The best Macy's Credit Card benefits are $0 fraud liability and monthly reporting to the credit bureaus. These perks are certainly good to have, though it’s important to note that they are also relatively common benefits for credit cards.
Macy's Credit Card Benefits
$0 fraud liability
Monthly reporting to the credit bureaus
Rewards of 1 - 5 points per $1 on purchases
While these benefits aren’t bad, the Macy's Credit Card simply doesn’t have as many benefits as a lot of the other credit cards on the market. To learn more about the Macy's Credit Card, check out WalletHub’s full review.
The Macy's Credit Card categories for bonus rewards are Macy's purchases, dining and food delivery, gas stations, and supermarkets. Purchases that fall into the Macy's Credit Card bonus categories get cardholders extra rewards compared to the card’s base earning rate.
Whether a purchase falls into a card’s bonus categories depends on “Merchant Category Codes,” which are assigned by the major credit card networks to merchants based on what kind of business they conduct. So if a merchant has the MCC for “supermarkets,” for example, purchases made at that merchant will earn bonus rewards on cards that include “supermarkets” as a bonus category.… read full answer
When choosing a rewards credit card, it’s a good idea to pick a card that offers the opportunity to earn bonus rewards in your most frequent purchase categories. So if you spend a lot in the categories offered on the Macy's Credit Card, it may be a good card for you.
The starting credit limit for Macy's Credit Card can be anywhere between $300 to $1,900, according to online cardholder reports. But it will depend entirely on the specifics of your credit and your overall financial situation. So, the better your credit is, the higher you can expect your spending limit to be.
If you are unhappy with your credit limit, the issuer periodically reviews accounts for automatic credit limit increases after several months of on-time payments. If you'd rather not rely on an automatic increase, you can request one yourself.
The Macy's Credit Card credit score requirement is 700 or better. That means people with good credit or better have a shot at getting approved for the Macy's Credit Card.
You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the Macy's Credit Card, too. Some other key criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment status and housing status.… read full answer
If you excel in other areas, you might be able to get approved with a slightly lower credit score in some cases. But it’s best to wait to apply until you meet the Macy's Credit Card credit score requirement. You can check your credit score for free on WalletHub.
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