Whether you opt for a Macy’s (Stock Quote: M
) Visa card or a Macy’s card exclusively for Macy’s stores, card holders
get more discounts than non-card holders. You can get exclusive in-store savings, choose-your-own-sale days and coupons for dollars of your purchases. Additionally, if you have a card, you can make returns without receipts. And depending on how much you spend, you may be able to get free special services including gift wrapping and basic alterations.
The APR on the Macy’s credit card is 23.99% according to the Macy’s Web site. That’s more than double the average 11.5% APR for the average consumer credit card, according to Bankrate.com
Plus, in order to qualify for free gift wrapping and other services, you’ll have to spend at least $1000 per year at the store to qualify. At least late payment fees
aren’t the standard $40 across the board. They’re $15 for balances less than $50 and $29 for balances between $50 and $299.99 and $39 for $300 and up. We’ve seen worse.
Photo Credit: paulaloe