Question about Macys Visa and Store Card Credit Limit

[Anonymous]

My Situation

  TU FICO  633 on March 7, 2009

  EQ FICO 633  on March 15, 2009

  EX FAKO 729 (Freecreditreport.com) on March 21, 2009

     I just completed  a debt management program and  a collection account appears on my CR. 

    I just went into Macys store yesterday to pick up some T-Shirts and one of the sales rep. ask me if I want the Macys charge card for a 15% discount on all my purchases today. I said why not! 

   I have read a lot on this site and the concession seems to be that Macys store card is the best charge card for credit mix due to their generous CL and CLI.

    So, to cut the story short, I went ahead and applied. I got approved and after paying for the T-Shirt with my new store card I called up the CS to ask about the limit and to my surprise I got a $1200 CL on the store card.They also approved me for the Visa card. However, the visa CL is not yet determined. They told me that another department will handle that.

 This morning I got two emails, one from freecreditreport.com and another from TrueCredit that my Experian report has change. So I pull up my experian and to my surprise MCYDSNB appears with a CL of $1200 and inquiry from MACY. Wao! so quick! This account also help my UTL and there was no change in my EX FAKO score, still 729.

  Here are my questions.

   (1)  Does MACY/DSNB report to other CRA?

   (2) From member experience here, do you think MACY/DSNB pulled only my experian? I'm asking this because the CL of $1200 was generous for my Mediocre scores.

   (3)  From people with similar store/Visa card, do you have any idea if the Visa CL will be higher than the store card limit and what is usually the ratio Visa limit to store limit.

   (4) My EX report  also has the collection  account but TrueCredit is not indicating it as derogatory on my 3 in 1 report from TC. Could it mean that my EX FICO score might be close to the EX FAKO score

Your input will be appreciated.

[Imua]

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@Anonymous wrote:

My Situation

  TU FICO  633 on March 7, 2009

  EQ FICO 633  on March 15, 2009

  EX FAKO 729 (Freecreditreport.com) on March 21, 2009

   *snip*

  Here are my questions.

   (1)  Does MACY/DSNB report to other CRA?

   (2) From member experience here, do you think MACY/DSNB pulled only my experian? I'm asking this because the CL of $1200 was generous for my Mediocre scores.

   (3)  From people with similar store/Visa card, do you have any idea if the Visa CL will be higher than the store card limit and what is usually the ratio Visa limit to store limit.

   (4) My EX report  also has the collection  account but TrueCredit is not indicating it as derogatory on my 3 in 1 report from TC. Could it mean that my EX FICO score might be close to the EX FAKO score

Your input will be appreciated.

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first, congratulations on your new cards!

i did the same thing last may (applied in-store while making a purchase) and got both the store and the visa.  

re #1 - i have both TL's reporting on all 3 CR's

re #2 - only EXP had an inquery

re  #3 - my initial macy's store CL was $1200 (recently increased to $1500) and my macy's visa CL is $5000.  Not sure if that's a typical ratio.  fwiw, my EX fico at the time of inq/approval was around 720

[Anonymous]

Thanks for the response. All arms are on desk and I will see what comes up. How long does it take to get the card in mail?

[Imua]

it was less than 2 weeks... i think around 10 days

[Anonymous]

Do you think a paid collection make a difference in EX score than for TU and EQ?

At the time I had the collection, a silly $420 move oit expence from my landlord, my EX score diped from 725 to 634, almost 100 point difference. That was October 08, now the score is back up to 729 after settling the collection.

  All these score are FAKO scores, so I'm not sure about EX FICO, since we consumers can't getit anywhere.