Is the Macy's Credit Card Worth It? Editor’s Review for 2024 (2024)

Pros

• No membership fees
• High rewards rate
• 25% discount initial rewards bonus

Cons

• Very high regular APR
• No balance transfers allowed
• Foreign fee
• No intro APR on purchases

Is the Macy's Credit Card Worth It?

The Macy's Credit Card is worth it if you shop at Macy’s, as it has a $0 annual fee and rewards of up to 5 points / $1 spent on Macy’s purchases. You can also get a 25% discount when you open and use your card, plus occasional 25% discounts with Macy’s Star Passes.

It’s easier to get a Macy’s card than you might think, too. The Macy's Credit Card on the American Express network requires good credit or better for approval, but if you don’t qualify for that version, you will be automatically considered for the Macy's Store Card, which requires a minimum of fair credit. The two cards are nearly identical, except that the Macy’s Amex can be used wherever American Express is accepted and gives bonus points at restaurants, gas stations and supermarkets, too. The store card only works for Macy’s purchases.

This review will focus on the Amex version, the Macy’s Credit Card. But you can also see how it compares to the store card in case you wind up getting approved for that instead.

What You Need to Do to Make the Macy's Credit Card Worthwhile

To make the Macy's Credit Card worthwhile, you should always pay your monthly credit card bill in full. The card’s APR is extremely high, at 34.49% (V), and paying in full allows you to avoid accruing interest, which would otherwise eat into the value you get from the card’s rewards.

You should also take advantage of the first purchase discount and any occasional discounts given to you as a cardholder. Similarly, if you’re saving up points for a big purchase at Macy’s, it’s a good idea to charge your restaurant, gas station and supermarket purchases to the card for bonus points. Keep in mind that Macy’s points expire if your card is closed or if you don’t make a purchase for 12 months with either your card or your Star Rewards membership.

Macy’s Credit Card Highlights

Up To $100 Off Your First Purchase

You will receive a 25% discount on purchases at a Macy’s store or on Macys.com for two days after account approval, with the savings being applied to your account as a statement credit. Note, however, that the discount cannot exceed $100. That means only purchases of $400 or less will benefit from the discount. What’s more, you’re only eligible to receive this rebate if you’re immediately approved for an account upon applying. If “further processing” is required, you’re out of luck.

Up To 5 Points Per $1 Spent

After the first-purchase discount, 2 to 5 points per $1 spent at Macy’s, depending on your annual spend. Platinum members – people who spend $1,200+ at Macy’s per year – get 5 points per $1. Gold members – those who spend $500+ per year – get 3 points per $1. Everyone else gets 1 point per $1.

You will also earn 3 points per $1 spent at restaurants, 2 points per $1 at gas stations and supermarkets and 1 point per $1 everywhere else.

Points are worth $0.01 each, but you can only redeem for Macy’s merchandise. Once you accumulate 1,000 points, a $10 reward will be issued.

Access To Special Promotions

You will receive three to 12 Star Passes per year, depending on how much you spend. A single purchase qualifies you for three, while spending at least $500 gets you six and crossing the $1,200 mark scores you 12. A Star Pass is basically a discount code redeemable for certain Macy’s purchases, but you can receive them only if you’re signed up to receive Macy’s marketing material and if your account is in good standing.

Additional benefits, include exclusive travel deals, savings on dining and shopping, and a birthday gift. Plus, you get to choose a day for 25% off, and if you’re a Gold or Platinum member, you get free standard shipping on Macy’s purchases.

No Annual Fee

The Macy’s Credit Card does not charge an annual fee. The same can be said for most retailer-affiliated credit cards, but not for the average credit card overall. The average annual fee among new credit card offers is currently $22.29.

Not having to worry about an annual fee allows you to keep your account open for longer without concerns over getting your money’s worth. It also makes it easier to justify adding the Macy’s Credit Card if you have other credit card accounts open already.

Macy’s Credit Card Lowlights

Very High Regular APR

The Macy’s Credit Card has a regular APR of 34.49% (V). For context, the average APR for “good credit” credit cards is 24.12%, and the store-card average is 30.16%, according to WalletHub’s latest Credit Card Landscape Report.

You should therefore strive to always pay your Macy’s Credit Card bill in full. That shouldn’t be too big of a sacrifice, though, considering that high-end clothing and accessories purchases are not debt-worthy necessities.

No 0% Purchase Financing

Many credit cards, including retailer-affiliated plastic, offer reduced introductory financing rates on new purchases and/or balance transfers. The Macy’s Credit Card does not. In fact, balance transfers aren’t allowed at all.

This isn’t the worst thing in the world, considering the types of goods that Macy’s sells (primarily clothing and accessories) and the fact that many retailer financing deals come with a sneaky feature known as “deferred interest,”. But the lack of low introductory interest rates is certainly not a positive feature, either.

Other Things To Consider About The Macy’s Credit Card

3% Foreign Transaction Fee

American Express’s relatively limited worldwide acceptance and the largely domestic presence of Macy’s are far from a dream combination for international travelers, so this card’s 3% foreign transaction fee isn’t likely to affect most users. But if you do plan to travel abroad or shop online through international merchants, make sure to use a credit card with no foreign fee.

Good or excellent credit required

You'll need good or excellent credit to get approved for the Macy’s Credit Card. You can check your latest credit score for free on WalletHub to gauge your odds of getting this version of the offer.

What If You’re Declined For The Macy’s Credit Card?

If you don’t get approved for the Macy’s Credit Card, you will be considered for the Macy’s Store Card. The Macy’s Store Card is easier to get, requiring just fair credit, and it offers nearly all the same perks as the Amex version. The biggest difference aside from the minimum credit score requirement is that you can only use the Macy’s Store Card at Macy’s and macys.com.

Macy’s Credit Card vs. The Competition

Macy's Credit Card Review Methodology

This Macy's Credit Card review is based on WalletHub’s proprietary 100-point credit card rating system. By using a consistent methodology to evaluate the Macy's Credit Card and all other cards, WalletHub’s credit card experts make it easy for people to compare their options and find the best credit cards for their needs.

The WalletHub rating system uses 16 key metrics grouped into seven categories: Fees, Rewards, Two-year Cost, Interest Rates, Approval Requirements, Special Features, and Reviews. Each metric has a maximum number of points allocated to it, based on the metric’s importance as determined by our editors. The points are added up to create an overall rating for the Macy's Credit Card out of a maximum of 100 points, which is then converted to a 5-point scale.

Ratings for each category reflect how close Macy's Credit Card is to WalletHub’s definition of a 5-star credit card, which is based on market conditions and what we believe are reasonable terms. We compare Macy's Credit Card to that standard to give a numerical approximation of how reasonable and competitive its terms are compared to other cards.

To learn more about how WalletHub rates credit card offers, check out our full credit card review methodology.