Psst...notice anything different?
We just got a makeover! We hope you'll love our new look.

Macy’s Credit Card Review

Caryn Anderson

Macy’s rewards its loyal customers and frequent shoppers with increasing tiers of rewards that can make the Macy’s credit card worthwhile, particularly if you already shop there often. Like any credit card, the Macy’s credit card comes with positive and negative features. On the bright side, Macy’s cardholders enjoy a robust rewards program, with several different types of rewards.

Before you apply, consider the types of cards available as well as your spending habits and your ability to pay the balance quickly. Most retail credit cards tend to come with a high Annual Percentage Rate (APR) for Purchases, so you don’t want to be carrying a balance on your purchases where interest charges accrue from month to month. In addition, if the retail card offers rewards, interest charges can cancel out the rewards you earn.

Types of Macy’s credit cards

Macy’s offers a basic store credit card, Macy’s Credit Card, and a Macy’s American Express® Card (American Express is a CreditSesame.com advertiser), which you can use anywhere that accepts American Express. Card Members of Macy’s American Express® Card receive perks such as travel benefits.

Macy’s credit card & Macy’s American Express® Card snapshot

FeesMacy's Credit Card (Store Card)Macy's American Express® Card
Cash advance feesN/AEither $5 or 4% of the amount of each cash advance, whichever is greater
Annual feeAnnual Fee information was not included on the available online Card Agreement No Annual Fee
Foreign transaction feesN/A3% of each purchase transaction in U.S. dollars. (1% of the U.S. dollar amount is paid to American Express as a foreign currency conversion fee.)
Other InformationTerms applyTerms apply

Minimum credit score for a Macy’s credit card

Macy’s doesn’t specify a minimum credit score to qualify for either of its credit cards. In general, if you have good credit, your chances of approval may be favorable, for the Macy’s Credit Card (the store card) but not guaranteed. If you aren’t sure where your credit score falls, now is the time to request a free copy of your credit report card from Credit Sesame. Keep in mind that card issuers look at a variety of factors when making a determination if you are eligible for one of their cards including reviewing your credit score.

Understand your credit report

Your credit report provides lenders with a snapshot of your credit history. Consumers have a credit report with each of the three credit bureaus: TransUnion, Equifax, and Experian. Each bureau uses the information in its file to calculate your credit score.

The companies base this three-digit score on five major factors that are each weighted differently, for a general guideline, including payment history (35%), the amount of money you owe (30%), the length of credit history (15%), the types of credit held (10%), and any new credit accounts (10%).

FICO®, one of the more commonly used scoring models from lenders, calculates your score using the following percentages. Payment history is weighted the most heavily, followed by credit utilization, which is the amount of credit you use, in relation to how much overall credit you have.

1formulaficoscore

What is a good credit score?

Most lenders have their own definition of what makes a “good” credit score. The following list provides a general guideline of where most credit scores fall:

  • Excellent: 750+
  • Good: 700-749
  • Fair: 650-699
  • Poor: 600-649
  • Bad: below 600

Higher scores is a pretty good indication to lenders that you’re financially responsible and creditworthy, while lower scores could indicate a greater risk and increase the odds that your application could be denied. Make sure all you handle all your loans and credit accounts responsibly for example make sure your payments are made and posted on time and carry low balances in relation to your credit limit on your credit cards. These two factors make up more than half of your credit score, and managing them closely can help to make a favorable impact on your score.

Macy’s credit card rewards

macys2

The rewards program comes in three tiers for cardholders based on spending habits: Silver, Gold and Platinum.

