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Macy’s credit card rewards, benefits, apr, and fees

Macy’s credit card rewards, benefits, apr, and fees
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Macy’s credit card comes with lots of perks and drawbacks. If you’re considering filling out Macy’s credit card application, take a moment to go through this review in order to acquaint yourself with the pros and cons of the card. Make your evaluation and find out if this card would suit your need before going ahead to apply.

Macy’s credit card

Using coupon strategy, Macy’s has been able to entice a lot of loyal customers, as the deals are too good to ignore. A lot of customers walk into Macy’s and walk out with their bags full of home goods, outfits, everyday clothes, and smile on their faces. They get all these merchandize at less cost due to the discount racks the establishment has employed. With this coupon strategy, Macy has won the heart of many customers, as they keep coming back to get more deals.

Macy, in a bid to entice more customers and retain the already loyal ones, has taken another bold step by introducing extra in-store promotions for Macy’s Star Rewards Cardholders. Below is everything you need to know about this card.

The Macy’s credit card is of two types:

  • The Macy’s store credit card – only used within Macy stores to make purchases of various kind of merchandise
  • The Macy’s America Express credit card – can be used in Macy’s and anywhere AMEX is accepted. This version of Macy credit card has more rewards and benefits if compared to the former.
Things you should know about both cards

Both cards have no annual fee, and they offer rewards based on customers’ level. Cardholders can belong to any of these levels: Preferred, Elite, or Premier Elite. To obtain the Elite status, a customer must meet a certain annual spending on Macy’s purchases.

If you’re a frequent shopper at Macy’s, you’re likely to get the best out of both cards, because you’ll have privilege to some good benefits. But never forget, every good thing also has a bad side. Hence, these cards also have their drawbacks.

Below are the rewards of both cards based on customers’ level.

Macy’s credit card rewards

Customers with Elite & Elite Premier status are bound to get more and more perks. In fact, this category of customers get the most rewards and benefits. And as earlier mentioned, in order for a customer to obtain this status, he/she must be willing to spend big (annually). In other words, this status can only be obtained by heavy spenders.

Tiers of cardholders and the rewards they get

Below are different types of cardholders and the rewards each get.

 Preferred Cardholders

This category of cardholders spend $1 to $499 annually. And they get the following rewards:

  • 10% rewards on eligible purchases.
  • Plenti members get 1 point for every $1 they spend
  • Cardholders get 3 Macy’s Star Pass mailing (annually).
  • Surprise savings offers at the register
Elite Cardholders

This category of cardholders are customers that spend $500 to $1,199 annually. And they get the following rewards:

  • Happy birthday offer
  • 10% rewards on eligible purchases
  • Just like the preferred cardholders, the Elite too get surprise savings offers at the register
  • Plenti members get 1 point for every dollar spent
  • Free 6 Macy’s Pass mailings annually
Premier Elite Cardholders

This type of cardholders are considered the biggest spenders. They spend up to $2000 annually. And they get the following rewards:

  • Priority 800 customer service line
  • Cardholders get free shipping offers, 4 times in a year
  • Free 12 Macy’s pass mailing annually
  • They get 1 point for every dollar spent on Macy’s merchandize
  • Get surprise savings offer at the register

Happy birthday offer for cardholders

  • 10% rewards on eligible purchases

Extra benefits for Macy’s American Express Cardholders

Cardholders of the AMEX version of the Macy’s credit card get the following extra benefits:

Note – these benefits apply to all tiers of cardholders.

