Macy's Store Card Upgrade to AMEX

[EvilMan]

is it a hard pull for cli?

[Analysis]

Yes, it is a hard pull for a cli. Experian.

[virtualtreasure]

Against better judgement applied by phone for the 'upgrade' to Amex. I've gotta get a new hobby

The representative said shoud hear by mail w/i 30 days! is that normal..? EX FICO 745.

Last known CL on store card was 10k.

[hegemony]

thanks for the high level of detail! I appreciate it. The two new lines is a bummer. My main fear would be denial for the amex and being stuck with a store card. For reasons of Macy's history of buyouts (Marshal Fields anyone?) I have avoided shopping there until recently. I am over my previous hang-up over the corporate practices. I might wait until my newest amex from amex reports.

 

Well, I cannot tell from your mention of new AMEX reporting whether it is brand new AMEX, or you are saying it is payment on an existing AMEX which will post and reduce your utilization, but it sounds like the former. You know we have completely separate credit granting from AMEX on our Macy's AMEX cards, right? So the way I read it, it seems you may be waiting for the new AMEX from AMEX itself to report, to help you with the decision on getting an Macy's AMEX? If that is what you mean, I would not wait. The only connection we have with AMEX is that our customers use the AMEX merchant network, nothing in underwriting or credit granting is connected to AMEX as you know it.

 

We don't care about any AMEX account on your Experian report any more than we do about your VISAs, Mastercards, etc. They are just tradelines on your Experian report to us, and since your newest AMEX account has not yet reported, I think you'd be better off applying now for our AMEX than after it reports and brings down your AAofA, however little.

 

Let me know whether I've misunderstood why you'd be waiting for your new AMEX to report. Our general rule is that your Experian FICO has to be over 700 for our AMEX. Given your TU and EQ FICO's, I have to assume you have an EXP FICO over 750, which would get you a $10,000 Macy's AMEX and our store account with a non reporting store account of $3,000.---MAYBE only $8,000/$1700, but probably the higher of the two combinations.

 

If you prefer, since our Bloomingdales credit granting is identical, you might want a higher end " image " with the same limits. The trouble with that is that we have limited number of Bloomingdales stores (40), but 900 Macy's stores, so it is far liklier you can walk into a Macy's than into a Bloomingdales. If I recall, you used to live in Las Vegas, which has a Bloomingdales furniture store, so that would work if you still live there.

 

Let me know if you need more details.

 

 

I was not linking the presence of one amex card to the approval likelihood for the macy's amex. Sorry for not being clear; I meant that when my latest amex issued card reports it will help my AAOA since it will be backdated to 1993. But then I also have a new chase card about to report (JPMorgan) so I might have to time my application between amex reporting and chase reporting. Then again, I do have a tendency to over-think these things.

 

There is a mainline Bloomies store here at the Fashion Show Mall IIRC. I might go that route. thanks

[virtualtreasure]

I am curious hege, is macy's /bloomies your first pick for a non-Centurion Bank Amex, or do you like their stores/ have other reasons for having them on your app list?

 

 

[BrettDS]

I have a couple of quick questions for Settle, and since she's so active in this thread and it's somewhat related I figured this would be a good place to post this.

 

My wife and I just applied for a Bloomingdales card in the store a couple of weeks ago when we needed some new luggage and wound up with a 'perfect storm' of savings. The luggage was already on sale for 40% off (which put it in line with Amazon and other internet retailer's prices), then we happened to go during the 'friends and family' sale and our sales rep used that to get an additional 20% off, and then we got another 10% off on top of that for opening the new card... in the end we wound up with the luggage we wanted significantly cheaper than we could find it anywhere else.

 

I was a bit disappointed that we didn't wind up with the Amex card because we already have a good mix of store cards, but we don't have an Amex at all. Although it sounds like we may be able to upgrade at some point. My wife was listed first on the application since she has a slightly higher credit score and hers has been hovering right around 700, although from what I've read in this thread, it sounds like it was probably a bit under when they pulled it for the application. If it matters, mine is almost certainly under 700, but I believe it's around 650-680.

 

When we got the cards and I discovered that we didn't get the Amex I called the number on the card and asked to be reconsidered for it and the rep said that she would make a request and I would hear back from them within one billing cycle. However, if it's entirely score based and we didn't qualify when we applied then I can't imagine that we would qualify now... especially if they don't pull another report.

