in May, delivered in June - still hasn't reported
You bring up another good point on this Lexie. So I wonder why the revolver portion reports but the SE account type does not. Not complaining of course.

Me either.

Re: Questions about Macy's Special Accounts

credit_challenged09 — Sat, 04 Oct 2014 10:55:29 GMT

@09Lexie wrote:
@FinStar wrote:
@09Lexie wrote:
Purchased bedroom furniture in May, delivered in June - still hasn't reported
You bring up another good point on this Lexie. So I wonder why the revolver portion reports but the SE account type does not. Not complaining of course.
Me either.

I bought my furniture in November but wasn't delivered until January. They won't bill you until the furniture has been delivered. so if you have a special term, it woon't begin until after the furniture has been delivered from what I was told by Macys. So my date to pay off my furniture was Jan/Feb 2015.

Re: Questions about Macy's Special Accounts

FinStar — Sat, 04 Oct 2014 13:53:00 GMT

@credit_challenged09 wrote:
@09Lexie wrote:
@FinStar wrote:
@09Lexie wrote:
Purchased bedroom furniture in May, delivered in June - still hasn't reported
You bring up another good point on this Lexie. So I wonder why the revolver portion reports but the SE account type does not. Not complaining of course.
Me either.
I bought my furniture in November but wasn't delivered until January. They won't bill you until the furniture has been delivered. so if you have a special term, it woon't begin until after the furniture has been delivered from what I was told by Macys. So my date to pay off my furniture was Jan/Feb 2015.

Furniture was already delivered and charges were posted eons ago credit_challenged09, and 2 statements have been cut. Hence the reason why this topic was brought up - again no issue just seems a rather interesting reporting (or non-reporting) method for the SE account.

Re: Questions about Macy's Special Accounts

credit_challenged09 — Mon, 06 Oct 2014 16:25:14 GMT

@FinStar wrote:
@credit_challenged09 wrote:
@09Lexie wrote:
@FinStar wrote:
@09Lexie wrote:
Purchased bedroom furniture in May, delivered in June - still hasn't reported
You bring up another good point on this Lexie. So I wonder why the revolver portion reports but the SE account type does not. Not complaining of course.
Me either.
I bought my furniture in November but wasn't delivered until January. They won't bill you until the furniture has been delivered. so if you have a special term, it woon't begin until after the furniture has been delivered from what I was told by Macys. So my date to pay off my furniture was Jan/Feb 2015.
Furniture was already delivered and charges were posted eons ago credit_challenged09, and 2 statements have been cut. Hence the reason why this topic was brought up - again no issue just seems a rather interesting reporting (or non-reporting) method for the SE account.

Yeah.. mine never reported although i did inquire.

Re: Questions about Macy's Special Accounts

taxi818 — Mon, 06 Oct 2014 17:22:57 GMT

@SunriseEarth wrote:
It may not report at all. I opened a Special Events line with Macy's for a mattress purchase. I spent about $800 on a $2900 CL. So far, this account has not reported to the CRs and it's been about 3 months. I'm totally fine with that.

My regular macys had not reported since May Bevin I had 200 balance and paid very month. Nothing zilch I not owe 40 now. Was trying to see if they report. If they don't sock draw time until next year.