If you're looking for a one-stop shop for men's and women's fashion, home goods and cosmetics, designer handbags and jewelry, Macy's is the quintessential department store. Savvy shoppers know that saving money at Macy's requires strategy, from tracking the popular Friends & Family sale to scooping up discount coupons and codes. And power shoppers might want to consider getting a Macy's credit card.
The Macy's credit card is a no-annual-fee card issued by Citibank, NA. You can earn points every time you make a purchase at Macy's in-store or online. The points you earn can be used to create a Star Rewards certificate for your next purchase.
Shop at Macy's
Sounds like a no-brainer for Macy's loyalists, right? In short, it can certainly be in the right circumstances, but it's not the best store card. There are some benefits and perks for cardholders, but there are a few things you need to know about the card to get the most out of it.
Before you apply, learn more about the Macy's card's key benefits and potential pitfalls.
The new cardholder benefits are just so-so
Many people choose to open a store card right away, that is, when the cashier at the store says that they will get a percentage off their purchase if they apply. At Macy's, this offer is 20% off your bill, with a limit of $100. You may want to see your total bill go down, but a one-time benefit shouldn't be your biggest benefit. only Reasons for opening a credit card.
While other department stores, including JCPenney and Kohl's, offer new card applicants 35% off their first purchase, this isn't the most generous discount on the market.
It is also important to note that you only have two days to cash out this first purchase discount after opening the card, whereas other store cards offer a longer period, such as one to two weeks. So if you decide to apply for the card online, you will need to complete your shopping order within that period to receive the 20% discount.
Get 20% off when you open a Macy's card
Beware of High APRs
Like many store cards, the Macy's credit card has a high annual percentage rate (APR) of 34.49%, so it's important not to carry a balance. Carrying a balance can result in you being charged more interest than you earn from the card. Pay at least the minimum amount each month to keep your balance in check and reduce your interest charges.
The more you spend, the more rewards you get
Macy's Cardholders earn 2 to 5 points per dollar spent at Macy's, depending on the level of spending. When you open the card, you automatically start at Silver level. Rewards members without a card start at Bronze level.
Anyone who spends $1,200 or more on their Macy's credit card each year becomes a Platinum level member and earns 5 points per dollar spent, which is a very high rewards rate.
relevant: How to Save the Most at Macy's All Year Round
Macy's Credit Card Selection
When you apply for a Macy's credit card, you may be given the option to open another version of the card, the Macy's American Express® Card, which can be used outside of Macy's where American Express is accepted. It also allows you to earn additional points on outside purchases.
- Earn 3 points for every $1 spent at restaurants, including delivery
- Earn 2 points for every $1 spent at gas stations and supermarkets
- 1 point per $1 spent elsewhere
This version of the card also gives you access to American Express benefits like Amex Offers, which can help you earn more rewards and gives you pre-sale access to event tickets.
1,000 points is equal to $10.
The point of the Macy's card is to earn rewards that help you save money on future Macy's purchases, so there are no other redemption options.
Here’s how it works: Every time you reach 1,000 points, you’ll be issued a $10 Star Money certificate. But there’s one big downside if you don’t shop often: Star Money rewards expire 30 days after they’re issued. Generally speaking, you’ll have to go back to a Macy’s store or online in the same month you received the Star Money certificate to enjoy the savings.
Shopping Tips: If you're a Macy's cardmember, it may be a good strategy to hold off on purchasing certain items once you get close to 1,000 points, because you know you'll have to go back in the near future to redeem your rewards.
Also, keep your account active. If you don't make an eligible purchase with your Macy's credit card for 12 consecutive months, all points and unused Star Money will be forfeited.
Star Money Rewards points can be used for purchases at Macy's, but not for gift cards.
Special Cardholder Discount
The Macy's Star Rewards program is free to join and open to everyone, so you don't necessarily need a credit card to enjoy some of the benefits. For example, all Star Rewards members receive a birthday gift during their birthday month.
But there is a special benefit that only cardholders can enjoy called Star Passes. These are coupons that you will occasionally receive in the mail, usually for 25% off. Be sure not to unsubscribe from Macy's marketing emails, or you will not receive them.
Cardmembers who achieve Gold or Platinum tier status can enjoy free shipping with no minimum purchase, while Silver members can enjoy free shipping with a minimum spend of $25.
Another approach to consider
If you have a higher-level Macy's American Express card, you may be able to earn more rewards when you use it on purchases outside of Macy's, but it may not be the best choice if you have other credit cards available.
For example, if you have a regular rewards card that earns bonus points on the categories you shop the most, you’ll have more redemption options. In fact, if you want, you can cash out your rewards for a Macy’s gift card that has no expiration date.
Is the Macy's card worth it?
For some shoppers, having a Macy's credit card may be worth it. These include:
- People who spend enough money to reach Gold or Platinum tier and receive free shipping.
- A consumer who can pay his or her credit card bill in full every month.
- These are the people who approach Macy's shopping strategically to make sure their rewards period doesn't expire.
If the features listed above don't work for you, you may be better off joining Macy's Star Rewards for free and then using a regular rewards credit card that offers flexible redemption options.
relevant: Macy's Sale Calendar to Bookmark for Future Savings
More Macy's Credit Card Tips
How do I apply for a Macy's credit card?
You can apply for a Macy's credit card in person at a Macy's department store checkout counter or online at the Macy's website.
Can I pay my Macy's credit card bill in-store, online, or by phone?
You can pay your Macy's credit card bill in person at the checkout counter of any Macy's store using cash, check, debit card, or checkbook. You can also pay online by logging into your Macy's account. By phone, call 1-888-257-6757 and have your Macy's account number ready. Finally, you can pay by mail.
Where can I use my Macy's credit card?
The Macy's credit card can be used in Macy's stores and online at Macys.com. The Macy's American Express card can be used anywhere American Express is accepted.
The post What Every Macy's Shopper Needs to Know to Save Money with a Macy's Credit Card first appeared on The Real Deal by RetailMeNot.
