88 replies to this topic

[bizmind]

My daughter is a college student. I have added her to several of my credit cards as an authorized user to help her establish
credit. We were advised that she could apply for the macy's amex card online however was unaware that the amex card could only
be applied for in the store.
I am interested to learn how would she go about upgrading to the amex card from the store card and if it is manually reviewed
will she be eligible with simply authorized user credit once it is manually reviewed even if her scores are in the mid 700s.
Settle can you comment on this?

[messager]

If she is an authorized buyer on the account, she will not be able to do the upgrading. You will have to go there yourself and do the upgrading.

Authorized buyer these day doesn't help building credit since it is not counted anymore in the calculation of credit scores.

Since your daughter is a college student she should be able to get a credit card on her own. That is much better for her credit and should start building up her credit line and history from now.

[bizmind]

I don't think you understood what I said.
She has her own macy's store card and her scores are over 700 due to her being added as an authorized user on 3 of my cards.
So she is establishing her own credit; my question is how does she upgrade from her store card to an amex card.

[Jaymes]

I don't think you understood what I said.
She has her own macy's store card and her scores are over 700 due to her being added as an authorized user on 3 of my cards.
So she is establishing her own credit; my question is how does she upgrade from her store card to an amex card.

Actually, that's not what you said in your original post.

But in any event, she should be able to apply over the phone at the number on the back of her Macys card.

[bizmind]

Thank you for your response and sorry that my post was misunderstood.
As a stated above.....

We were advised that SHE could apply for the macy's amex card online however was unaware that the amex card could only
be applied for in the store.

So she applied for the store card on her own merit and received an approval.
Actually her being added as an authorized user has helped her in establishing her own credit
and receiving higher limits than the typical starter limits that she would have received had
she not been added to our cards
If anyone has had any first hand experience upgrading from a store card to an amex card please advise and list the process.
Thank you for ALL for your responses

Edited by bizmind, 13 August 2011 - 11:24 AM.

[virtualtreasure]

there is no upgrade in the sense that it is just a brand new app, that typically costs an inq and if approved--a new acct reports.

Edited by virtualtreasure, 13 August 2011 - 11:37 AM.

[bizmind]

Thank you VirtualTreasure.

Edited by bizmind, 13 August 2011 - 12:17 PM.

[SBA]

My daughter is a college student. I have added her to several of my credit cards as an authorized user to help her establish
credit. We were advised that she could apply for the macy's amex card online however was unaware that the amex card could only
be applied for in the store.

Settle can you comment on this?

I am sorry you were misinformed. So just to make sure I understand: she applied for a Macy's account, did it online, and did not realize she could not get our AMEX account until after she had applied online? She did this for herself, with no pre-existing Macy's account, and she got a store account, but not an AMEX?

Bottom line: she applied on our web site, did not get an AMEX, and yes we will do a manual review to consider an AMEX upgrade. She has to call in to speak to us, and we can submit it to a manager for a manual review. For us, a store account to an AMEX is always done manually. If she were to visit a store with this type of request, they would simply put her on the phone with us, so she may as well call from home.

I am interested to learn how would she go about upgrading to the amex card from the store card and if it is manually reviewed
will she be eligible with simply authorized user credit once it is manually reviewed even if her scores are in the mid 700s.

I honestly do not understand what you are asking here. Within 90 days, MOST of our managers will use the same credit report when they do a manual review. We use Experian, so the only scare which matters is her Experian score. But, " simply authorized user credit " is hard to understand. I think you are saying her credit report is thin, and most of it is what you are calling " authorized user credit ". Is that right?

When an " authorized user " account appears on her credit report, it reports most time as a joint account. Without knowing more about her report, it is hard to guess accurately.

Again, sorry for the confusion earlier.

[SBA]

there is no upgrade in the sense that it is just a brand new app, that typically costs an inq and if approved--a new acct reports.

Wrong. Two different questions: New inquiry, or the same one? The same one if within 90 days. Most of our managers use exactly the same credit report if she makes the request for an upgrade within 90 days.

Second question: If she is approved for our AMEX account, it will report separately.

[virtualtreasure]

there is no upgrade in the sense that it is just a brand new app, that typically costs an inq and if approved--a new acct reports.

Wrong. Two different questions: New inquiry, or the same one? The same one if within 90 days. Most of our managers use exactly the same credit report if she makes the request for an upgrade within 90 days.

