88 replies to this topic

[SBA]

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

We are talking about Macy's AMEX here, not AMEX. We make our own credit decisions here, AMEX has nothing to do with whether we grant a Macy's AMEX to someone. The primary determinant as to whether you'll receive a Macy's AMEX if you apply in one of our stores is your Experian report. We do not consult AMEX about whom we approve for a Macy's AMEX account.

[virtualtreasure]

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.

So say I get an EX HP for Macy's Amex 'upgrade' request next week and the Macy's Amex is issued several days later.

I then request a CLI 60 days from the 'upgrade' request HP (having used the card a few times and PIF.) The system stops the Macy's representative from a new pull, since there is an HP from 60 days prior still showing.

Can the rep grant a CLI based on the 60 day old HP, even though the system won't allow them to pull a new one yet?

Or, are you saying, since they can't pull a new hard before the 90 days has passed, the CLI can't be granted, until the system allows another HP?

Edited by virtualtreasure, 22 October 2011 - 03:31 AM.

[SBA]

So say I get an EX HP for Macy's Amex 'upgrade' request next week and the Macy's Amex is issued several days later.

I then request a CLI 60 days from the 'upgrade' request HP (having used the card a few times and PIF.) The system stops the Macy's representative from a new pull, since there is an HP from 60 days prior still showing.

Can the rep grant a CLI based on the 60 day old HP, even though the system won't allow them to pull a new one yet?

Or, are you saying, since they can't pull a new hard before the 90 days has passed, the CLI can't be granted, until the system allows another HP?

That all depends on the CSR, honestly, and the size of the increase request. Technically, my auditors won't allow me to go over $10,000 for an AMEX, so as soon as you give me a number over that, I have no choice but to hand it to a supervisor to remain in compliance. Most likely a supervisor will do a manual review, note the 60 day time period, and make a true manual decision. Some managers might actualy ask to speak to you, get your approval to pull a new hard, and do that before making a decision.

Other CSR's would just run the software and see what happens. Honestly, they could not guarantee 100% the system would not pull a second report, so they'd probably have to get your approval first, just because our software reacts differently sometimes depending on the size of the increase request.

On this, it is not an exact science: on the part of the CSR's willingness to do it, and the software's reaction. 12 million AMEX accounts, and I've seen the software do both: pull and not pull.

[hegemony]

Thanks Settle. I've decided to hold off for now. One question though, what if my first purchase, done in conjunction with an app for credit, is over the threshold for the preferref (black) card? Will I still be issued the white card or will the first card issued be the preferred card?

[SBA]

Thanks Settle. I've decided to hold off for now. One question though, what if my first purchase, done in conjunction with an app for credit, is over the threshold for the preferref (black) card? Will I still be issued the white card or will the first card issued be the preferred card?

Everyone who gets an AMEX receives a white AMEX card to start, no matter how much they purchase the first day. Our system is set up to total those purchases Q1 every year, total the net purchases for the prior year, match them against the $1,000 benchmark, and send a new card.

However, if you were to do that, purchase, say $5,000 net the first day of your account ownwership, then you could call us on the phone and we would manually upgrade your color and features well before our system calculates the calendar year totals. We have a running total at all times, of course. Lots of people make this call when they realize rewards get better with the color (VIP level) of the card. Those who realiza the cards get better after an upgrade often want us to give them the higher VIP level AND the new account discount (up to 20 % additional on top of the sale amount) after the first month, but we don't start accumulating rewards until the account has been upgraded. I've seen people get over $1,000 in new account savings on their first two days purchases. It can add up.

For anyone reading with an existing card, this may not have happened exactly like this last year just because we changed 12 million VISA to AMEX last year, and we did the calculation on July 1 in anticipation of the new AMEX cards.

Hope this helps everyone understand a bit more about our cards.

[hegemony]

thanks Settle. if (when?? ) I apply I will do it with a first purchase of >1K and then call about the upgrade when I receive the card.

[SBA]

thanks Settle. if (when?? ) I apply I will do it with a first purchase of >1K and then call about the upgrade when I receive the card.

If you do that, remember that some CSR's are buttheads, and they'll want you to call back after the first bill is generated. The better CSR's will get on the horn with a manager right away to get you upgraded, but some of them are lazy and just say " You have to call back in a few weeks ".

[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.

When I just called in to check status was told the upgrade request was denied. don't need a new acct or low limit TL so it is better than that...just regret the EX inq

still curious why they'd deny and if they do recon... haven't got a letter yet.

mid 750s EX no baddies. UTI 7% but several new accts in past year.

[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.

When I just called in to check status was told the upgrade request was denied. don't need a new acct or low limit TL so it is better than that...just regret the EX inq

still curious why they'd deny and if they do recon... haven't got a letter yet.

mid 750s EX no baddies. UTI 7% but several new accts in past year.

Yeap, valid decline reason (although didn't think it would necessarily be a deal breaker on an upgrade request) "too many new accounts" in the past year (7- all have zero balances) Also mentioned large number of accounts-24 TLs oldest 25 yrs AAoA 6 yrs and commented that don't use the Macy's store card that much...main reason don't use it more is becuz dunno know CLsaid no recon but can reapply

Since don't want any more new accts for the next couple of years, at least- a good outcome (was bored and made a bad decision to make an exception for an 'upgrade') and have only myself to blame for burning an EX inq (now 7 tot on EX, this was the only one in the last 8 months)

By comparison Nordstrom appeared not to have a problem with the new accts in connection with my upgrade request (8 at the time) seems they based visa upgrade approval with CLI to 15k more so on the 1. score 2. thick file w/ no neg info, low reporting balances and 3. perfect history on the store account.

