@Anonymous wrote:
Just out of curiosity, what kind of credit lines do they offer to people with good credit? We are furnishing a large 5 bedroom house and buying tons of things. Every time we go they really try to sell getting the card. I get miles and points with my AMEX card so I almost never sign up for store cards. Plus I heard all of these places have really low credit limits, even for people with high credit scores.
Anyone out there get a high credit limit with Macy's? It doesn't make sense for me to get a store credit card if the credit limit will be super low.
We almost gave in as we could have saved 15% on the purchase by opening a card. But we were buying several thousands of dollars worth of things and from what I heard the limits are low.
We pay off our balances each month so not worried about APR. Thanks in advance.
Couple things here:
If you are taking advantage of the 15% off for opening a card then that means you would be putting the furniture on a Macy's Store Charge that would be at 24.50% if you did not pay in full, which if you have the cash and just looking for rewards then this would be the way to go!!
If you are looking for financing then you would have to open a furniture line, they use to give out $3600 pretty freely, it was once I had my original furniture line down to maybe $600-800 that I went back for another one and they gave $5800 I believe it was and I needed $6200 which I put the rest on my Amex and then when I went back and spent another $2500 I just put it on my store card.
The advantage of store card for furniture if you can pay in full is... if it's a new account as you stated you would get the 15%, in addition you would get reward certificates for the purchases which could be pretty lucritive also AND you would instantly make your new "Red" Macy's and "Ultimiate Premier Black Card Macy's"
and one last thought, if you just want store card for the 15% and never really use again, then make sure if you apply you check "ONLY CONSIDER ME FOR STORE CARD" because if you have good credit you are very likely to get approved for a Macy's Amex, which would give you:
1 Macys Store Card Charge account
1 Macy's American Express account with a seperate credit line
1 Macy's specialty account for like Jewelry and stuff like that (believe they call it a club account)
yes that's right 3 NEW tradelines on your credit report.
I actually have 5 Tradelines from Macy's on my credit, store, amex, club, original furniture, and second furniture line.
and yes with good credit you could probably get several thousand... might take a call and a little conversation with a credit person but I don't see why they wouldn't allow the charge.
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