Second question: If she is approved for our AMEX account, it will report separately.

Right. not ALL will use same pull--therefor would want to be prepared for an additional inq...and it will be if after 90 days in any case- new account/TL reports with new open date: not an "upgrade" as is offered by Nordstrom- A NEW ACCOUNT- a Macy's amex with essentially store card terms 24.9% APR- now that IS wrong

Edited by virtualtreasure, 15 August 2011 - 03:11 AM.

[bizmind]

Settle you are dead on.
My daughter applied online for a macy's account thinking she was applying for the amex account but was only given a store account.
She called in to be considered for the amex card and they said she would have to wait one full billing cycle.
When she calls in; who or what should she ask for?
Her credit file is thin as you say. She has 3 authorized user credit cards and one fairly new student card.
Will a manager look simply at here score or will they look at the overall picture?

[SBA]

She can call anytime. She does not have to wait.:-) She might WANT to wait--to establish one payment, but she does not have to wait. If she does wait, make sure she pays a lot more than the minimum.

Ideally, she will PIF, wait 5 days after the first payment was due, then our internal scoring system has time to post her internal score (not FICO, we use three different scores for each account). Remember her first payment is not actually due until some 58 days after she opened her account, so if she choose to wait it still be a long time before she actually calls for the upgrade.

For others reading, please note if you want our AMEX account and you do not have our store account already, apply while you are standing in our store, not online.

This type of review will result in the manager doing a review of the whole picture, but generally, just the score unless it is not obvious with the score. Different managers do brief, others an in depth look.

[bizmind]

Thank You Settle.
So if she purchases something and pays in full before it is due will she still receive an internal score after 5 days after payment or only after the payment due date.
Is there a number she can call to speak to a manager because when she called it was an indian and they said it had to go through a process of one billing cycle

[SBA]

Thank You Settle.
So if she purchases something and pays in full before it is due will she still receive an internal score after 5 days after payment or only after the payment due date.
Is there a number she can call to speak to a manager because when she called it was an indian and they said it had to go through a process of one billing cycle

No, you just have to have her call during the day to get to someone here in one of our call centers. A couple of reasons she might have been transferred to India: she may not have had the account number, and the system may have had difficulty finding it. She also might have called after we closed our call centers in the USA.

So she really won't have an issue if she calls during normal hours and has her account number. She likely called before she got her account number on her first statement/her card, but that is just my guess.

She won't receive her internal score 5 days after the payment due date. If she were to make the payment tomorrow, her internal score still would not be generated until 5 days after the first payment is actually due--again, likely 55-60 days after she actually opened the account.

Hope this helps. Let me know if I can answer any other questions.

[CuriousCredit]

For others reading, please note if you want our AMEX account and you do not have our store account already, apply while you are standing in our store, not online.

What if you DO have a store account (several years old) but would like to app for the Amex. Call or in store app?

[SBA]

For others reading, please note if you want our AMEX account and you do not have our store account already, apply while you are standing in our store, not online.

What if you DO have a store account (several years old) but would like to app for the Amex. Call or in store app?

That type of upgrade is best done on the phone. You can try it in the store, but they end up just calling us and putting you on the line. We have to get a verbal approval to pull your credit (unavoidable at this point), get your current income estimate, etc. We pull EXP almost exclusively. I know you cannot tell tell what your EX FICO is, but unless you think it is north of 700, don't waste the inquiry. The name AMEX is now plastered all over our web site, but you cannot upgrade over the internet from store to AMEX, nor can you get a new AMEX online either...

If you are approved, you will receive a brand new Macy's AMEX card with your existing store account number AND a new AMEX card number. Two accounts, one card, preserving your current store account history. You will throw the store card in the garbage and use the new AMEX in our store, online, and anywhere AMEX is accepted. No annual fee.

If you do this, and want to register the account on our web site, you have to go to your Macys.com profile, DELETE the current store account number, and add in the new AMEX. We'll bring in the existing store and new AMEX together in your profile.

Hope this helps. I know this is more than you asked, but I often post for others to read as well.

[CuriousCredit]

Hope this helps. I know this is more than you asked, but I often post for others to read as well.

Very helpful! and much appreciated! Thanks!

[learnin113]

This is very helpful info Settle. I too have a Macy's store card and wanted to upgrade it to the Amex, however my score is hovering around 690, so as you say unless I'm above 700 I wont waste the inquiry. My intention is to upgrade all my store card though. Just did it with Gap and I have the Target Visa. Thanks a bunch.

