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JR81

WTF Macy's

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I also won't be applying for the card I was planning on getting in a few months. It definitely won't hurt Macy's bottom line to lose *me* as a customer, but there are probably many more who will feel the same way.

 

Yes, I agree with you completely, and I do not blame you for reacting as you do to this decision. I have no doubt this will affect sales for a percentage of people who will choose to shop elsewhere, no doubt. But to jump from a credit granting decision like this to the " end of Macy's as we know it " not you who said this, I know--is a bit extreme.

 

Either way, I agree we are going to lose customers and business from this decision. Everyone here knows that, and it is a decision our executives made with all factors in mind.

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I like Macy's and will continue to shop there, but why did they decide to do this. It really doesn't make any sense. Are they going to expect to be paid in full every month now too (I do this anyway)? I know my limit was $2000. I called and spoke to someone about it, I could tell she was speaking from a script and I'm sure I was the one hundreth person she had spoken to about the matter. She asked me "How much do you want to spend?". I told her, "Right now I don't want to spend anything. I'd just like to know how much spending power I have in case I wanted to buy something for $2000.". She stated I would have no problem purchasing that amount. I don't like this not one bit. I became a little "smart" with the CSR. I hope she didn't cut my guideline in half for being a smart flowers. I jut want to know why. I'll still continue to use the card.

<bump>

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I like Macy's and will continue to shop there, but why did they decide to do this. It really doesn't make any sense. Are they going to expect to be paid in full every month now too (I do this anyway)? I know my limit was $2000. I called and spoke to someone about it, I could tell she was speaking from a script and I'm sure I was the one hundreth person she had spoken to about the matter. She asked me "How much do you want to spend?". I told her, "Right now I don't want to spend anything. I'd just like to know how much spending power I have in case I wanted to buy something for $2000.". She stated I would have no problem purchasing that amount. I don't like this not one bit. I became a little "smart" with the CSR. I hope she didn't cut my guideline in half for being a smart flowers. I jut want to know why. I'll still continue to use the card.

<bump>

 

 

No, the calls are monitored, and if she had done that she may have lost her job. You don't have to worry about that. I am sorry this has caused you problems. :search:

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Personally, Settle, I think you are cool as heck. I'm sorry you are in the middle of this. But I do appreciate the way you always take the time and answer our questions.

 

Thank you!!

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Personally, Settle, I think you are cool as heck. I'm sorry you are in the middle of this. But I do appreciate the way you always take the time and answer our questions.

 

Thank you!!

 

 

No problem, I do it all day long. I am, of course, a consumer also, and I can relate to how maddening some of these decisions are, how they affect you all, and how powerless the decisions sometimes seem to make us feel.

 

I am happy to help, even though in this situation I am clearly unable to help directly. :warning:

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I like Macy's a lot and shop there quite frequently. The coupons are great and the prices are reasonable. So yes, I'll still shop there as this is more an annoyance than a reason to close the card...but I still don't like it. Especially how they pulled this move without informing cardholders. That was just stupid.

 

I second mmmagique's comments, Settle - it's cool of you to answer questions. Good on ya. :)

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Personally, Settle, I think you are cool as heck. I'm sorry you are in the middle of this. But I do appreciate the way you always take the time and answer our questions.

 

Thank you!!

 

 

No problem, I do it all day long. I am, of course, a consumer also, and I can relate to how maddening some of these decisions are, how they affect you all, and how powerless the decisions sometimes seem to make us feel.

 

I am happy to help, even though in this situation I am clearly unable to help directly. :warning:

 

:good:

 

Do the previous "guideline limits" for each customer still exist on the CS side, though? I realize customers now do not have access to the limit and they do not print on statements, but...if we had a sizeable guideline before, does it still exist in some form on your end? Will the check out approvals be automated at the cashier?

 

What I am getting at is there has to be some limit set systematically to process an automated card use approval.

 

Is that set limit the same for all and any higher ticket purchases all manually approved? Or, if we had a sizeable limit before 20Kish, will the same transactions we completed go through as usual?

 

See what I'm getting at? Maybe you cannot divulge the info but if so please advise as I'd to know :lol:

Edited by TrevorHere

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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.

 

Closing an account will not affect your AAOA until the account falls off your report. For positive accounts, that's 10 years or so.

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Its hard to say this especially since I use to spend an insane amount of money in Macys, but perhaps their new approach to credit privileges should also be a wake-up call for us as well. Before shopping we should have a plan and a budget in mind. Do I really need another tie to add to my 200 other ties I wear once a year?

 

Otherwise your just buying stuff you don't really need. Yes, having high "credit" limits are great. But having tangible money in my savings account feels so much better. Just a thought.

 

Spoonie

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Its hard to say this especially since I use to spend an insane amount of money in Macys, but perhaps their new approach to credit privileges should also be a wake-up call for us as well. Before shopping we should have a plan and a budget in mind. Do I really need another tie to add to my 200 other ties I wear once a year?

