The Macy’s American Express Credit Card is a good credit card for people with good credit or better who regularly shop at Macy’s. The Macy’s Amex Card has a $0 annual fee, gives decent rewards, and makes you eligible for special discounts throughout the year.
Macy's Credit Card Review Highlights
Nice initial bonus
The Macy’s American Express Card offers at least
20% discount on Macy’s purchases made the day of account opening and the following day, up to $100 in savings. In other words, you should aim to spend $500 or less the first couple days, which shouldn’t be a problem for most people.
Underwhelming ongoing rewards
Exactly how rewarding the Macy’s Amex will be depends on how much you spend. If you spend $500 to $1,199 at Macy’s from December 1 to November 30 in a given year, you will earn store credit equaling 3% cash back on all Macy’s purchases for the next 12 months, beginning in February. And if you spend $1,200+ within that same timeframe, you’ll earn 5% back at Macy’s for the next year. You also earn 3% back at restaurants (including food delivery), 2% back at gas stations and supermarkets. All other purchases yield 1% back. Unfortunately, the way things are structured means you won’t earn much in the way of purchase-based rewards the first year your account is open. And since the best store-affiliated credit cards offer 5% back, while the average cash rewards card gives you
1.15% back on all purchases, it’s clear that the everyday rewards part of the equation is a bit underwhelming.
Good or excellent credit required
You'll need good or excellent credit to get approved. However, the
Macy's Store Credit Card, only requires fair credit for approval. You can compare the Macy's Amex Credit Card and the Macy's Store Card
here. That's important because there is only one application. You won't be able to apply for either Macy's credit card specifically. Macy's and Department Stores National Bank (the card's issuer) decide which card an applicant receives. If approved for both, you can choose which one you wish to keep. You can also
check your credit score for free on Wallethub to see which offer you're most likely to get approved for.
Regular discounts save the day
Fortunately, the Macy’s Amex sweetens its offer with other perks. As long as you spend at least $1 at Macy’s, you’ll receive three so-called Star Passes per year, each of which is good for a certain percentage discount. Spending $500 gets you six of these Star Passes, while spending $1,200+ scores you 12 of them. Using these discounts wisely is therefore the key to saving money on an ongoing basis with the Macy’s Amex Card.
No annual fee
Most retailer-affiliated cards don’t charge an annual fee. But the Macy’s Amex is still
$22.29 per year cheaper than the average credit card thanks to this particular feature.
Very high APR
The Macy’s American Express Card charges interest that's well above the averages among credit cards for people with good credit (
24.12%) and excellent credit (
18.04%). And since you need good or excellent credit to get approved for the Macy’s Amex, it’s clear you should not use this particular card for carrying a balance from month to month.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.