Here’s some examples of what type of perks and rewards you can earn, with each tier:

  • Silver cardholders spend between $1 and $499 per year, 25% off any day you choose with Macy’s Star Passes, and a birthday surprise
  • Gold cardholders spend $500 to $1,199 per year, and 25% off any day you choose with Macy’s Star Passes, a birthday surprise, and plus free shipping
  • Platinum cardholders spend $1,200 or more every year, which entitles them to 25% off any day you choose with Macy’s Star Passes, a birthday surprise, free shipping and 5% back in rewards no merchandise exclusions
  • Terms and exclusions apply

 

Macy’s rewards vs. Bloomingdale’s rewards

Bloomingdales2

Bloomingdale’s rewards its high spenders with additional points, much like Macy’s. For example, cardholders who spend more than $3,500 per year in net purchases at Bloomingdale’s stores with their Bloomingdale’s Credit Card can get extra perks for being a Top of the List Cardholder which includes perks such as unlimited complimentary gift wrapping and free local delivery up to $28, for qualifying in-store purchases. Top of the List Cardholders earn 4 points for every dollar spent at Bloomingdales and double points – that’s 8 points – for every dollar spent at Bloomingdale’s on shoes, cosmetics, and fragrances. For those who don’t spend $3,500 annually at Bloomingdale’s, the Bloomingdale’s American Express® credit card still offers rewards: 3 points for every dollar spent at Bloomingdale’s or 6 points for every dollar spent at Bloomingdale’s on shoes, cosmetics, and fragrances. Check out Bloomingdale’s site for additional information and exclusions that apply.

Bloomingdale’s American Express® cardholders are eligible to earn points for every dollar they spend outside of the store by using their card anywhere American Express® is accepted. All Bloomingdale’s credit cardholders get free shipping every day online . Exclusions may apply.

Strive to pay the balance off each month or as quickly as possible to get the most benefit of the rewards you earn, as interest charges can cancel out the rewards you earn. Or you can look at it another way, the rewards you earn can cancel out interest charges.

Terms, conditions, restrictions and limitations apply. See the credit card issuer’s website for current information and more details about the offers.


Independent Review Disclosure: All the information about the Macy’s Credit Card, Macy’s American Express® Card, Bloomingdale’s Credit Card and Bloomingdale’s American Express® has been collected independently by CreditSesame.com and has not been reviewed or provided by the issuers of these cards. The Macy’s Credit Card, Macy’s American Express® Card, Bloomingdale’s Credit Card and Bloomingdale’s American Express® cards are not available through CreditSesame.com.

Advertiser Disclosure: The credit card and loan offers that appear on this site are from companies from which this site receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not show all credit card or loan offers available in the marketplace. Credit Sesame is an independent comparison service provider. Reasonable efforts have been made to maintain accurate information throughout our website, mobile apps, and communication methods; however, all information is presented without warranty or guarantee. All images and trademarks are the property of their respective owners.

Editorial Content Disclosure: The editorial content on this page (including, but not limited to, Pros and Cons) is not provided by any credit card issuer. Any opinions, analysis, reviews, or recommendations expressed here are author’s alone, not those of any credit card issuer, and have not been reviewed, approved or otherwise endorsed by any credit card issuer.

Provider’s Terms: *See the online provider’s application for details about terms and conditions. Reasonable efforts have been made to maintain accurate information, however, all information is presented without warranty or guarantee. When you click on the “Apply Now” button, you can review the terms and conditions on the provider’s website. Offers are subject to change and the terms displayed may not be available to all consumers.

The information, including card rates and fees, presented in this article is believed to be accurate as of the date of the article. Please refer to issuer website and application for the most current information. Verify all terms and conditions of any offer prior to applying.

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

Reviews: User reviews and responses are not provided, reviewed, approved or otherwise endorsed by the banks, issuers and credit card advertisers. It is not the banks, issuers, and credit card advertiser’s responsibility to ensure all posts are answered. The Credit Sesame website star ratings are an average based on contributions from independent users not affiliated with Credit Sesame. Banks, issuers and credit card advertisers are not responsible for star ratings, nor do they endorse or guarantee any posted comments or reviews.

Disclaimer: The article and information provided here is for informational purposes only and is not intended as a substitute for professional advice.

You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved.
Published July 12, 2016
Related Links

Leave Your Reply

Submitting comment...