Macy's Amex or Macy's Store Card?

ReaLiLJ · ‎11-21-2013

Have two cards with Amex, one platinum, and one AMEX BCP at 10.5k. Just requested my macys card be increased from 900 and they countered with 2.5k and if I wanted it to be changed to the Amex one! I don't really use it only to buy 1 item a month and then pay it in full, so I felt PCing to that card would be irrelevant as I feel I can get to a higher limit on the store card by just keep doing what I have been doing. My question would be if I do get the Amex one you think Amex will let me go higher with the CL or should I just stay at a store card, and get more exposure, and just try to go with a higher limit with them. As I feel like amex will make me cut down my amex limit to increase my macy's limit, since I feel I am at maximum exposure with them at my current limit.

09Lexie · ‎11-22-2013

The BCP is not related in any shape or form to Macy's Amex. One is issued by Centurion Bank and the other DSNB. If you decide to add Macy's Amex, you will essentially have two TLs (store card with a limit) and the Macy's Amex with a separate limit. It's important to note, that they will report separately, have separate billing periods and the Macys Amex will report as a new TL.

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SunriseEarth · ‎11-22-2013

@09Lexie wrote:
The BCP is not related in any shape or form to Macy's Amex. One is issued by Centurion Bank and the other DSNB. If you decide to add Macy's Amex, you will essentially have two TLs (store card with a limit) and the Macy's Amex with a separate limit. It's important to note, that they will report separately, have separate billing periods and the Macys Amex will report as a new TL.

With the PC of a Macy's to the Macy's AMEX, would the AMEX have a new opening date or would it use the opening date of the original Macy's TL?

TiggerDat · ‎11-22-2013

One benefit of PCing it to the Amex, is that it will report as a major credit card now. This can boost your score a bit, I believe.

If it does keep the aging then you would be OK to do. I must say that I think that the silver card does have nice look to it.

It is by will alone I set my mind in motion.....
Always follow these rules: Only take a HP for a new account. Always use the best rewards card for that reward category. Don't close a card unless you know you really should. Never use more than 35% of a credit limit. Recon as much and as best you can. Use the introductory period to the best advantage. Get the signup bonus. Whenever possible PIF or balance transfer so you pay less in interest. Never give an excellent rating when it is actually the norm. Always look for a discount as more is always better.
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Creditaddict · ‎11-22-2013

I don't believe the new Amex will report with same opening as your original Macy's... it will be new account.

The advantage would be once you reach $1k and get upgraded to the Black Elite Card that you start earning 3% rewards on your Macy's Store purchases and could earn 1% outside store on your Macy's Amex.

I also don't use our Macy's Amex.

The CL on your Macy's Amex will not effect your CL on your store card not going higher, usually actually your Amex CL is higher then your store limit and you can request CLI on your store line every 3 months and 6 months on amex side.

SunriseEarth · ‎11-22-2013

@Creditaddict wrote:
I don't believe the new Amex will report with same opening as your original Macy's... it will be new account.

If that's the case, I don't think the Macy's AMEX would be of much benefit to the OP. OP has a short AAoA and doesn't seem to need new credit. The potential rewards structure could be good.

Is the 1K spend requirement for all purchases anywhere or just in Macy's?

FinStar · ‎11-22-2013

$1K minimum annual spend requirement is for Macy's purchases to maintain Preferred level.

09Lexie · ‎11-22-2013

It will report as a new opening date. The only benefit IMO of the Macy's Amex, is at initial approval. Two TLs from one hp, if it's an upgrade the Amex will give you a new TL

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ReaLiLJ · ‎11-23-2013

True if the card is going to report as a new TL it will definitely lower my AAOA and that will not be good at all hahaha, I already fill an FR coming from AmEx when I charge my some of tuition for spring to it for the points (even though I will PIF it off). I don't mind the FR but I'm currently going to end this year with 49.5k instead of 55k that they currently have on file from last year, and all the new generous credit limits from other lenders that are now reporting would definitely in my opinion cause them to perform a CLD to card!! (I always hope for the worst and only saying this because I see AmEx Macy's card) even though I know Lexie clarified this, so don't quote me on this. Lol as for benefit of having a major credit card, that would be cool since it will put me in that higher trend of credit cards I have category and will boost it by a little(that thing I see on CK even though I know it's a plus score factor, probably not a fico score factor), I suppose but it probably won't do much! Also I just checked my reports twice so it hasn't reported as a hard inquiry so it was definitely a soft, my question is since it was a soft and I was offered the card, you think I am getting a limit increase and the card for the soft pull? Or if I get the card it will initiate a hard pull? Real interesting. Lol

FinStar · ‎11-23-2013

It really depends on your goals, whether you want the extra Macy's AMEX tradeline (if approved) and the AAoA hit. Some individuals have mentioned submitting the application for the Macy's AMEX and being SP, while others mentioned a while back that it was HP, so it's a YEMV situation. However, if the SP was used for your recent Macy's store CLI, the same SP won't be used to be considered for the Macy's AMEX.