 

Otherwise your just buying stuff you don't really need. Yes, having high "credit" limits are great. But having tangible money in my savings account feels so much better. Just a thought.

 

Spoonie

 

Save ourselves from ourselves? :lol:

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I don't get this "I have to call before I go" stuff. Is your Macy's card your only form of payment? Surely getting "declined" on your Macy's account will have no stigma if the cashier knows that Macy's approves each transaction individually. So, you say "try it on my Macy's charge" and she says "ooh, no, didn't go through" and you say "ah, very well, here's a Visa."

 

Done, right?

 

I mean if you'd be mortified if your Macy's account is declined, ok, but why? Why would that upset you so much?

 

Also, as for everybody crowing about utilization... There are a lot of cards with no preset limit. This is handled fine by Fico. It won't appear as tho you've maxed-out a credit card. Fico is in the business of modeling risk, they have no incentive to penalize you for using a certain type of credit product unless of course use of that type of credit product correlated with additional risk. In this case, it, of course, does not.

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I don't get this "I have to call before I go" stuff. Is your Macy's card your only form of payment? Surely getting "declined" on your Macy's account will have no stigma if the cashier knows that Macy's approves each transaction individually. So, you say "try it on my Macy's charge" and she says "ooh, no, didn't go through" and you say "ah, very well, here's a Visa."

 

Done, right?

 

I mean if you'd be mortified if your Macy's account is declined, ok, but why? Why would that upset you so much?

 

Also, as for everybody crowing about utilization... There are a lot of cards with no preset limit. This is handled fine by Fico. It won't appear as tho you've maxed-out a credit card. Fico is in the business of modeling risk, they have no incentive to penalize you for using a certain type of credit product unless of course use of that type of credit product correlated with additional risk. In this case, it, of course, does not.

 

The only incentive I have for shopping at Macys is all the freakin

coupons they send for using their card. If I was declined for a charge

on their card I would just say thanks but no thanks and take my business

else where and use the Visa card with rewards else where.

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I don't get this "I have to call before I go" stuff. Is your Macy's card your only form of payment?

 

The reason I shop at Macy's is for the amazing deals from the coupons they mail out. Those coupons require you to pay with your Macy's card. So in order to take advantage of the discount, the Macy's card is the only form of payment.

 

Until Macy's changes their policy there are plenty of other stores that would love to have my purchases without making me call in beforehand or force me to wait through a credit review while standing at the cashier.

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Its hard to say this especially since I use to spend an insane amount of money in Macys, but perhaps their new approach to credit privileges should also be a wake-up call for us as well. Before shopping we should have a plan and a budget in mind. Do I really need another tie to add to my 200 other ties I wear once a year?

 

Otherwise your just buying stuff you don't really need. Yes, having high "credit" limits are great. But having tangible money in my savings account feels so much better. Just a thought.

 

Spoonie

I like your way of thinking. Silver lining and all that.

 

I don't get this "I have to call before I go" stuff. Is your Macy's card your only form of payment? Surely getting "declined" on your Macy's account will have no stigma if the cashier knows that Macy's approves each transaction individually. So, you say "try it on my Macy's charge" and she says "ooh, no, didn't go through" and you say "ah, very well, here's a Visa."

 

Done, right?

 

I mean if you'd be mortified if your Macy's account is declined, ok, but why? Why would that upset you so much?

 

Also, as for everybody crowing about utilization... There are a lot of cards with no preset limit. This is handled fine by Fico. It won't appear as tho you've maxed-out a credit card. Fico is in the business of modeling risk, they have no incentive to penalize you for using a certain type of credit product unless of course use of that type of credit product correlated with additional risk. In this case, it, of course, does not.

A. Because every time you get denied it's like Macys is telling everyone around you (not only the cashier) they think that you don't have the money to pay for this. That's embarrassing. Should we care what others think? No. On that assumption...

 

B.t's still very humbling to have to question every purchase you make. If all of your visa mastercards and amexs were to tell you actually approvals will be made on a base by base case, would you really use your credit cards everywhere? You can't sincerely answer yes to that unless you're the type of person that enjoys the loan application process and F/Rs. It's a pain, and... It negates the whole point of getting credit. They are supposed to extend credit to you, not give you a short term loan every week, day, or hour, depending on how often you do transactions.

 

C. Anyone who says ahh well here's a visa sounds like they're expecting the decline. Who gets declined and doesn't question... hmm... wonder why that happened.... what's changed... I still make the same money.... I'm still paying my bills on time.... weiiird..

 

D. For utilization: See Trevors recent experiment with his 50k card and reporting a high balance.

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I am not sure why I am not that upset at Macy's doing this. It could be that i do not buy anything from Macy's that is even close to my previous GL. The AMEX charge cards do this all the time and they are highly regarded because of it.

 

Has anyone actually experienced a decline at the register?

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I am not sure why I am not that upset at Macy's doing this. It could be that i do not buy anything from Macy's that is even close to my previous GL. The AMEX charge cards do this all the time and they are highly regarded because of it.