 

So, after all that, my questions are this...

 

Is the reconsideration entirely score based or will they make an exception to the 700 rule on a manual review? Is it possible to talk to someone in underwriting who is doing the manual review? My wife and I made a lot of mistakes in our past and we have a number of late (and very late) payments on our reports from around 5 years ago that are keeping our scores down a bit, but we haven't had a single late payment or other negative for more than 4 years now. I've had reasonable luck in the past with reconsideration when I can talk to someone and point out the reason that our scores are a bit low is because of mistakes we've made in the past, but also point out that we've learned from our mistakes and haven't had any problems in the last 4 years.

 

If we still don't wind up with an Amex from this reconsideration, how long should we wait to ask to upgrade again? As our late payments keep getting older our scores are going up fairly quickly. Additionally, our utilization isn't ideal right now (maybe 30 or 40%), but usually it's more like 10% or less, so just getting the utilization down should be enough to push my wife over 700... can I ask again in a month or two if I'm reasonably certain her score is over 700 or would it be best to wait 6 months or a year?

 

Finally, since you guys handle credit for bloomingdales and macys, can I use the bloomingales store card at macys, or are they keeping those seperate?

 

Thanks much:)

Brett

[hegemony]

I am curious hege, is macy's /bloomies your first pick for a non-Centurion Bank Amex, or do you like their stores/ have other reasons for having them on your app list?

 

well I must admit I am a design whore and the card's design has always been one of my favorites.

 

I shop a lot more at Nordstrom's than bloomies or macy's.

 

Maybe your request for a logical explanation will stifle my desire for this card. In fact now that I think about it, I don't really need another low limit card. hmmmm...

[virtualtreasure]

I am curious hege, is macy's /bloomies your first pick for a non-Centurion Bank Amex, or do you like their stores/ have other reasons for having them on your app list?

 

well I must admit I am a design whore and the card's design has always been one of my favorites.

 

I shop a lot more at Nordstrom's than bloomies or macy's.

 

Maybe your request for a logical explanation will stifle my desire for this card. In fact now that I think about it, I don't really need another low limit card. hmmmm...

 

 

wish I had of talked my self out of it before calling this morning. am also more partial to Nordies and don't need another low limit... or EX inq... or new acct for that matter

[Analysis]

I have a couple of quick questions for Settle, and since she's (HE!) so active in this thread and it's somewhat related I figured this would be a good place to post this.

 

If we still don't wind up with an Amex from this reconsideration, how long should we wait to ask to upgrade again? As our late payments keep getting older our scores are going up fairly quickly. Additionally, our utilization isn't ideal right now (maybe 30 or 40%), but usually it's more like 10% or less, so just getting the utilization down should be enough to push my wife over 700... can I ask again in a month or two if I'm reasonably certain her score is over 700 or would it be best to wait 6 months or a year?

 

Finally, since you guys handle credit for bloomingdales and macys, can I use the bloomingales store card at macys, or are they keeping those seperate?

 

Thanks much:)

Brett

 

Reconsideration, for us, rarely happens in siutations like this. Our normal response is: use the account, establish some history, and we'll reconsider. When to call for another look? When and if your Experian (or your wife's, who ever is listed first on the account) Experian report changes in a positive direction. 700 is really our key number for the EX FICO. I know most people cannot easily get their EX FICO, but that is still what our system uses. No point in doing the next pull now, we'd use the existing pull for another 90 days. You can call every day for recon, and if you get the right supervisor, you might be able to get them to pull a new hard inquiry before the ninety day mark, but we are required to use the existing one within ninety days unless a manager or lead notes the account for an early pull. Of course I know you would not want to do that. All of us " could " pull another report, but the auditors would come down on us if we did....

 

Macy's and Bloomingdales store accounts are unusable in each others' stores, but if it says AMEX on the front, it is usable anywhere AMEX is accepted--which includes both our stores, of course.

 

Against better judgement applied by phone for the 'upgrade' to Amex. I've gotta get a new hobby. The representative said shoud hear by mail w/i 30 days! is that normal..? EX FICO 745. Last known CL on store card was 10k.