Edited by virtualtreasure, 29 October 2011 - 05:53 AM.

[SBA]

Our software is very, very, sensitive to reports with lots of new accounts and recent inquiries. Are you saying you have 8 new accounts, and 8 recent inquires? If I read that right, then that is the primary reason you were denied. Our system labels that a " possible bust out ", and declines it.

A request to obtain a Macy's AMEX account is not considered an upgrade in any way. For us, it is a brand new account, with no relation to the existing store account except as the store account appears on your Experian file as a component of your overall score and history. It is a brand new account, and we treat it completely separate from any Macy's store account. Macy's store account activity also is completely irrelevant to our software for new AMEX accounts.

Yeap, valid decline reason (although didn't think it would necessarily be a deal breaker on an upgrade request) "too many new accounts" in the past year (7- all have zero balances) Also mentioned large number of accounts-24 TLs oldest 25 yrs AAoA 6 yrs and commented that don't use the Macy's store card that much...

Since don't want any more new accts for the next couple of years, at least- a good outcome (was bored and made a bad decision to make an exception for an 'upgrade') and have only myself to blame for burning an EX inq (now 7 tot on EX, this was the only one in the last 8 months)

By comparison Nordstrom appeared not to have a problem with the new accts in connection with my upgrade request (8 at the time) seems they based visa upgrade approval with CLI to 15k more so on the 1. score 2. thick file w/ no neg info, low reporting balances and 3. perfect history on the store account.

[Meltz]

Settle if I apply with a FICO around 720 but I have 4 new accounts in the last 6 months, but only 2 recent inq on experian, what would be my shot for the macys Amex?

Also, do you have a website where it lists all the features of the Macy's Amex, the rewards, and other product information?

[SBA]

Settle if I apply with a FICO around 720 but I have 4 new accounts in the last 6 months, but only 2 recent inq on experian, what would be my shot for the macys Amex?

Also, do you have a website where it lists all the features of the Macy's Amex, the rewards, and other product information?

I honestly can't tell you 100% you'd be approved for our AMEX with that FICO score and four new accounts in six months. For our decisioning software, that is a fair bit of new activity. Our decisioning software is very complex, with lots of variables in the algorithm we don't necessarily know the priorities and weighting within it.

So it is very hard for me to tell with your description.

For the features and benefits of the AMEX, just the other day we completely redesigned our credit services site, and it now describes far more than it did, so you can start there. We have a separate phone line for AMEX benefits, so if you call customer service and ask to be transferred to the AMEX benefits line, you'd be in good hands there.

For you, and others: If you already have a Macy's store account on file, please remember you can only apply for our AMEX on the telephone with us.

Our rules:

Have a Macy's store account, want an AMEX? Apply on the phone only
Don't have a Macy's store account, want an AMEX? Apply in store only

[virtualtreasure]

Our software is very, very, sensitive to reports with lots of new accounts and recent inquiries. Are you saying you have 8 new accounts, and 8 recent inquires? If I read that right, then that is the primary reason you were denied. Our system labels that a " possible bust out ", and declines it.

A request to obtain a Macy's AMEX account is not considered an upgrade in any way. For us, it is a brand new account, with no relation to the existing store account except as the store account appears on your Experian file as a component of your overall score and history. It is a brand new account, and we treat it completely separate from any Macy's store account. Macy's store account activity also is completely irrelevant to our software for new AMEX accounts.

Yeap, valid decline reason (although didn't think it would necessarily be a deal breaker on an upgrade request) "too many new accounts" in the past year (7- all have zero balances) Also mentioned large number of accounts-24 TLs oldest 25 yrs AAoA 6 yrs and commented that don't use the Macy's store card that much...

Since don't want any more new accts for the next couple of years, at least- a good outcome (was bored and made a bad decision to make an exception for an 'upgrade') and have only myself to blame for burning an EX inq (now 7 tot on EX, this was the only one in the last 8 months)

By comparison Nordstrom appeared not to have a problem with the new accts in connection with my upgrade request (8 at the time) seems they based visa upgrade approval with CLI to 15k more so on the 1. score 2. thick file w/ no neg info, low reporting balances and 3. perfect history on the store account.

7 new accounts in past year, 3 in past 6 months.
7 EX inq, including the one from Macy's Amex request, in the past 2 years.
The recent EX inq, from the denied Macy's Amex request, is the only EX inq in the past 8 months.

[SBA]

7 new accounts in past year, 3 in past 6 months.
7 EX inq, including the one from Macy's Amex request, in the past 2 years.
The recent EX inq, from the denied Macy's Amex request, is the only EX inq in the past 8 months.

No doubt all those new accounts did it. For our decisioning software, that is a LOT of new accounts. Our system has a label called " Possible Bust Out " it puts on certin applications or accounts. When it sees so many newly created accounts, and/or a range of recent inquiries on the EXP report (it can extrapolate and assume a lot of inquiries on one report might mean a lot more on TU and EQ), then it puts up a red flag.

The software is partially built on a history of bust outs where the applicant applies for a lot of new accounts, gets approved for a lot, charges up tens of thousands of dollars, and then " Busts Out ", and does not pay anything. They either declare BK, go into hiding, or leave the country. We are on the hook for our portion of that spree. Sometimes we get foreign applicants who are here long enough to establish an SSN and some history, then " Bust Out " before leaving the country with all those goods they purchased. It gets expensive for us, so our software is built to watch for certain indicators.

So our software is sensitive to many new accounts, again for resaons of risk.