 

Has anyone actually experienced a decline at the register?

That's the point, your old GL is a moot point now. They could decline you for a $10 purchase if they chose to. Is that realistic? Who knows! Well, maybe Settle, lol. Settle can you expand on the new policy at all?

 

Amex doesn't do this, as previously discussed, they give you a pretty good understanding of what your 'comfort level' is.

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Yep called Bloom as well, my Bloom card shows 0.00 on my CRs and the rep said if i try to charge something their internal scoring will kick in and if the amount im trying to charge is above the threshold they associate will call credit services and then the credit services rep will give you the amount you can charge and will ask for a different card or currency for the remainder.

 

 

oye !!

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Its hard to say this especially since I use to spend an insane amount of money in Macys, but perhaps their new approach to credit privileges should also be a wake-up call for us as well. Before shopping we should have a plan and a budget in mind. Do I really need another tie to add to my 200 other ties I wear once a year?

 

Otherwise your just buying stuff you don't really need. Yes, having high "credit" limits are great. But having tangible money in my savings account feels so much better. Just a thought.

 

Spoonie

I like your way of thinking. Silver lining and all that.

 

I don't get this "I have to call before I go" stuff. Is your Macy's card your only form of payment? Surely getting "declined" on your Macy's account will have no stigma if the cashier knows that Macy's approves each transaction individually. So, you say "try it on my Macy's charge" and she says "ooh, no, didn't go through" and you say "ah, very well, here's a Visa."

 

Done, right?

 

I mean if you'd be mortified if your Macy's account is declined, ok, but why? Why would that upset you so much?

 

Also, as for everybody crowing about utilization... There are a lot of cards with no preset limit. This is handled fine by Fico. It won't appear as tho you've maxed-out a credit card. Fico is in the business of modeling risk, they have no incentive to penalize you for using a certain type of credit product unless of course use of that type of credit product correlated with additional risk. In this case, it, of course, does not.

A. Because every time you get denied it's like Macys is telling everyone around you (not only the cashier) they think that you don't have the money to pay for this. That's embarrassing. Should we care what others think? No. On that assumption...

 

B.t's still very humbling to have to question every purchase you make. If all of your visa mastercards and amexs were to tell you actually approvals will be made on a base by base case, would you really use your credit cards everywhere? You can't sincerely answer yes to that unless you're the type of person that enjoys the loan application process and F/Rs. It's a pain, and... It negates the whole point of getting credit. They are supposed to extend credit to you, not give you a short term loan every week, day, or hour, depending on how often you do transactions.

 

C. Anyone who says ahh well here's a visa sounds like they're expecting the decline. Who gets declined and doesn't question... hmm... wonder why that happened.... what's changed... I still make the same money.... I'm still paying my bills on time.... weiiird..

 

D. For utilization: See Trevors recent experiment with his 50k card and reporting a high balance.

 

Sorry I was just talking common sense.

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Yep called Bloom as well, my Bloom card shows 0.00 on my CRs and the rep said if i try to charge something their internal scoring will kick in and if the amount im trying to charge is above the threshold they associate will call credit services and then the credit services rep will give you the amount you can charge and will ask for a different card or currency for the remainder.

 

oye !!

 

Online ordering is a bit more complex than that, for a range of reasons. Our system won't allow you to combine payment types for the same order. So you can't charge $100 on your Macy's card, another $100 on your Chase VISA, for the same order.

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I am not sure why I am not that upset at Macy's doing this. It could be that i do not buy anything from Macy's that is even close to my previous GL. The AMEX charge cards do this all the time and they are highly regarded because of it.

 

Has anyone actually experienced a decline at the register?

That's the point, your old GL is a moot point now. They could decline you for a $10 purchase if they chose to. Is that realistic? Who knows! Well, maybe Settle, lol. Settle can you expand on the new policy at all?

 

Amex doesn't do this, as previously discussed, they give you a pretty good understanding of what your 'comfort level' is.

 

 

This is all brand new for us as well. We are implementing it, as well as we can, according to the policies and software. There have been plenty of declines at the register, yes.

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That's the point, your old GL is a moot point now. They could decline you for a $10 purchase if they chose to. Is that realistic? Who knows! Well, maybe Settle, lol. Settle can you expand on the new policy at all?

 

Amex doesn't do this, as previously discussed, they give you a pretty good understanding of what your 'comfort level' is.

I understand that the old GL is all gone now but still, for some reason that does not bother me. I am almost 100% confident I will never be turned down trying to charge $10 to my Macy's card. What is so bad about them assessing your purchasing power every time. I have nothing to worry about not because I have great credit. I am just not worried because I never try to test my limits. I always, and i do mean always, PIF all my balances. Except for the mortgage, I pay no interest as I never buy anything that I cannot buy right now. I only carry CC to 1) establish great credit 2) get some perks/rewards.

 

 

I understand everyone's point of view and can see how it might frustrating. I hope it all works out tough.

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