macys or nordstrom credit card?

missgiannina

missgiannina

O.G.
Jun 8, 2009
6,453
1
#1
ive had my macys credit card since my 18th birthday. i am now almost 21 so thas like 3 years....i had a 7000 dollar credit limit with macys but they cut it to 4000...
i noticed in the last year that the quality and look of macys has gone done and its not my style the only reason i am keeping my macys card is for mac make up and louis vuitton and they have a good home selection and because they always send me discounts the only macys that i find alot of nice things is herald square ny...i recently started going into nordstroms and i like what i see they have higher end shoes and a bigger variety of makeup and online the clothes looks really good ....

i dont know if i should close my macys account and open a nordstrom card...is it worth it ? do they send you discounts? should i just close my macys and keep my 6 other "real" credit cards? or just keep macys?
 
#2
Just keep it open. :smile: If you don't plan on using it too much, then that's all the better because you won't have to pay addtl interest charges - just pay your bill off in full every statem't period.

It's better for your debt-to-credit ratio anyway. If you have, for example, $1000 in cc debt (from all your credit cards), and your total credit limit from all your credit cards is $30,000 (6 credit cards x $5000 limit on each), you'd be better off in the credit bureaus' eyes if you kept your macys card open (with an addtl $4000 limit) because your debt-to-credit ratio would be $1000 : $34,000 versus $1000 : $30,000.

Keeping your macys card open also shows you can be a RESPONSIBLE credit holder with some history (as you mentioned, 3 years now). ;)
 
#3
I think that you should keep your macys card. Just charge a couple dollars on it every month or so to keep the account in good standing.

It looks good for your credit score if you have a good debt-to-credit ratio.
 
#4
Never, never, never close credit cards. Keeping them open, even unused, helps your FICO score. ( If you don't believe me, ask Suze Orman! :smile: ) Just cut them up when they come so you are not tempted to use them. Make sure you pull your credit report yearly- print it out- and it will show all the cards you have open and in good standing (or not) I have a card that I opened when I was 18 just to get the free t-shirt- that was now 12 years ago- never once used the card- but it's still open. I am psycho about my credit score.

But on the subject of Macys vs Nordstrom....if you plan on using one- I like Nordstrom because they actually give you Rewards Bucks that you use like cash. Macy's just gives you crappy coupons with TONS of exclusions. The APR on Nordstrom is also not horrible for being a retail dept store card.
 
#7
it depends whether its "just" a macy's store card or a visa/mastercard. if its a macy's only card, it will have no effect on ur credit rating but if its a visa/mastercard, it will reduce ur rating. either way, i would recommend keeping it and opening a nordstrom card as well.
 
#9
I have a Nordstrom card and I get a coupon with every credit card statement. I don't use it very often though so maybe that's why I don't get many. They've been pretty good with customer service though, so I'd suggest a Nordies card!
 
#11
Maybe it depends on what kind of macys credit card u have cause macys send me rewards certificates(same as cash) which is just like the nordstrom notes. U can use them on everything including all perfume and cosmetics..coach and everything else sold at macys..also macys send me coupons and yes they exclude lots, but sometimes the 20% coupons is valid on everything(except cosmetics) including designer bags/clothing. Like 1.5 wk ago I used my 20% on designer goods....besides nordstrom never have friends and family sale, and no other type of coupons..the only reward is the notes. Macys rewards dollars can also be combined with the regular macys coupons...Keep the macys card don't cancel, and only get the nordstrom if u know ur gonna be shopping there plenty. Cause opening up credit cards often also affects your credit score.
 
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#14
keep macys open they send rewards if you have an elite card aka THE black card also tons of coupons and tons of sales i have gotten 100$ in rewards recently i bought my vernis alma MM with it and paid it off just to get the rewards lol
 
#15
I think the whole thing about "Never close a credit card, it's bad for your credit score" is a way of keeping the American consumer tied to lines of credit, which keeps the banks afloat. I personally don't think it's anything more than that.
 
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