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WTF Macy's

The last post in this topic was posted 3237 days ago. 

 

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But then it won't count towards utilization, if they don't report the credit limits, like Amex charge cards. Right?

 

I'm not sure, but I'm not taking a chance on it. I just went online and paid it down to zero. It will stay that way until they decide to close it for me due to non-use.

They are dumb as a box of rocks. No one is going to want to risk the embarassment of being declined at the register in front of God & everyone! And are people really going to call and ask permission to spend a certain amount before they shop? Not likely.

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Don't forget the "You can't get an Macys card without a 700 score, no matter what". Settle, if you chime in here, is that only for Macys Amex, or store cards too?

 

 

I have a Macy's card and I had no where near a 700 when I got it. It's the store card, not the Amex version.

Did you open it recently, since Amex was involved?

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Don't forget the "You can't get an Macys card without a 700 score, no matter what". Settle, if you chime in here, is that only for Macys Amex, or store cards too?

 

 

I have a Macy's card and I had no where near a 700 when I got it. It's the store card, not the Amex version.

Did you open it recently, since Amex was involved?

 

 

DH did and he had a 681 at the time, denied for AMEX, approved for store card.

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Ah, must be amex only then.

 

Ah, no.

This is from customer service chat, discussing a regular (non-AMEX) account:

 

 

Instead of setting a specific credit limit for your account, we prefer to be as flexible as possible to meet your purchasing needs as well as evaluating based on factors such your Macy’s account history and/or your external credit record. Since these factors change, we determine what amount can be charged to your Macy’s account at the time of the transaction.

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Good news. A new user (account less than 40 days old) who asked if they would be allowed to go approximately 20% over their limit was told yes.

 

There is hope for this system. Not perfect, but there is some hope.

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Ah, must be amex only then.

 

Ah, no.

This is from customer service chat, discussing a regular (non-AMEX) account:

 

 

and/or your external credit record.

 

I bet they will start soft pulling for purchases over a certain amount. They are weeding out their CC holders...

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Customer Chat

 

Chat Transcript

 

Please wait while we find an agent to assist you...

 

You have been connected to Rep B.

 

Rep B: Welcome to Macy's live chat service.

 

Rep B: I see your question and would be happy to review your inquiry. May I have your account number?

 

Txbaycpa: ########

 

Rep B: Thank you, can you please verify the last 4 digits of your social security number and your date of birth?

 

Txbaycpa: ####

 

Txbaycpa: ######

 

Rep B: Thank you.

 

Rep B: Instead of issuing a set credit limit for your account, we prefer to be as flexible as possible to meet your purchasing needs based on factors such as your Macy's account history and/or your external credit record. Since these factors change, we determine what amount can be charged to your Macy's account at the time of the transaction. Is there a specific amount that you were planning to spend?

 

Txbaycpa: So you mean I have to wait until I am standing at the register checking out before I know whether or not my transaction will be approved?

 

Rep B: Once you have determined the amount that you would like to spend, if you contact us, we are able to verify if we will be able to approve the purchase.

 

Txbaycpa: When I go shopping I don't plan in advance on the amount I wish to spend. I am not going to call and ask permission for a random amount to be approved.

 

Txbaycpa: Does this also mean you will be checking my credit report with every transaction?

 

Rep B: It would not be necessary that we review your Credit Report for every transaction.

 

Txbaycpa: How often would it be checked then? Why do I need an approval at the time of each transaction if you are not pulling my credit each time?

 

Rep B: The review is not solely based on external Credit information. It is based on your account history as well. Unfortunately, I would be unable to verify when we would review your Credit report.

 

Txbaycpa: Would this be a hard pull or a soft pull on my credit report?

 

Rep B: I am unable to confirm what type of inquiry would be made.

 

Txbaycpa: So what credit limit would be reported to the credit bureaus? Would it show the same as my balance?

 

Rep B: Since we have no set credit limit on the account, one is not reported to the Credit Bureau.

 

Txbaycpa: So that would mean my card would show 100% utilization any time I had any balance, whatsoever. That would hurt my credit score.

 

Rep B: If you have specific inquiries regarding information that is listed on your Credit Report in regard to this account, it would be necessary that you contact our New Accounts department at 1-800-627-2909.

 

Txbaycpa: Not only are customers going to be embarrassed at the register and unsure if they will be approved for a purchase until they are standing at the register in front of everyone, but now Macy's will be hurting our credit as well. This is no way to treat customers. I will be paying off and either cancelling my card promptly or sticking it in a drawer to not be used again.