 

Yes, this is normal for us to open an AMEX on top of an existing store account, and that is our standard response to the time frame. Store account guideline or limit does not matter, only your EXP score at the time of the new pull (on the early side of thirty days, probably see the pull next week) Our FICO limit for the AMEX is 700, so you'll get it.

[Analysis]

wish I had of talked my self out of it before calling this morning. am also more partial to Nordies and don't need another low limit... or EX inq... or new acct for that matter

 

VirtualTreasure:

 

Would you report here when you get your limit for the new AMEX account? Most likely the limit on your new account will be between $5,000 and $12,000.

[virtualtreasure]

Thanks Settle, good of you to offer so much info and f/b to the many macy's inquiries placed here at CB, much appreciated!

[Analysis]

well I must admit I am a design whore and the card's design has always been one of my favorites.

 

I shop a lot more at Nordstrom's than bloomies or macy's.

 

Maybe your request for a logical explanation will stifle my desire for this card. In fact now that I think about it, I don't really need another low limit card. hmmmm...

 

Not to discourage you, hegemony, but our AMEX cards are not exactly stunning. Since yours would be a new AMEX, it'll be one of three colors: white, white, or white. Once you use the card inside of Bloomingdales (or on our web site) for over $1,000, you'll get a new color card, but since we both know you won't likely do that, your card would be white, and probably remain so....

 

You can see our three colors on our web site, at the bottom, if you click on credit services. For everyone: Do NOT apply on our web site if you want our AMEX. We don't offer our AMEX for an online application, no matter how good your score is....in store only.

[*Capo*]

I also have a Macy's store card and wanted to upgrade to a Macy's Amex card, I called customer service and I was told that I was unable to do this. They said if I wanted to do this it would be a hard inq as if I was applying for a new cc. So I asked if I was eligible for a CL increase, I haven't used the card in months but they still increased from 600 to 1000. This one was one of my first cards from years ago and this was my first CL increase, very sad, because of this I sock drawered the card, all it's worth to me.

 

 

I got a Macy's card in March 2011 and it does not have a credit limit. I asked in store they said you just use it, which confused me since I don't know how much I can charge on it. And then I registered online and it does not have a limit. And on my credit reports it does not indicate a credit limit. How are some of you guys getting limits and CLI's on your Macy's cards?

[virtualtreasure]

wish I had of talked my self out of it before calling this morning. am also more partial to Nordies and don't need another low limit... or EX inq... or new acct for that matter

 

VirtualTreasure:

 

Would you report here when you get your limit for the new AMEX account? Most likely the limit on your new account will be between $5,000 and $12,000.

 

sure thing, sorry if these are repeat questions but 1. are CLI requests on the Amex always an HP 2. what is the interval of time that we are eligible to request a CLI.

[Analysis]

I got a Macy's card in March 2011 and it does not have a credit limit. I asked in store they said you just use it, which confused me since I don't know how much I can charge on it. And then I registered online and it does not have a limit. And on my credit reports it does not indicate a credit limit. How are some of you guys getting limits and CLI's on your Macy's cards?

 

We don't report limits on our store accounts. We can see it on our screen when you call us, but we are not supposed to provide it to you. Some people get it from a phone call because they speak with a new CSR who does not know our policy, or from a tired CSR who just does not want to say no to your question. 99.999 percent of us won't give you your limit (we call it a guideline, since it varies a lot, and we will let better customers go over the number with certain purchases).

 

The most reliable way to get the information you want is to call us before you go shopping and ask " If I were to spend $550 today in your store, would it be approved?". When you phrase it that way, we can say yes or no. "

 

We hate the policy too....

[learnin113]

Settle,

Is the CL for the Amex side reported?

 

 

[Analysis]

are CLI requests on the Amex always a hard pull? what is the interval of time that we are eligible to request a CLI.

 

The rule here is: When you call us to request a CLI for our AMEX, we have to run a new report. Our system will usually stop us from a new pull if there is already one on your AMEX account within the past 90 days. That being said, you can literally call us every day and request a hard pull and CLI, but most of us will not pull a new report within 90 days unless we have a manager's approval, and the managers (supervisors) will generally say " No, there is no reason to pull a new report, we have one within 90 days." Related item: If there is a hard pull on your store account, our system will not allow us to use it (it does not feed the credit risk software for the AMEX if the pull is on the store " side " of the account. HINT: Be careful with CLI requests....

