"Macy's Visa Gold"

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Written by: 7wonders on 2008-11-21

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7wonders's review: Callout Comment Let me just say this regarding Macy's. I have been a card holder since 1995 (even before Macy's bought out Marshall Fields i. E. BANK CARD SERVICES) and now a Macy's Visa Gold card holder with a $2,000 CL for the past 2 years. There are loads of Pro's & Conn's I could tell you all about this card, but I have held onto it permanently since it is one of my oldest lines of credit in my arsenal. I very seldom put it to use, and they have actually decreased my limit on 3 occasions since 1995 and the most recent occurred in the past 6 months (from $5,500 to $2,000) without warning or any explanation. It's also a difficult card to get, if you're applying for new credit. Unless you're like myself, and have been a card holder for years, I do not recommend chasing after this one my friends.


Comment 1 by thomas1
Macy's User Icon on 2008-11-21

Remarks I agree with you. I have no desire for ANY department store credit card whatsoever, but I do carry a BELK card. The only reason I haven't closed it is because I've had it for over 10 years and would lose big points if I did.

My limit on the card is 2400$ and I haven't had any decreases on it, although GEMB is decreasing limits.

I use it maybe twice a year for some lacoste shirts, and pay it off.
Comment 2 by meya
Wrong User Icon on 2008-11-21

Remarks If I had to have a store card, I would prefer to have one with a store that I shop at the most. Macy's, in my opinion is one of the best store cards to have, especially for those who are rebuilding credit. I can clearly understand where you 2 are coming from because I used to say the same thing when it came down to dept store cards. Actually I do feel the same way but, I just say, what's the use in having a card where you do not shop at!

I am about to sneak in there today and purchase me some more clothes. I hate it when they send me those darn $25 and 25% off coupons because my hand starts to shake and I start to see clothes that I have never seen before. I shop there so much until I have to run home, throw away the bag outside or at the bottom of my garbage can, snatch off the tags, and mix them with the clothes that are in the back of my closet because I am tired of hearing my husband mouth about me shopping. Hell, I figure it is my card, I am the one who pays it back (Well never mind) and I think he is jealous because I look so geared in my Baby Phat, Rockawear... Etc.

You know what, this is another story, I am just finding an excuse to why I can't stay out of Macy's... Lmao!
Comment 3 by colonative
Macy's/Bloomingdale's Visa User Icon on 2008-11-21

Remarks I would agree that the Visa is not a smart option; however, I agree with Meya that the STORE card is a great choice.

When I applied at the store last year they gave me the Visa without me knowing it. Well, Macy's and Bloomindale's will first consider you for the Visa card. But, when you use your Macy's Visa at Macy's it gets transferred to a retail trade with its own account number. Who the heck needs two Macy's trades on their bureaus???

Point is, the Visa had a high interest rate and you don't earn rewards on outside purchases until you have been upgraded to at least Gold Star Rewards-and to get Gold Star rewards you have to spend $500 AT Macy's. So even if you spend $1,500 at various merchants it does not count towards the upgrade.

I had my Visa closed and removed from my credit bureaus, and that was a pain!
Comment 4 by charonh
ColoNative! User Icon on 2008-11-22

Remarks I agree with you, I had the Visa Gold, paid it off, and closed it basically for similar reasons. The APR is just ridiculous, especially if you're incapable of PIF each month. I still have the reqular card and am satisfied.
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