 

Rep B: I am sorry for any frustration. If you would like to shop and then call us with an amount you would like to purchase before you go to the register, we can let you know if the amount would be available on your account.

 

Txbaycpa: That's like asking your Mom for permission to buy candy!

 

Txbaycpa: Ridiculous.

 

Txbaycpa: Before this change, we knew our available credit and could shop with comfort and confidence. Now we will use a different card or shop elsewhere.

 

Rep B: I certainly understand your concern. This is a change to our previous practices and going forward we will be unable to provide you with that information.

 

Txbaycpa: Like I said, I will be cancelling or leaving the card unused starting immediately. Thank you for your time.

 

Rep B: You're welcome. I am very sorry to hear that.

 

Txbaycpa: You'll be hearing a lot of it, I assure you

 

Rep B: Do you have any additional questions I may assist you with today?

 

Txbaycpa: No more questions

 

Rep B: Thank you for visiting Macy's. Please contact us at any time.

 

 

Edited by txbaycpa

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Ah, must be amex only then.

 

Ah, no.

Ah, if you followed the conversation you would see we (the conversation I was in) were talking about requiring scores over 700, not about credit limits.

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I agree that they are weeding out people.

 

But, I don't mind so far (waiting on new kicks I just ordered. My current shoes are an embarrassment ).

 

I am rebuilding, so I haven't outgrown them at all.

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I am rebuilding,

No I am rebuilding. You can't take my name!

 

 

 

 

 

Just kidding.

Edited by Rebuilding2010

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This is scary enough in itself to put this red card away...

 

Txbaycpa: Would this be a hard pull or a soft pull on my credit report?

 

Rep B: I am unable to confirm what type of inquiry would be made.

 

Hards to EX if this were the case to approve my purchase would make me a bit angry >.>

 

~JD

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DH did and he had a 681 at the time, denied for AMEX, approved for store card.

 

Since we pull Experian, and we use the EXP FICO score, where did you get your EXP FICO score of 681? Our standards for the store account are far lower than for an AMEX account.

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Don't forget the "You can't get an Macys card without a 700 score, no matter what". Settle, if you chime in here, is that only for Macys Amex, or store cards too?

 

Yes, this applied to our AMEX accounts for new applications, not our store accounts. Two completely different standards.

Edited by Settle

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I called today to see what my available credit was. The automated system didn't tell me my credit line, so I had to wait until 9am when they opened. I was just informed that effective yesterday there are no more credit lines. Instead Macy's will either approve or decline your purchase at the time of sale. This makes no sense what so ever!

 

New policy, just handed down last week, it took effect this week.

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Good gravy, what are they thinking???!!! I'll be putting that one in the sock drawer pronto. Having any balance whatsoever would kill utilization since they aren't going to report a limit. salamanders.

:aggressive:

 

We have not been reporting limits on our store accounts for almost a year now. That ended just after the Credit Card Act took effect in March 2010. Instead of thinking utilization, think " Age " as the reason for keeping a Macy's account.

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I'm really sick and tired of Macys the way they've been changing their credit card accounts. First they stop reporting credit limits, now they've eliminated credit limits!?!?! I think it's time to close out this account and move over to Nordstrom.

 

I'm sure thousands of others are feeling the same way.

 

If you have a Macy's account with age, why would you want to close it? Only if you have a solid AAofA, which would not be affected by the closing of this account. Just my opinion.

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DH did and he had a 681 at the time, denied for AMEX, approved for store card.

 

Since we pull Experian, and we use the EXP FICO score, where did you get your EXP FICO score of 681? Our standards for the store account are far lower than for an AMEX account.

 

Oops, that was his EQ at the time. However, he now gets EX from PSECU and it is very similar to his EQ score each month.

 

Once he reaches 700, can we ask for the store card to be converted?

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DH did and he had a 681 at the time, denied for AMEX, approved for store card.

 

Since we pull Experian, and we use the EXP FICO score, where did you get your EXP FICO score of 681? Our standards for the store account are far lower than for an AMEX account.

 

Oops, that was his EQ at the time. However, he now gets EX from PSECU and it is very similar to his EQ score each month.

 

Once he reaches 700, can we ask for the store card to be converted?

 

Absolutely, but we don't " convert " to AMEX, we ADD an AMEX account if you qualify. You/he will get a second account number, this an AMEX account with a brand new acct number, history, a true limit, different payment dates, amounts, etc.

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