Macy's Store Card

[Anonymous]

I was approved today for the Macy's store credit card with a $300 credit line. I was thrilled as i'm rebuilding my credit and never had a Macy's card before. I purchased $50 sneakers tonight online with the new account and the plastic card should be mailed to me in 7-10 days.

I was happy until I read the terrifying reviews on Credit Karma. So many complaints of Macy's charging late fees, not accepting online payments to generate the late fees, charging $2.00/month interst even if you have a zero balance. Now i'm thinking I made a mistake?

I already made my first purchase so I can't cancel. Can anyone with this card ease my worries? It's really not a card I plan to use much anyway. I just don't want a bunch of headaches that i'm reading about from others. Should I take those reviews with a grain of salt? Thanks for any advice!

[Anonymous]

I've had it since 2014, never had any of those issues. The only issue for me is being stuck with a $500 limit.

I definitely wouldn't put too much thought into those reviews, CK isn't very reliable.

[Anonymous]

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@Anonymous wrote:
I've had it since 2014, never had any of those issues. The only issue for me is being stuck with a $500 limit.

I definitely wouldn't put too much thought into those reviews, CK isn't very reliable.

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Thanks for easing my worries. I was so afraid I made a huge mistake but at the same time I felt Macy's was a reputable company so the reviews were confusing. I had a bankruptcy in '15 and since then have received a mix of store cards and credit cards, all with 100% on time payments which i'm really proud of and don't want anything messing it up, so i'm breathing a huge sigh of relief now from your post. 

The only thing i'm still confused about is how everyone is saying they charge $2.00 minimum monthly interest fee even if you have a zero balance. I don't see how interest can be charged on zero, but if that's the only major issue with them, I don't mind. I'll just look at it as a tiny monthly fee then. Thanks again!!

[Anonymous]

Some companies get you to sign up for their "Credit Card Protection Program", it's usually a $2 fee/charge monthly and if you lose your job they will work with your deferring your payments for X amount of time.

I wouldn't recommend agreeing to it, it seems those people obviously signed up for it by just agreeing to whatever the CSR over the phone asked when activating the card. I just always say no thanks and that's the end of it.

[Anonymous]

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@Anonymous wrote:
Some companies get you to sign up for their "Credit Card Protection Program", it's usually a $2 fee/charge monthly and if you lose your job they will work with your deferring your payments for X amount of time.

I wouldn't recommend agreeing to it, it seems those people obviously signed up for it by just agreeing to whatever the CSR over the phone asked when activating the card. I just always say no thanks and that's the end of it.

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I know what you're talking about because my Amazon Store Card was doing that for months until I found out you can call them and they'll refund it all back to you. I didn;t even know I signed for it but apparently it's something you check when applying....sneaky sneaky sneaky!

That wasn't on the Macy's application tonight because I actively look out for that now after the Amazon experience. What I read people talking about was Macy's charging $2.00 monthly finance charge on people with zero balance. I Googled it a few minutes ago and came across an article talking about it and it's apparently something they were doing a few years ago to customers, but stopped as it's against the law. I felt better after reading that. Here it is if you're interested:

http://www.cleveland.com/business/index.ssf/2017/04/shopper_questions_macys_2_mont.html

[iamdetermined]

CONGRATS on your approval! I have a Macy's card that has grown from $600 to $5500 in one year (I went from $4K to $5500 this morning) from an online CLI request. I've never seen the $2 charge, but it likely is the credit protection plan fee that peopl are not realizing they signed up for. I use my card at least once a month, not sure if that helps with the increases. GL with your journey, and again Congrats!!

Credit Karma is great for seeing changes in your reports, but I wouldn't rely on much else. I've read those comments, too, and I combed every statement thereafter, but didn't find any unexpected charges. I no longer trust the comments on there lol

[Anonymous]

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@iamdetermined wrote:
CONGRATS on your approval! I have a Macy's card that has grown from $600 to $5500 in one year (I went from $4K to $5500 this morning) from an online CLI request. I've never seen the $2 charge, but it likely is the credit protection plan fee that peopl are not realizing they signed up for. I use my card at least once a month, not sure if that helps with the increases. GL with your journey, and again Congrats!!

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Thank you and congrats on that huge credit increase in only one year. Wow, what a leap! It's way too daunting for me and could get me back into a whole heap of trouble LOL. After my bankruptcy experience I learned where my comfort zone is with store cards now. I'd say for me $700-$1000 is my safety zone. My largest credit line store card is currently for Rooms to Go for $1,000 and that's as high as I like. (And their no interest plans makes it easy to rack up that debt.) 

Anyway, I feel so much better about the Macy's card after these replies. They're a bit more expensive than i'm used to (Walmart & Amazon are my "go to" retail stores), but like Kohl's (which I also have) they seem to have great coupon and % off sales for using the card. Love those perks. Thanks again for sharing your experience and easing my worries.

[iamdetermined]

Thank you chris330r! I totally understand, don't take on more than you need, or can manage.

Macy's sends a lot of coupons, and if you're shopping for clothes check out Last Act - steals not deals on a lot of items. I'm sure you will love your new card.

You're welcome, and I'm glad I was able to help! Again, GL!!

[Anonymous]

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@iamdetermined wrote:
Thank you chris330r! I totally understand, don't take on more than you need, or can manage.

Macy's sends a lot of coupons, and if you're shopping for clothes check out Last Act - steals not deals on a lot of items. I'm sure you will love your new card.

You're welcome, and I'm glad I was able to help! Again, GL!!

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Thanks! Last Act looks like a place i'll be visiting a lot lol. Those sure are deep discounts! 

[CountryLivin]

I've never had any problems! I was charged $2 finance charge, but that was because I made 2 payments that month....1st payment was minimum payment and 2nd payment was to pay off the balance that month...2nd payment hit one day after due date, which was my fault and there was a $2 interest charge.....that was the only time ever for me.