CreditCardGuru

The Macy’s credit card is used by many people who are fans of the legendary department store. However, a closer look reveals that there are many pitfalls associated with this credit card from Macy’s. Read our review to find out why…

The Macy’s legacy
Indeed, there are some attractive features on the card that make it a convenient as well as an efficient financial tool for regular shoppers of Macy’s. There is usually a signup bonus offering a small discount of 10% on your first purchase. Sounds good, right? Well after that, there are hardly any impressive discounts offered through their Star Rewards program. The other big drawback is that it confines you to their stores only. Even if you love to shop there, it’s probably not the only place you shop. There are better options out there that will give you better discounts and rebates on all your shopping, wherever it may be.


The Catch
The interest rates that they charge are extremely high, making the card very unappealing. Even if you pay off your balance in full each month, you never know what the future brings in the event you lose your job or some other financial obstacle. In the event you have to carry a balance, it’s not fair to be burdened with the high interest rates they charge.

Unfortunately, the rewards program seems to only favor the biggest spenders. For example, the Macy’s Red Star Rewards Visa doesn’t even allow customers to earn rewards certificates. To get the most benefits you need the Elite Star Rewards level, and even then, you only get 3% on purchases at their stores. The Gold and Red Star levels pay even less… 1.5% at their stores. So unless you are spending tens of thousands per year at their stores, don't expect to be getting much back in terms of a rebate.

Reportedly there have also been many instances of numerous billing related problems. Many people have complained of allegedly having to pay for purchases not made by them and incurring astronomical interest rates if they fail to do so. Whether that's true or not, what seems to be a universal problem among customers is their dissatisfaction with the credit card customer service. Some forum posters have even went so far as to say it is the worst customer service experience they have ever had in their entire lives.

Lost In The Shuffle?
The consequence of having a huge corporation such as Macy’s is that apparently the sheer size and volume of the business comes in the way of superior customer satisfaction. There are way too many complaints from users and many of their claims or queries feel like they get lost in the shuffle. It can seem as there is no one to take up the responsibility for any fault, and customers often have to wait on-hold for a long time until someone helps them with their issue. Reportedly the Macy’s credit card customer service department is usually out of bounds to many people who try to contact them. Thus the customers feel that the Macy’s card department is insensitive to their needs and requests.

Unexpected Consequences...
Allegedly there are many instances on forums of reportedly surprise activity on their accounts. It starts with wrong statements and closure of the account without any apparent reason or warning. This is a very serious trend as it affects the customer’s finances and balances as well as his or her credit score. Macy’s may be a great place to shop, but the general consensus seems to be that you should stay far away from their credit card. We agree, especially considering that there are other options out there that give you 5% cashback bonus at every department store with Discover More

Honest Disclosure: This site has financial ties to Discover.