Should I accept the Macy's upgrade to AMEX card

[QCS123]

Macys wants to give me an auto upgrade to the AMEX card. Is that a good thing? If I decline now does that mean I have a better chance later when I'm ok adding new trade lines? Not sure now is the time to do so with my FICO dive bombing right now. Thoughts? Are there any advantages to upgrading?  I already have an AMEX, I'm okay with my current set of cards....Macys gives regular CLI increases, does AMEX do CL increase in the same way?  Other thoughts?

[Anonymous]

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@QCS123 wrote:

Macys wants to give me an auto upgrade to the AMEX card. Is that a good thing? (this seems to be a new wave of upgrade offers; I have not received one so I guess its good that you were lucky enough to be asked) If I decline now does that mean I have a better chance later when I'm ok adding new trade lines? (it would depend on score, income, debt and inquiries at that time-but no, declining an upgrade wouldn't have any impact on future upgrades-they wouldn't hold a grudge). Not sure now is the time to do so with my FICO dive bombing right now. Thoughts? (we would need for you to list what your upgrade offer letter states-if it is an entirely new trade line (which is historically what Macy's and Bloomingdale's does) then it would impact your AAoA and score. Are there any advantages to upgrading? Not really other than you can use it anywhere Amex is accepted-though the rewards aren't great and the APR is terrible. I already have an AMEX, I'm okay with my current set of cards....Macys gives regular CLI increases, does AMEX do CL increase in the same way?  (Note that the Macy's and Bloomingdale's Amex cards are issued by Department Stores National Bank (a hybrid of the old FACS ((Federated's in store credit division (Federated owned Macy's/Bloomies before merging with May Department Stores)) and Citibank (Citibank backs the cards financially as well as provides other services-like the outdated online account management) therefore, the CLI system would be like any other Macy's/Bloomies product. Macy's simply has a license to issue Amex cards but Amex themselves (and their 3X CLI) does not apply here. Other thoughts? See below.

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More details please. On the letter, does it state that it will be the same trade line and open date? If so, it wouldn't hurt to accept the Amex version. If this will be a new trade line and will be an addition to the existing store line the it would hurt your AAoA as it would be a new account. You are at least the second poster here that received this upgrade offer but neither has provided enough details about this.

I have had my Macy's for over 11 years and I have not received an offer. 

[Anonymous]

I didn’t receive the offer either, which is no biggie. I can’t see myself using it outside of Macy’s. 

[AverageJoesCredit]

I tried putting a photo but i cant get pass size too big. Lol, im backward Joe.

Anyhow, ive gotten the upgrade offer and in another post , a poster stated they called in and was told it will be a new account. I dont dispute what they were told. However, my letter came with a questions about upgrade, same as the one i received for my Sears upgrade, and it states:

" After you receive the Macys Amex , your Macys account will be replaced on your credit report with the new Macys Amex account number. Your credit history and original account open date will remain the same"

My opinion is it will NOT be a new account as my Sears card did NOT lose its original open date.

[Anonymous]

Wow I’ve got both. Sounds cool though to lose a retail card in favor of a network card.

[Jnbmom]

I wish I would get the upgrade letter, my store card is at 25K, would much rather have the AMEX.

[Anonymous]

Not to mention the AmEx you get three points towards purchases at Macy’s anytime you use it for restaurants or dining

[AverageJoesCredit]

Just keep using your card and maintain your positive history @Jnbmom. Hopefully it will come in next batch!

[coldfusion]

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@AverageJoesCredit wrote:
I tried putting a photo but i cant get pass size too big. Lol, im backward Joe.

Anyhow, ive gotten the upgrade offer and in another post , a poster stated they called in and was told it will be a new account. I dont dispute what they were told. However, my letter came with a questions about upgrade, same as the one i received for my Sears upgrade, and it states:

" After you receive the Macys Amex , your Macys account will be replaced on your credit report with the new Macys Amex account number. Your credit history and original account open date will remain the same"

My opinion is it will NOT be a new account as my Sears card did NOT lose its original open date.

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A family member was extended and accepted the upgrade offer last fall.  The original account open date was preserved, which was welcome as this is a 20+ yo tradeline.  

[Cherekas]

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@Jnbmom wrote:

I wish I would get the upgrade letter, my store card is at 25K, would much rather have the AMEX.

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I hope to receive this offer soon as well. My account is 10 years old and currently at $24,800. That would be awesome. I was under the impression that it was a new account, hopefully im wrong.