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If you are a frequent Macy’s shopper, having a Macy’s credit card can be very beneficial to your wallet. The more you spend throughout the year, the more savings you will receive. Depending on your overall goals, you have two different card options. You can choose the Macy’s Store Card or you can opt for the Macy’s American Express Card. Both versions of the Macy’s credit card offer a lot of the same benefits. However, the Macy’s American Express Card comes with a few extras. In this Macy’s credit card review, we’ll break down the major terms of each card to help you decide if one is right for you.
What Are the Benefits of a Macy’s Credit Card?
Cardholders of either Macy’s credit card will earn different rewards based on the amount of spending they do (loyalty level is effective in February of each year, according to Macy’s website). The different tiers that you can reach are:
- Silver: Spending $1 to $499 per year
- Gold: Spending $500 to $1,199 per year
- Platinum: Spending $1,200+ per year
New cardholders start at the Silver level and then build from there each year. No matter which tier you’re at, you’ll enjoy exclusive offers reserved just for cardholders throughout the year. In addition to these savings, you will also have the opportunity to save an additional percentage off each year during Macy’s Thanks for Sharing event.
Occasionally, cardholders receive special surprise discounts at the register, no matter what level they are. If you are a Gold or Platinum cardholder, you will receive free shipping for online purchases.
What Are the Extra Benefits of the Macy’s American Express Card?
If you opt for the Macy’s American Express Card, not only will you receive all the benefits mentioned for the Macy’s store card, but you will also have access to Amex Offers. This will provide you with extra discounts at your favorite retailers and restaurants.
If you sign up for the Plenti rewards program, you can also get three Plenti points at restaurants and two Plenti points per dollar spent at gas stations and supermarkets and on Macy’s beauty and fragrance items when you link your Macy’s American Express Card to a Plenti account. You get one Plenti point per dollar spent everywhere else. Plenti is a multi-store loyalty program powered by American Express that anyone — not just American Express cardholders — can sign up for. Plenti points can only be earned and redeemed at its retail partners, which include Macy’s, Rite Aid, Expedia and Exxon. (There are some restrictions to these offers, so make sure you read the card details for specifics.)
Whereas the Macy’s store credit card can only be used in Macy’s stores and on Macys.com, the Macy’s American Express card can be used anywhere an American Express card is accepted. Plus, if you are a Platinum Elite cardholder with the Macy’s American Express card, you will also receive several travel benefits, including discounts on airfare, hotels, rental cars and cruises.
What Are the Costs of the Macy’s Credit Cards?
Both of these cards have very similar costs. The standard annual percentage rate (APR) on purchases with the Macy’s store credit card as well as the Macy’ American Express is a variable 27.24%. This APR is on the higher side, so these cards aren’t best-suited to people prone to carrying a balance. (You can see how your current credit card balances are affecting your credit by viewing two of your credit scores for free on Credit.com.)
Neither card has an annual fee, but the Macy’s American Express card has a 3% foreign transaction fee if used outside of the U.S.
Alternatives to the Macy’s Credit Cards
If you do a lot of shopping at Macy’s, then either of the Macy’s credit cards would be a great option for saving money. The biggest downside is that you will not be able to earn rewards on your purchases, outside of the extra Plenti points you can get if you link your Plenti account to the Macy’s American Express Card. If you would prefer to earn rewards on all your purchases, no matter where you’re spending, you might want to consider one of these alternatives. (Note: This information below is just an overview; for full terms and conditions, please see the card agreements.)
Why We’re Mentioning it: Capital One® Quicksilver® Cash Rewards cardholders will receive an unlimited 1.5% cash back on every purchase made. This is great for anyone not interested in keeping track of different category bonuses. In addition to the cash back on purchases, you will also receive a $150 bonus after spending $500 in the first 3 months of account opening. Plus, anyone who is planning to make a large purchase could get some extra time to pay it off. With the Capital One Quicksilver (see full review here), you will receive a 0% intro on balance transfers for 15 months.
Annual Fee: $0
APR: 16.24% - 26.24% (Variable) after a 0% intro on purchases for 15 months expires.
Blue Cash Everyday Card From American Express
Why We’re Mentioning it: The Blue Cash Everyday Card will offer a generous amount of cash back. With this card, you will earn 3% cash back at U.S. supermarkets, up to $6,000 per year worth of purchases (after that, you’ll earn 1% back). You will also receive 2% cash back at U.S. gas stations and U.S. department stores, like Macy’s. All other purchases receive 1% cash back. Plus, when you sign up for the Blue Cash Everyday and spend $1,000 on the card within the first three months of opening your account, you will receive a $150 welcome offer.
At publishing time, the Capital One Quicksilver Cash Rewards and the American Express Blue Cash Everyday credit cards are offered through Credit.com product pages, and Credit.com is compensated if our users apply and ultimately sign up for these cards. However, this relationship does not result in any preferential editorial treatment. This content is not provided by the card issuer(s). Any opinions expressed are those of Credit.com alone, and have not been reviewed, approved or otherwise endorsed by the issuer(s).
Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.
This article was last updated on September 21st, 2017