How the Macy's Credit Card Works: Benefits and Rewards (M)

Macy’s Inc. (NYSE: M) is one of the most recognizable retail chains in the United States operating Macy's and Bloomingdale's department stores as well as Macy’s Backstage, Bloomingdale’s, Bloomingdale’s Outlet and Bluemercury franchises. In total, the company has 852 stores in operation, according to its website. Macy's, the largest retail brand, accounts for approximately 650 shops.

The company's website reported fiscal 2017 sales of $24.837 billion and with130,000 employees, the most recent numbers available. Macy's has been in the news for shuttering many of its retail shops across the country, but the company continues to offer its brands and several credit card options to its customers.

Macy’s offer its customers two options with credit cards, the Macy’s credit card and the Macy’s American Express card. The Macy’s credit card can only be used at any Macy’s, Macy’s Backstage, or online. However, it cannot be used at any Bloomingdale’s branded stores. The Macy’s American Express card can be used anywhere that American Express is accepted. Customers can apply for the Macy’s credit card online or in-person at a store, and should expect to give the personal information usually given when applying for a credit card. Applicants wanting the Macy’s American Express card can only apply in-store.

Macy’s has three different levels (silver, gold, and platinum) of benefits for its cardholders, depending on the amount of money spent each year. This is a new reward tiering as of 2018 when Macy's revamped its rewards program. The tiers are offered to customers based on how much they spend on an annual basis using their Macy's cards at Macy's stores.

• Silver: Customers who spend up to $499 receive 25% off of a purchase on any day of their choice using Star Pass coupons offered to card members.
• Gold: This tier is for customers who spend between $500 to $1,199. The perks? The gold tiered members receive the 25% off any day of their choice using Star Pass coupons, plus free shipping on any purchase (no minimum requirement).
• Platinum: This is the highest tier possible and is only available for customers who spend ‘$1,200 or more each year at Macy's stores. These customers receive all the perks offered in the silver and gold tiers, they also earn 5% back in rewards on every purchase. After they spent $200, these top-tier customers earn $10 in Star Money on any store product. Unlike Silver and Gold card carriers, Platinum members Macy's cards are platinum colored.

Macy’s American Express card's also follow the silver, gold, and platinum tiers and offer even more benefits. Macy's American Express card also follows the 3-2-1 rule when it comes to using the card outside of Macy's. The card offers its members 3% back in rewards when you spend at a restaurant, 2% back in rewards for shopping at grocery stores and gas stations, and 1% rewards for any other purchases.

Upon a credit inquiry and approval, applicants of both credit cards are also entitled to save 20% on purchases for the same day and the next, up to a total of $100.
Both the Macy’s Credit Card and Macy’s American Express card have an APR of 27.49%, and late or return payment penalty fees of up to $39, as of January 2019.

The best applicants for the credit card are frequent shoppers of Macy’s stores. Since the minimum level to receive the rewards is $1, any regular shopper would benefit from the card. As spending increases, so does the cardholder’s benefit. Shoppers looking to use the credit card at other places should consider using the Macy’s American Express card instead.