Hi everyone, I applied for the macy's credit card couple of days ago and just got my denial email with the reason being "Total credit obligations when compared to the total annual income you provided", which is very confusing since my utilization is at 3% and I have a decent income. I called the recon number and the lady did not seem to have any idea how to help me and just told me to reapply in 60 days without even pulling up my app...Did Macy's stop doing recons? If someone could guide me on how to approach this I would really appreciate it.
Hi @Lynxy - welcome to the forums.
It sounds like the reason may be pointing toward DTI as one of the factors. Keep in mind that there could be other factors, but they're only required to provide one reason.
Do you have any installment or student loans? How many accounts have you opened in the past year? Do you know what your current FICO scores are?
I know that Macy's will do a recon on existing accounts (as it has happened when I wanted a larger CLI). There may be a backdoor number listed and perhaps someone can post the link. Wishing you success in opening an account.