 

Auto CLI's happen, but we don't know when they will happen because our software (built for 20 million accounts, so there are lots of unknowns to those of us who do not write the software) is always looking at accounts. For our AMEX, CLD's are far less likely than with our store accounts. With our AMEX accounts, using and paying will often keep the limit consistent for years. For you and others: our software is very sensitive to usage. Best way to get inceases of any type are to use the account, our software loves usage, PIF, and large payments.

[Analysis]

Settle,

Is the CL for the Amex side reported?

 

 

Yes. If you have our AMEX, you will see at least two accounts on your reports: Macy's store account (showing DSNB (Department Stores National Bank) with no limit, and a second account, the AMEX, with a limit.

[hegemony]

 

Not to discourage you, hegemony, but our AMEX cards are not exactly stunning. Since yours would be a new AMEX, it'll be one of three colors: white, white, or white. Once you use the card inside of Bloomingdales (or on our web site) for over $1,000, you'll get a new color card, but since we both know you won't likely do that, your card would be white, and probably remain so....

 

 

 

I guess I recall seeing my firend's black macy's amex card. I guess that is the secret agent level design.

[Analysis]

I guess I recall seeing my firend's black macy's amex card. I guess that is the secret agent level design.

 

That black color comes with spending at least $2,500 the prior year inside our store....which I don't think you are going to do--hence, my warning about color. I would not have mentioned it, but you specifically said card design is important.

[hegemony]

I guess I recall seeing my firend's black macy's amex card. I guess that is the secret agent level design.

 

That black color comes with spending at least $2,500 the prior year inside our store....which I don't think you are going to do--hence, my warning about color. I would not have mentioned it, but you specifically said card design is important.

does the $2500 spend include online purchases? the website says the "Preferred American Express" (black) design is for spending $1000 per year. I definitely spend at least 1K in store/online a year. In fact last time I was there I used my Norstrom's visa

[jthedges]

Settle, what are the rewards on the Macy's Amex? Besides the standard and usual get 15% off using Macy's card stuff. Thanks! Are the rewards different between the standard and the preferred version?

[Analysis]

does the $2500 spend include online purchases? the website says the "Preferred American Express" (black) design is for spending $1000 per year. I definitely spend at least 1K in store/online a year. In fact last time I was there I used my Norstrom's visa

 

Absolutely it does. Online purchases automatically go to your Macy's store account. I made some assumptions about your purchasing, and did not mention the online inclusion simply because you were so clear yesterday about not wanting a store account. The AMEX was just introduced last year, and your friend spent the " black " requirement last year of $2,500. Now, the new $1,000 black requirement is fully implemented, so it is now $1,000.

 

So let me explain how our AMEX " cobranded " cards work. This applies to both Macy's and Bloomingdales in very much the same way:

 

Let's say you have Macy's AMEX and go to our web site to enter the account on our web site in your Macys.com profile. The best way to do this is to use the account number on your AMEX card. When you do this we will automatically bring in both store and AMEX account into your profile. After you've entered the card number, you go to purchase a shirt on our web site while you are logged in. From your payment options, you choose Macy's account, and finish the sale. You complete the sale and moments later your store account has a shirt balance on it. 60 seconds later, if you go to www.nordstroms.com, purchase a second shirt using the SAME Macy's AMEX card number, you will see your Macy's AMEX balance go up by the amount of your Nordstrom purchase.

 

Two accounts, one card. Two reporting accounts, only the AMEX reports a limit.

 

Again I've provided more information than you requested, but since this is read by so many others, I put it here to educate others about our unique " cobranded " AMEX card. For those with a EXP FICO over 700, the Macy's AMEX is a one inquiry method for two new accounts, to help build history.

[Analysis]

Settle, what are the rewards on the Macy's Amex? Besides the standard and usual get 15% off using Macy's card stuff. Thanks! Are the rewards different between the standard and the preferred version?

 

That gets very, very, complicated lately. We are implementing a new rewards program, a pilot last year in only 30 stores, so rolling it out to 900 stores makes it complicated to provide details about the rewards system. The new rewards system works with any purchase method, just like your grocery store card. It is tied to your phone number, and you get a keychain type rewards number.

[sb913594]

Cobranded= CO-fusion, but I needn't worry because I have a good 5 years before AMEX would consider me...lol.