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
|Fees||Macy's Credit Card (Store Card)||Macy's American Express® Card|
|Cash advance fees||N/A||Either $5 or 4% of the amount of each cash advance, whichever is greater|
|Annual fee||Annual Fee information was not included on the available online Card Agreement||No Annual Fee|
|Foreign transaction fees||N/A||3% 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 Information||Terms apply||Terms 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.
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
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
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.
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