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WTF Macy's

The last post in this topic was posted 3240 days ago. 

 

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But, I believe their real motive is to keep very tight control on the consumer's ever changing status. The fact that they refuse to grant a limit number now indicates that they intend to adjust it periodically depending on the consumer's current credit status. This way they need not inform the consumer of said adjustment. The nonsense about protecting the consumer is just silly. It's about protecting Macy's. While I do understand that goal, it may come at a certain price. We shall see...

 

Our most recent information (today) seems to indicate this is a temporary situation. Supposedly, new policies are right around the corner, possibly in a few weeks :clapping:

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Hopefully that's true or Macy's stands to lose alot of customers (myself included). Macy's also needs to provide a better way to upgrade to the AMEX card. Customers with strong 700+ credit scores should be offered the upgrade through soft pull quarterly reviews. They should also offer a way to apply for the upgrade on-line and offer an instant on-line decision as their competitors do.

 

The current requirement of "must apply in-store" and then wait 30 to 60 days for an answer is ridiculous with today's technology. A decision should be made immediately.

Edited by sonja

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Sounds like Macy's is getting screwed by non-paying cardholders. I imagine all the B&M stores are fighting to keep their heads above water.

 

That said, if I shop at Macy's, I'll make sure to pick a register where there's no one else in line. I'll also have to make sure I'm not shopping with friends. Might be easier to just shop online ... or not risk it at all, since according to at least one rep there's no definitive answer as to whether an attempted purchase will trigger a hard inq.

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Sounds like Macy's is getting screwed by non-paying cardholders. I imagine all the B&M stores are fighting to keep their heads above water.

 

That said, if I shop at Macy's, I'll make sure to pick a register where there's no one else in line. I'll also have to make sure I'm not shopping with friends. Might be easier to just shop online ... or not risk it at all, since according to at least one rep there's no definitive answer as to whether an attempted purchase will trigger a hard inq.

 

Our most recent information (today) seems to indicate this is a temporary situation. Supposedly, new policies are right around the corner, possibly in a few weeks :yahoo:

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What in the world are they thinking? Why would they put this in place for only a few weeks, only to move to something else? There has to be a better way to manage risk than this.

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What in the world are they thinking? Why would they put this in place for only a few weeks, only to move to something else? There has to be a better way to manage risk than this.

 

Compliance is their answer.

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I agree. It certainly diminished any confidence customers once had in Macy's. I think the next few weeks will be damage control for them. If they restore some common sense policies and give customers some incentives to remain customers, maybe this circus of events will be forgotten.....

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What in the world are they thinking? Why would they put this in place for only a few weeks, only to move to something else? There has to be a better way to manage risk than this.

 

Compliance is their answer.

 

Compliance with what?? I'm confused.

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Compliance with what?? I'm confused.

"

 

 

CITICORP, our underwriter. We are still learning about it, but supposedly this is an extreme, temporary solution until a range of changes are implemented in a few weeks.

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Too funny Bob!! I don't think many people will be running down to Macy's for anything until they clear up this P.R. nightmare!

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Compliance? Seriously? Management changes needed at Macy's.

 

 

Hmm, not sure if that is going to happen anytime soon. Operating income in 2010, just reported recently, was higher than it has been in a long, long, time. :search:

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Compliance with what?? I'm confused.

"

 

 

CITICORP, our underwriter. We are still learning about it, but supposedly this is an extreme, temporary solution until a range of changes are implemented in a few weeks.

 

It would have made much more sense to leave everything as is, then implement the new changes. Instead they make this temporary change with no notice to customers, lemonade off a good chunk of their customer base, and are THEN planning to make even more changes? Sheesh. Hopefully we'll get notice and explanation of those changes since they'll be permanent.

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It would have made much more sense to leave everything as is, then implement the new changes. Instead they make this temporary change with no notice to customers, lemonade off a good chunk of their customer base, and are THEN planning to make even more changes? Sheesh. Hopefully we'll get notice and explanation of those changes since they'll be permanent.

 

I understand, but with 20 million Macy's store account holders, most were unaffected. Even this thread has people who have posted with no known effects from this change.

 

We apologize for all the issues this may have caused. :dntknw:

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It would have made much more sense to leave everything as is, then implement the new changes. Instead they make this temporary change with no notice to customers, lemonade off a good chunk of their customer base, and are THEN planning to make even more changes? Sheesh. Hopefully we'll get notice and explanation of those changes since they'll be permanent.

 

I understand, but with 20 million Macy's store account holders, most were unaffected. Even this thread has people who have posted with no known effects from this change.

 

We apologize for all the issues this may have caused. :dntknw:

 

You don't have to apologize, Settle - unless you're the exec who made the decision. :lol:

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You don't have to apologize, Settle - unless you're the exec who made the decision. :lol:

 

I am not, I assure you. :search: We are getting more information as time goes on.

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:D Macy's is the reason I use my Nordstroms card even more. I love designer fragrances and my reward checks can be used towards my purchase, but you cannot do that with Macy's on designer items. I closed oneof my Macy's accts about two months ago! :beee:

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I have a 3K limit on my Macy's card and today decided to do my usual spending to see what will happen. well I charged five hundred dollars worth of items and it went through with no problems...so now I will pif and wait see what changes they have coming before I charge anything again.

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I have a 3K limit on my Macy's card and today decided to do my usual spending to see what will happen. well I charged five hundred dollars worth of items and it went through with no problems...so now I will pif and wait see what changes they have coming before I charge anything again.

 

Yes, that is the way most of our customers are experiencing the recent changes--to most, it is seamless.

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:D Macy's is the reason I use my Nordstroms card even more. I love designer fragrances and my reward checks can be used towards my purchase, but you cannot do that with Macy's on designer items. I closed oneof my Macy's accts about two months ago! :beee:

 

There IS no comparison between Macy's and Nordys for anything ;)

 

Macy's in my area took over Marshall fields (formerlyDaytons) stores which were very classy stores....so I shop there periodically. But I do miss Marshall Fields.

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