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Hi Everyone, semi-longtime reader, first time poster. I signed up for a Macy's card early Feb, without knowing about the tradeline being non-reporting. I noticed a drain on my score when it posted, checked it out and found out about the non-reporting tradeline. I spoke with a helpful (shocker) cs agent and she said in short that this non-reporting method of issuing was basically a colossal failed experiment. Apparently the accounts were to be updated beginning Feb, but that they ran into some kinks that had to be worked out. According to her, accounts are being switched over this month and next..she speculated that some accounts could well roll into May as the have a very large number of active accounts. Hopefully this is underway soon.
Got my statement today and no limit Im in florida.
I dont use the card just because spending a bit over $40 will report maxed on my CR.
@Jimmy9224 wrote:Got my statement today and no limit Im in florida.
I dont use the card just because spending a bit over $40 will report maxed on my CR.
I'm confused by the ungoing talk of not using because of util... Pretty sure that was only on TU08? All the others leave it out of util reporting like an American Express "Charge Card"
No CL reporting for Macy's for me as of 3/6. I wonder what my limit is when they do report. How does Util calculated for account like this?
@Creditaddict wrote:
@Jimmy9224 wrote:Got my statement today and no limit Im in florida.
I dont use the card just because spending a bit over $40 will report maxed on my CR.
I'm confused by the ungoing talk of not using because of util... Pretty sure that was only on TU08? All the others leave it out of util reporting like an American Express "Charge Card"
We are talking utilization because when Macy's begin reporting hard credit limits...and say for example my Credit limit shows up as $100...I will barely be able to use it because any bit I spend will appear maxed out with a low credit limit like $100, and that will affect my utilization and may drag down my FICO scores. Right now with it reporting as a "charge card" and no credit limit, it has not hurt my FICO score. I am hoping that when they begin reporting that I"m not stuck with a low credit limit like I pretty much have now (spending limit of $100). If that's the case I'll barely use it...if at all. Maybe to buy a lip gloss and call it a day just to keep it active.
I started out with $100 Macys Card Dec of 2009 and they upped my limit to $2k as of July 2011, according to the rep I spoke to the other day. I decided to call because I was curious as to what my limit was seeing as they never tell you on the bill or website. I also pulled my credit report and found that the credit limit doesn't report,and it never has. The rep was going on about credit limits showing up in the future months to come, but I don't know if they'll reflect on the credit report. The problem with the lack of credit limit posting is that it doesn't help you as far as utilization percentage. They will report your current balance only and that could hurt your score.
Yes! I've had both Macy's & Bloomingdale's since March 2011. They told me over the phone when I applied that I had a $500 limit with Macy's and $1,000 with Bloomie's but no limit had ever reported. This month both accounts started reporting limits. Macy's limit reporting at $1,500 and Bloomie's reporting at $1,000. And it gave my score a tiny bump. Nice!
just wanted to bump this and see if anyone else is reporting the limit?
when i called for a cli the rep said that it would report on my next stament. and they are starting to report limits to beaurus now.
as of aug 10 on tu its not reporting limit.
i went on that card from 100 to 2000 to now 3500 in about a year and a half.
it doesnt show a balance on my report but it would be nice to have that in utilization.
ill update this when i pull my reports again next month.
Current: Fico ScoresEQ~706 TU~719 EX 709 4/28/23 Inquiries (24 Months): EQ 0 TU 0 EX 0| Most Recent: A LONG WHILE | Buy A Home Earn Cash Back | Amex Zync(Unicorn) Chase Freedom$1500 Discover IT$7,400 Citi DC $10,000 Citizens Mastercard$7,000 |