[virtualtreasure]

For others reading, please note if you want our AMEX account and you do not have our store account already, apply while you are standing in our store, not online.

What if you DO have a store account (several years old) but would like to app for the Amex. Call or in store app?

That type of upgrade is best done on the phone. You can try it in the store, but they end up just calling us and putting you on the line. We have to get a verbal approval to pull your credit (unavoidable at this point), get your current income estimate, etc. We pull EXP almost exclusively. I know you cannot tell tell what your EX FICO is, but unless you think it is north of 700, don't waste the inquiry. The name AMEX is now plastered all over our web site, but you cannot upgrade over the internet from store to AMEX, nor can you get a new AMEX online either...

If you are approved, you will receive a brand new Macy's AMEX card with your existing store account number AND a new AMEX card number. Two accounts, one card, preserving your current store account history. You will throw the store card in the garbage and use the new AMEX in our store, online, and anywhere AMEX is accepted. No annual fee.

If you do this, and want to register the account on our web site, you have to go to your Macys.com profile, DELETE the current store account number, and add in the new AMEX. We'll bring in the existing store and new AMEX together in your profile.

Hope this helps. I know this is more than you asked, but I often post for others to read as well.

Are you suggesting that the Amex does not report as a new a account?

Edited by virtualtreasure, 19 October 2011 - 12:08 PM.

[SBA]

Are you suggesting that the Amex does not report as a new a account?

No, the AMEX will definitely report as a new account. In the situations described, when a customer walks in with a store account already reporting, and gets a new AMEX account from Macy's, they will soon see a new AMEX on their reports, right along side of the existing Macy's store account. Two accounts, but they'll be given one physical card. The old store account number is actually buried in the magnetic strip of the AMEX card.

I have to be careful to describe this rather unique " two account " card, because it is rare. Most times our customers will say " I was upgraded to a Macy's AMEX, therefore my Macy's store account on my old statements will go away, and I'll get billed for everything on my Macy's AMEX accunt. That is not how our cobrand cards work, we always have two separate account numbers on a single Macy's AMEX card.

[lakpr]

To all those who have Macy's AMEX card ... "Two accounts, one card" phrase in Settle's reply above is key, and in my opinion a BIG TRAP.

BE CAREFUL to check online to see if your payment posted to the correct account . I made a payment through Bill Pay to Macy's with the account number that I have on my card, and 2 months later I got hit with a 30-day late.

I posted about this on another thread.

[SBA]

To all those who have Macy's AMEX card ... "Two accounts, one card" phrase in Settle's reply above is key, and in my opinion a BIG TRAP.

BE CAREFUL to check online to see if your payment posted to the correct account . I made a payment through Bill Pay to Macy's with the account number that I have on my card, and 2 months later I got hit with a 30-day late.

I posted about this on another thread.

I am sorry this happened. You got it corrected, right? We do that when you call us, if you tell us it is a misapplied payment. I explained it in my above post, to make sure people get the new and the old account entered into their profile correctly. Here is a reprint of what I said above:

If you do this, and want to register the account on our web site, you have to go to your Macys.com profile, DELETE the current store account number, and add in the new AMEX. We'll bring in the existing store and new AMEX together in your profile.

[lakpr]

Settle,

Yes it had been taken care of. I don't want to hijack this thread too, I will just close by saying it was a needless aggravation, caused solely by Macy's funny way of doing business different than anyone else on the street. Macy's has a right to do business the way it sees fit, and I have a right to permanently sock-drawer the Macy's card.

[SBA]

Settle,

Yes it had been taken care of. I don't want to hijack this thread too, I will just close by saying it was a needless aggravation, caused solely by Macy's funny way of doing business different than anyone else on the street. Macy's has a right to do business the way it sees fit, and I have a right to permanently sock-drawer the Macy's card.

I understand. We have been offering credit cards since the 1930's, and we have many people with 30, 40, and 50 year old Macy's store accounts. When they say to us, " We want a card we can use outside of Macy's also ", we have no choice but to add a separate account number. We partnered with VISA for the past 17-18 years, then switched to AMEX, and both of those require very distinct account types, security codes much different than the store cards, disputes, tracking, and many other differences. So in order to offer people a choice, we have long felt a duplicate account number is the best method.

[Meltz]

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.