"Macy's Credit Policies"
Macy's Credit Card® Review
Written by: kalamazoo2714 on 2012-10-30
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kalamazoo2714's review: 
In May 2012 I applied for a Macy's online. It said I was approved for $300.00 but when I went to make online purchase for the discount it was declined. I called They asked a bunch of security questions about people I know, places I've lived or worked and credit/banking history. Then The rep said I could use it and said my limit was $600.00 I asked I thought it was $300.00 she said that was only till they verified my identity. Why they didn't verify first and just outright give the $600.00 I don't know. Then in July after 2 months increased to $700.00 Now the holidays are here I asked for an increase they denied me and my payment's have been outstanding. The hard pull was Experian but their monthly score updates (soft) come from Equifax so people know. If they want to know. I got a car loan a month after my Macy's and got hit with a bunch of Inquiries which could be why I can't get increased now. Scores at car loan: TU-671, Eqx-617, Exp-630. Score at limit review that was denied using equifax this month Eqx-595
In May 2012 I applied for a Macy's online. It said I was approved for $300.00 but when I went to make online purchase for the discount it was declined. I called They asked a bunch of security questions about people I know, places I've lived or worked and credit/banking history. Then The rep said I could use it and said my limit was $600.00 I asked I thought it was $300.00 she said that was only till they verified my identity. Why they didn't verify first and just outright give the $600.00 I don't know. Then in July after 2 months increased to $700.00 Now the holidays are here I asked for an increase they denied me and my payment's have been outstanding. The hard pull was Experian but their monthly score updates (soft) come from Equifax so people know. If they want to know. I got a car loan a month after my Macy's and got hit with a bunch of Inquiries which could be why I can't get increased now. Scores at car loan: TU-671, Eqx-617, Exp-630. Score at limit review that was denied using equifax this month Eqx-595
2 Comments
Comment 1 by wildrage2
Re: Macy's Credit Policies 
on 2012-10-31
I gave up on Macys. I got a card a few years ago. I started with a $300 limit as well, raised to $1,000 after security questions. At some point it got raised to $2500, then they got rid of limits - more like they dropped everyone's limts and wouldn't tell them what they were...you would just have to guess if your card would be declined or not.
Now they have limits again, and my limit is only $700. A few years ago when my limite was $2500 my FICO was around 610. Now my FICO is closer to 800 and my limit is only $700.
Now, when I shop at Macy's, and they say I'll get 10% of or whatever if I use my card, I still don't use it. My AMEX has good rewards, and I don't have to guess if it is going to be declined or not...not worth the embarassment for me. I'm going to cancel my Macy's whenever I get around to it.
on 2012-10-31 I gave up on Macys. I got a card a few years ago. I started with a $300 limit as well, raised to $1,000 after security questions. At some point it got raised to $2500, then they got rid of limits - more like they dropped everyone's limts and wouldn't tell them what they were...you would just have to guess if your card would be declined or not.Now they have limits again, and my limit is only $700. A few years ago when my limite was $2500 my FICO was around 610. Now my FICO is closer to 800 and my limit is only $700.
Now, when I shop at Macy's, and they say I'll get 10% of or whatever if I use my card, I still don't use it. My AMEX has good rewards, and I don't have to guess if it is going to be declined or not...not worth the embarassment for me. I'm going to cancel my Macy's whenever I get around to it.
Comment 2 by bc8787
Re: Macy's Credit Policies on 2012-11-04
The denial was not because of your inquirys because of your car loan. When a dealer sends your credit report to banks to get you approved it counts at 1 inquiry. It was because You have taken out thousands of new debt (your car loan) in a short period of time. Lenders see multiple requests for increase of credit in short periods of time as high risk. That was the reason for denial.
on 2012-11-04 The denial was not because of your inquirys because of your car loan. When a dealer sends your credit report to banks to get you approved it counts at 1 inquiry. It was because You have taken out thousands of new debt (your car loan) in a short period of time. Lenders see multiple requests for increase of credit in short periods of time as high risk. That was the reason for denial.
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Disclaimer: This content is not provided by Department Stores National Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Department Stores National Bank. Review content is powered by Finance Globe.
