Macy’s Credit Card Review Pros and Cons

The Macy’s Credit Card Review with Pros and Cons

Macy’s is a retailer with stores all over the United States. They offer a retail card and a Macy’s credit card. If you shop at this store frequently, you can earn multiple rewards. The Macy’s American Express card works on a tiered structure. This means the more that you shop with them, the more rewards you can earn. We’ll talk about the Macy’s Amex and give your benefits and drawbacks. We’ll also talk of the reward tier program and the specifications you’ll need. Finally, we’ll touch on the retail card and tell you the difference between it and the Macy’s credit card.

The Macy's credit card offers credit card rewards on Macy's purchases.

Macy’s Credit Card Pros

Widely Accepted

The Macy’s credit card is accepted anywhere American Express is accepted. So, you can use it for everyday purchases, and they don’t have to be from Macy’s. This makes it a convenient option for someone who wants a rewards card for Macy’s, but still shops elsewhere.

Thanks for Sharing Rewards

This reward program will allow Macy’s American Express cardholders to get a discount on certain purchases. The program does cost $25 per year, but you save 10 percent on certain purchases. You’ll have to check the Macy’s website to find out which purchases are eligible.

Star Passes

Macy’s offers people with the Macy’s credit card Star Passes each year. You’ll get three, six, or twelve depending on how much you spend at Macy’s each year. These passes are special discounts, and the amount is random. It’ll either be a dollar or percentage off your purchases.

Rewards Tiers

Macy’s places their cardholders in reward tiers depending on how much they spend. So, the more you spend at Macy’s or the Macy’s site each year, the bigger your rewards will be. There are currently three tiers, and each can save you money if you shop regularly at Macy’s.

  • Tier One: Preferred Cardholders. If you spend between $1.00 and $499 per year at the retailer, you’ll be a Preferred cardholder. You’ll get three Macy’s Star Passes each year and surprise savings when you check out. You may also earn one point per dollar spent on certain Macy’s purchases. Finally, you can choose to enroll in the Thanks for Sharing rewards program for a 10 percent discount.
  • Tier Two: Elite Cardholders. The second tier is Elite, and you have to spend between $500 and $1,199 annually. This tier will give you six Macy’s Star Passes a year. You’ll also get surprise savings at the register and a birthday offer. Finally, you earn one point for every dollar you spend, and you can enroll in the Thanks for Sharing program.
  • Tier Three: Platinum Elite Cardholders. The final tier is Platinum Elite, and you must spend a minimum of $2,000 annually. You’ll get 12 Macy’s Star Passes each year along with surprise savings at the register. You’ll also get a birthday offer, free shipping four times a year, and the priority 800 customer service number. Finally, you can enroll in the Thanks for Sharing program, and you earn one point for every dollar spent at Macy’s.

Lower Credit Requirements

The Macy’s credit card has slightly lower credit score requirements. It is a retail card, and most members have a credit score of 650 and up. However, several cardholders have reported being eligible for the card at a lower fair credit score. This will play a role in your interest rate. So, it’s a good idea to build your fair credit score to a good credit score.

Extra Benefits

The Macy’s credit card is an AMEX card, and they’ve partnered up to give their cardholders more benefits. If you use your card outside of Macy’s at a restaurant, you’ll get three points for every dollar you spend. Also, you’ll get two points for every dollar you spend at gas stations as well. For certain Macy’s purchases, you’ll get one point per dollar you spend. Finally, you’ll get discounts and deals when you shop at any of Macy’s partner locations.

Macy’s Credit Card Cons

High APR

The Macy’s card is a rewards card, and the APR reflects this. The APR on the Macy’s cards are right around 24 – 26 percent. So, if you carry a balance from month to month, this can add up quickly. You may get a slightly reduced rate for better credit. However, it’ll still be higher because of the rewards.

Limited Rewards

Once you remember to link your Macy’s credit card to your Plenti account, you can start accruing points. For every 1,000 plenti points you get, you’ll get $10 in rewards. However, you can only redeem these at Macy’s in store or online, or at their partner locations. A few of the partner locations are Exxon Mobile, Rite Aid, Chili’s, and Expedia.

Fees

If you miss a payment, you could get a late payment fee up to $38. This will be added to your balance each time you miss a payment. Depending on the card, may also be a foreign transaction fee, and a cash advance fee. Each of these smaller costs has the potential to add up, especially if you travel.

Comparing the Two Macy’s Card Options

There are two cards you can sign up for at Macy’s. Each one offers slightly different points. It all depends on how you want to use it. You should also consider how often you plan to shop at Macy’s.

  • Retail Card. The Macy’s retail card is very basic. You can only use it at Macy’s or the Macy’s site for purchases. There is no foreign transaction fee or cash advance fee. It has the three tiers and the same rewards.
  • Macy’s Credit Card. You can use the credit card anywhere American Express is accepted. You’ll get Plenti points for using it outside of Macy’s as well. There is a foreign transaction fee and a cash advance fee. You’ll also have access to the same rewards tiers.

Final Thoughts on the Macy’s Credit Card

If your credit score is at least 650 and you frequent Macy’s, this may be a good card choice. Technically, you only have to shop at Macy’s four times a year for it to be worth it. However, the more you shop, the higher tier you’ll end up in. The benefits and the various ways to save will be helpful. The Macy’s credit card is a solid retail card with decent rewards.

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CreditFast has reviewed the best credit cards on the market. Some of the credit card offers are from our advertising partners. CreditFast has objectively reviewed the features and benefits of each credit card. We have chosen credit card offers based on our editor’s recommendations.

Monica Kowollik

Director at CreditFast.com
Monica has covered credit card and personal finance news for over 15 years. From an early age, she developed an interest in financial literacy and saving money. Monica hopes to help others to improve their personal finances one article at a time.

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