How the Macy’s Credit Card Works: Benefits and Rewards

Macy’s Inc. (M), which operates Macy’s and Bloomingdale’s department stores as well as franchises for Macy’s Backstage, Bloomingdale’s, Bloomingdale’s Outlet, and Bluemercury, is one of the most well-known retail chains in the United States. It is also one of the largest retail chains in the world. According to the company’s most recent annual report, the corporation runs a total of 725 retail locations. Macy’s is the most well recognized department store brand and has around 510 locations. 1

The company said in its annual report for 2022 that it had 88,857 full-time and part-time employees as of January 29, 2022, and that its sales for the fiscal year were $24.46 billion. 2 Macy’s announced in February 2020 that it would close 125 stores by the end of 2021 in order to refocus its attention on digital channels, off-mall presence, and the modernization of logistics and infrastructures. This decision was made in order to position the company for long-term profitable growth. However, the company announced a change in plans in November 2021 and postponed the closure of the remaining planned stores, with the exception of the six stores that were scheduled to be closed in the fourth quarter of 2021 and which are now scheduled to close in the first quarter of 2022. Taking into account its store portfolio, the company is working to strengthen its omni-channel ecosystem in order to better serve its customers. 34

Key Takeaways

• Customers of Macy’s who either already own an American Express card or do not want to get one are prime candidates for the Macy’s credit card. Any customer who makes regular purchases would profit from having the card since the minimum threshold to claim the rewards is just $1. Customers looking for a piece of plastic that offers greater flexibility may want to consider the Macy’s American Express card.
• Customers of Macy’s who either already own an American Express card or do not want to get one are prime candidates for the Macy’s credit card. Any customer who makes regular purchases would profit from having the card since the minimum threshold to claim the rewards is just $1. Customers looking for a piece of plastic that offers greater flexibility may want to consider the Macy’s American Express card.
• Customers of Macy’s who either already own an American Express card or do not want to get one are prime candidates for the Macy’s credit card. Any customer who makes regular purchases would profit from having the card since the minimum threshold to claim the rewards is just $1. Customers looking for a piece of plastic that offers greater flexibility may want to consider the Macy’s American Express card.

Macy’s Credit Cards

The Macy’s credit card and the Macy’s American Express card are the two credit card options that consumers may choose from when making purchases at Macy’s. It is not possible to use the Macy’s credit card at Bloomingdale’s since it can only be used in Macy’s and Macy’s Backstage locations, in addition to being valid online. The Macy’s American Express card may be used at any location that acknowledges the American Express brand. Customers have the option of applying for a Macy’s credit card either in-store or online, and they should be prepared to supply the standard personal information required when applying for a credit card.567

Macy’s Card Rewards and Benefits

Macy’s overhauled its Star Rewards member loyalty program in 2017, awarding customers with several levels of benefits for their credit cards (silver, gold, and platinum) based on the amount of money they spend in a given year. 8

In the fourth quarter of 2021, Macy’s Star Rewards members accounted for around 66% of sales, which is an increase of 8% compared to the statistics from the fourth quarter of 2019 before the pandemic. 9

A discount of 20% is applied automatically to the first purchase made by each new client. Customers will be eligible to receive a $10 rewards voucher after they have accumulated 1,000 points in the Star Rewards program. The following describes each of the three levels:

• Customers of Macy’s who either already own an American Express card or do not want to get one are prime candidates for the Macy’s credit card. Any customer who makes regular purchases would profit from having the card since the minimum threshold to claim the rewards is just $1. Customers looking for a piece of plastic that offers greater flexibility may want to consider the Macy’s American Express card.
• Customers of Macy’s who either already own an American Express card or do not want to get one are prime candidates for the Macy’s credit card. Any customer who makes regular purchases would profit from having the card since the minimum threshold to claim the rewards is just $1. Customers looking for a piece of plastic that offers greater flexibility may want to consider the Macy’s American Express card.
• Customers of Macy’s who either already own an American Express card or do not want to get one are prime candidates for the Macy’s credit card. Any customer who makes regular purchases would profit from having the card since the minimum threshold to claim the rewards is just $1. Customers looking for a piece of plastic that offers greater flexibility may want to consider the Macy’s American Express card.

When a new account is created, it is always placed in the silver tier. If you spend enough to qualify for the next tier, you will be automatically promoted after seven days if you do not return the qualifying products within that time period. This only applies if you spent enough to qualify for the next tier. In the event that you get a promotion, you will maintain your new status during the rest of this year as well as the next full calendar year (unless you advance to a higher rank).7

Other Macy’s Cards and Perks

The Macy’s American Express card not only grants the user access to the silver, gold, and platinum levels when it is used in the store, but it also grants access to other benefits. Outside of Macy’s, it follows the 3-2-1 rule, which states that cardholders get 3% back in rewards when they make purchases at restaurants or for meal delivery services, 2% back in rewards when they make purchases at grocery stores and gas stations, and 1% back on all other types of purchases. 6

It’s interesting to note that in 2018, Macy’s introduced a tender-neutral option, which resulted in over three million new members joining the loyalty program by the fourth quarter of 2021. Customers may sign up for the loyalty program even if they do not have a Macy’s credit card and regardless of the payment method that they choose to use when selecting this option. 910

They are eligible for the Bronze tier of the Macy’s credit card program, which entitled them to 1% cash back, member-exclusive benefits, and a birthday surprise each year, just as higher-tiered cardmembers do. 6 To maintain your status in the Bronze category, there is no minimum required spending amount; however, in order to move up to the Silver category, you will need to first create a Macy’s account. 7

Applying for the Macy’s Credit Card

You fill out an application for both the Macy’s card and the American Express card simultaneously, and then you decide which one you want to use. Applicants for both credit cards are entitled for a discount of 20% on purchases made the same day and the next day, up to a total of $100, after their credit has been checked and they have been accepted for the cards.11

Both the Macy’s Credit Card and the Macy’s American Express Card will have a variable annual percentage rate (APR) of 28.99% as of the year 2022. There will also be fees of up to $41 for late or returned payments.

The Bottom Line

Numerous stores provide customers the option of using either their own or a co-branded card. On the other hand, Macy’s seems to be in direct competition with its own card, since it offers the same advantages via its affiliation with American Express on the one hand, and some advantages even for customers who do not have a card at all on the other.

Customers of Macy’s who either already own an American Express card or do not want to get one are prime candidates for the Macy’s credit card. Any customer who makes regular purchases would profit from having the card since the minimum threshold to claim the rewards is just $1. Customers looking for a piece of plastic that offers greater flexibility may want to consider the Macy’s American Express card.

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