Macys Visa

[Jay1]

I called Macys tonight and tried to get them to convert my card to a Macys Visa, I don't shop at Macys much only used the card twice at Christmas. It only has a $200 limit, I though maybe if they would convert it I could use it more. The rep said I would get a letter in 7 to 10 days bad news I'm sure. Does anybody know if this is going to be a hard pull?

[cireone]

Yes, it will be. I hate to burst your bubble but the Macys store card and the Visa are handled by two different departments. So, if you request for a conversion or a new Visa it will be a hard pull. I tried to do this before and the result was negative also. I believe you have to have a decent score to qualify for the Visa.

[wmarat]

Well, my experience a little different. I've got invitation to convert to Visa. When I accept the invitation it was hard free.

[Jay1]

Do you remember what your scores looked like at that time?

[wmarat]

do You Remember What Your Scores Looked Like At That Time?

720-730

[Meya]

Good luck on the approval! Basically what they have done was started an application process for a Macy's Visa. I do believe you are going to get a hard pull because it is not like you are asking for a cli or received an upgrade to your current card. I know when I was talking to someone at cap1 when requesting a cli, the rep was trying to get me to "apply" for the Cap1 rewards card. I was told that I would get a hard pull if I decided to go for it, so I am assuming that since the cards are separate, it will take a separate application process.

[interjack]

Good luck on the approval! Basically what they have done was started an application process for a Macy's Visa. I do believe you are going to get a hard pull because it is not like you are asking for a cli or received an upgrade to your current card. I know when I was talking to someone at cap1 when requesting a cli, the rep was trying to get me to "apply" for the Cap1 rewards card. I was told that I would get a hard pull if I decided to go for it, so I am assuming that since the cards are separate, it will take a separate application process.

Just to back up what you were saying, DSNB backs the Macy's store card. The Visa is backed by Citi, so I would imagine that if you request the card, that they would do a hard pull for Citi.

[hjm331]

I also have the regular Macy's store card. I really don't want the Visa nor do I need it.

[interjack]

I have a few customers that always use their Macy's Visa. The interest rate is one of the worst that I have seen.

[hjm331]

Is it around 22-23%?

[interjack]

I think that the disclosure form that I read stated that it was 23.9% or 26.9% meaning that you could qualify for either/or depending on your credit.

[Meya]

Well if that is the case, I definitely would not want one because i have suprimed visa's with Apr's lower than that. IMO, I don't see the use of a Macy's Visa, and you don't really shop at Macy's, you are paying them big bucks just to have a visa logo in their name.

[ColoNative]

Like cireone said, you cannot get out of having two trades if you get the Macy's Visa. When you use the Visa at Macy's those charges go to a separate retail trade.

I was automatically approved for the Visa when I went to apply at the store, I did not check the box for "consider me only for the Macy's card." The Visa came with a $10K limit but when I found out that they were two trades I closed the Visa and got them to remove it from my bureaus.

Six months later they try to get me to open another..geesh. It had a terrible interest rate as well. No thanks. The only benefit is once you've upgraded to Gold or better, then you can earn rewards but still not worth it.

[Jay1]

I haven't seen the hit yet on True Credit but that doesn't mean its not coming I think I only get to see the inquiries from the other CRs EQ and EX once a month. I would have like to have had the Visa as I only have Mastercard's and a Discover.

[hjm331]

I'm happy with my Macy's store card. I'll pass on their Macy's Visa.