Is Macy's card post-BK friendly?

[bluemartini]

My Chapter 7 BK was discharged just over a year ago and it included my old Macy's card which had an outstanding balance of maybe $300 or so. Since then I have been re-building my credit with a Cap One card, Household Bank Master Card, Old Navy and LOFT cards, all with low limits. I'm managing them responsibly, making small purchases and paying them off or keeping the balances low.

But I really miss my Macy's card. I shop there a great deal and would love to get the Macy's rewards and additional discounts for card holders.

So I just took a shot in the dark and applied online for the Macy's Red Card with a credit limit of $500 or less. I saw in the fine print that the Red Card (different from the Macy's Visa) is handled by DSNB (Department Stores National Bank).

Does anyone know if DSNB is post BK friendly? Am I delusional for hoping that Macy's will open the door to me again after I basically screwed them in the BK?

For what it's worth, I also included a Cap One card with an outstanding balance of $2,000 in my BK, so I was shocked when they offered me a second chance.

Thanks for any input.

[Pjmax]

Blue, I miss my Macy's cc too. Don't know how BK friendly they are, but my last experience with them was not good. Before I was laid-off (the good ole' days, sigh!) my credit was good, fico almost to 700, and Macy's and everything else was paid on time, balances were reasonable. They lowered my credit limit twice in one year (I read a lot of card companies were doing that at that time), no notice, reason or anything. It was embarrasing the first time they did it, when I went to use the card and I was in a panic when told my purchase was denied. The clerk handed me the phone and a very rude guy told me what my limit was. First I heard about it. Another customer standing next to me said they just did it to her also.

So, as much as I miss the extra CC discount there, I hardly ever go there anymore, bad taste in the mouth thing. I don't think the sales are as great as they used to be anyway. every now and then the rock bottom clearance racks would be, 50-70% off the lowest ticket price. The lowest I've seen in awhile is 60% off the retail price.

[MSbklawyer]

Proverbs 26:11. http://bible.cc/proverbs/26-11.htm Read it. Think about it.

That's not meant as a personal attack, but you need to think long and hard about incurring new debt; especially 'consumer' debt. Stop before the beginning.

You don't need a Macy's Card to shop at Macy's. Money is still good there

[Pjmax]

Proverbs 26:11. http://bible.cc/proverbs/26-11.htm Read it. Think about it.

That's not meant as a personal attack, but you need to think long and hard about incurring new debt; especially 'consumer' debt. Stop before the beginning.

You don't need a Macy's Card to shop at Macy's. Money is still good there

MS, I certainly agree with you, but just to clarify a bit about why some of us 'miss' our old Macy's card; many of Macy's sales offer an additional 10-15% off when using the card. Assuming one pays off the card every month and doesn't accrue interest, you will pay more by using cash. Another reason why I hardly ever shop there anymore, that just seems wrong to me.

[soccerguy]

Macys is not bk friendly if u included them

[MSbklawyer]

For the same reason, credit cards give people 0% interest on credit card balance transfers. The only thing they would pay interest on is new purchases. If they just transferred the balance and made the minimum payment every month, it would be at 0% interest. Only a chump would turn that deal down, right?

But they know. They KNOW that you WON'T pay it off every month. And if you're honest with yourself YOU know you won't pay it off every month. Your kids will need a ton of school clothes or you'll fall in love with a pair of shoes or a coat or some such and with credit you'll buy it, whereas if you had to pay cash for it you wouldn't. Then some crisis will come up -- your car will break down or you'll have to go to the dentist, and the money that was supposed to be used for to pay of the Macy's card will go to pay that expense. They can afford to give you that 10% off because they've got you on the hook at 24% on the card.

Just say "no".

[BankruptinNJ]

MS, I certainly agree with you, but just to clarify a bit about why some of us 'miss' our old Macy's card; many of Macy's sales offer an additional 10-15% off when using the card. Assuming one pays off the card every month and doesn't accrue interest, you will pay more by using cash. Another reason why I hardly ever shop there anymore, that just seems wrong to me.

Psst! I'm going to tell you a secret!

Go on the Macy's site. They usually have coupons to use from Wednesday-Sunday (sometimes it starts on Thursday or Friday, though)

On the left side of the site, there is usually either a badge for Instore Savings Pass, Print Savings Pass, or Catalog, click on that, type in your zip code, and you will find coupons (they don't have them every week, though). You might have to look around before you find it. You can print out the pass and use it! I do it all the time.

This also works for Lord & Taylor (usually on the right side of the website).

And you don't need to use the store cards for these coupons. You can use cash. There are always the usual exclusions, though.

Anyway, it's great. I always look at the clearance racks first. I've gotten some very nice tops for about $5.00 at Macy's lately. Much better quality (I'm petite so Walmart's clothes wouldn't fit on me, anyway.) I've known people who have found children's clothing from Ralph Lauren on the Macy's clearance racks for $4.99!

P.S. Someone here said that their limit was changed on their Macy's card. If you don't use the card for awhile or pay late once or twice they will lower the limit automatically. I was standing in line once at Macy's and this incensed customer was screaming at the salesperson: "I don't understand why they lowered my limit! I was late on my payments only twice!"

ETA: Oh, by the way, it's not a Macy Visa anymore. It's a Macy Amex!!!

[bluemartini]

Whoa! Thank you for that tip, BankruptinNJ! I will look for that on the website!


Thanks PJMaxx. And to SoccerGuy, thanks for your input. I'm not holding my breath that I'll get approved. LOL. It's been roughly 24 hours since I applied online and I still haven't received even a lousy email confirmation thanking me for applying and telling me to sit tight. I find that odd. I'm sure in a week or two there will be a polite "thanks, but no thanks" in my mailbox.

Also, thanks for the Bible link MSBKLawyer, but I'm not religious. Since you apparently didn't read my original post all the way through, let me help you. Scroll all the way to the top of this thread and you'll see that on the third/fourth lines down, I wrote that I'm managing the cards responsibly, making small purchases and paying them off or keeping the balances low.