  • Cardholders get exclusive deals on flights, cruises, car rentals, hotels, plus vacation packages.
  • 2 points for every $1 they spend at supermarkets and gas station.
  • 3 points for every dollar spent at restaurants outside of Macy’s
  • 1 point per $1 on qualify Macy’s purchases & other purchases made with Macy’s AMEX credit card.
  • Exclusive discounts on dinning or shopping with Macy’s partner merchants.
MORE…

Macy’s and AMEX are in partnership with Plenti, hence, your spending with Macy’s America Express credit card will earn you Plenti points. You get 1000 Plenti points for every $10 you spend. And another cool thing is that you have a good number of options in redeeming them. For example, the points can be used at partner merchants, such as Macy’s, Expedia, Exxon Mobile, Rite Aid, and Chili’s

Note: If you’re interested, you need to sign up for Plenti separately. Sign up is free. After signing up, link your accounts in order to get the points. Use this link to sign up – www.macys.com/plenti

More benefits on both cards

  • You will get a 20% discount on Macy’s purchases made over the first two days when you open a Macy’s credit card. This can save you up to $100.
Macy’s credit card Discounts

As I have already explained above, you’ll get Macy’s Star Passes annually, depending on your credit card level – Premium Elite gets 12, Elite gets 6, and Preferred gets 3. You’re bound to get surprise discounts at the register (this is available for every level of customer). You can get a dollar amount discount or a certain percentage of discount off your purchases.

Macy’s registry Star rewards

Cardholders getting married can enroll in the Registry Star Rewards programs. They will receive 10% rewards for all eligible purchases made until their wedding day. And 5% rewards for the value of Macy’s gifts they receive from their bridal shower and wedding registry. This reward will be given to them 45 days after their wedding, and it will be a Macy’s Gift Card.

Thanks for sharing rewards

To participate in this reward, cardholders are to enroll with the sum of $25 annually. This reward gets you 10% rewards on eligible purchases on Macy’s or macys.com. Charities, such as Children’s Cancer Research Fund benefit a portion of the membership fee.

To enroll into this program, go to www.macys.com/thanks, or call 1-888-933-6229.

Minimal credit card requirements

Unlike regular credit cards which require high credit qualification (credit score), Macy’s store card requires just an average credit score to qualify for approval. You can get approval with a credit score of 650 or even less. However, the American Express version of this card requires a higher credit score for approval.

General Summary on Macy’s Store Credit Card

APR26.49%
Annual feeNone
Maximum late fee$38
Foreign transaction feeN/A
Smart chipNo
Cash Advance FeeN/A
Online ResponseNo
Cash Advance RateN/A
Grace Period25 days

 

Disadvantages of Macy’s credit card

Below are the drawbacks of Macy’s credit card.

High interest rates

As expected, the variable APR of Macy’s credit card is 26.49%. This is on the high side. Hence, this is something to consider before applying. Would you like to carry a balance if you can help it?

The rewards are limited

If you take a closer look at the rewards of these cards, you’d notice that the regular Macy’s credit card doesn’t get any special reward, you only get coupons and maybe savings at the register.

The American Express version of this card is bound to earn you a lot of Plenti points, which is cool, but not as cool as getting “cash back.” Also, you’ll need to pay to join the “Thanks for Sharing” program, which gives members 10% rewards on Macy’s purchases (one of the biggest rewards).

People who Macy’s credit card is best for

If you’re a frequent shopper at Macy’s (if you shop at least 4 times a year) with a fair or an average credit score, you should consider having one of these cards. The regular Macy’s credit card may not have a lot of rewards, but you’re bound to receive a lot of discounts which will even outweigh what you’d earn under the rewards or “cash back” system, if compared to other credit cards.

The “Thanks for Sharing” program gives members the privilege to receive 10% rewards on eligible purchases made at Macy’s. If you ask me, this is a very high reward rate. The drawback here is that you you’ll need to pay the annual membership fee of $25, and you must spend up to $250 on eligible purchases. Another drawback is that if you don’t pay off your balance in full every month, you’re likely to incur high interest rate which will quickly erase all of your discounts.

My verdict

As I have already emphasized above, if you’re a frequent shopper or a big fan of Macy’s, you’re likely to get the best out of the regular store card. You’ll have privilege to countless discounts throughout every year. Before considering this card, ensure that you can pay off you balances in full every month.

The American Express version of this card gives you flexibility. You can use the card within and outside of Macy’s. But is this card worth it? It only earns you Plenti points (that is if you’re a Plenti member), whereas, there are other cards out there with a better reward program. If you have a better reason to apply for this card, go ahead. But if you’re applying because of the rewards, you might want to check out other alternatives first.

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