Chip Lupo, Credit Card Writer
@CLoop
The biggest disadvantage of the Macy's Credit Card is that it is available to people with at least good credit, which means the average person may struggle to qualify. There are a few other disadvantages of the Macy's Credit Card to be aware of, too.
Macy's Credit Card Disadvantages
- Requires high credit scores: The Macy's Credit Card requires good credit for approval.
- High APR: The Macy's Credit Card has a relatively high APR, at 32.74% (V).
- No 0% APR on purchases: The Macy's Credit Card does not currently offer a 0% APR promotion on purchases, so it is not good for people looking to finance big purchases.
- Foreign transaction fee: You will be charged a fee of 3% when using your card abroad.
In addition, there are plenty of potential disadvantages applicable to all or most credit cards. Some examples are the hard credit pull that usually happens when you apply, interest charged on balances that are carried from month to month, and the potential to overspend.
Popular Credit Cards from Our Partners
People also ask
What is the Macy's Store Card credit score requirement?
The Macy's Store Card credit score requirement is 640 or better. That means people with fair credit or better have a shot at getting approved for the Macy's Store Card.
Note that while your credit score is very important, plenty of other things will impact your chances of being approved for the Macy's Store Card. Some other key criteria include your income, existing debt load, recent credit inquiries, number of open accounts, housing status, and employment status.
If you...
read full answer by Chip Lupo, Credit Card WriterDoes the Macy's Store Card do a hard pull?
Yes, the Macy's Store Card will do a hard pull. You will need a credit score of 640+ to get it. This means that the Macy's Store Card requires fair credit, which is on par with what most store cards require.
Keep in mind, though, that your credit score isn’t the only thing the issuer takes into account while considering your application. Various other factors like your credit history, income and debts will also determine the outcome.
Here’s...
read full answer by Maria Adams, Credit Cards ModeratorHow can I register my Macy's Credit Card?
You can register your Macy's Credit Card online, by signing in to your Macy’s account and selecting the "Add My Card" button. You’ll need your credit card information, like account number, security code and your name as it appears on the card, in order to complete the registration process.
How to Register Your Macy's Credit Card
- Log in to your online account.
- Select the "Add My Card" button under the "Macy's Credit Card" section.
- On the...
Did we answer your question?
Important Disclosures
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers. For full transparency, here is a list of our current advertisers.
Advertisers compensate WalletHub when you click on a link, or your application is approved, or your account is opened. Advertising impacts how and where offers appear on this site (including, for example, the order in which they appear and their prevalence). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Advertising enables WalletHub to provide you proprietary tools, services, and content at no charge. Advertising does not impact WalletHub's editorial content including our best picks, reviews, ratings and opinions. Those are completely independent and not provided, commissioned, or endorsed by any company, as our editors follow a strict editorial policy.