I've learned that what I was previously told by Macy's credit department (aka FDS Bank) was crap. It is NOT necessary to have 6 months of credit history or spend $500 before applying for an increase. All that was marketing-motivated BS. An FDS bank supervisor approved my request for an increase today. Note that I haven't even had a chance to use the card. He added that I should call him again in 3 months to get another increase. (But I will use it soon - their 50% clearance only lasts till Jan 22, and there's also a discount coupon that I can add on top of that). To those who are interested, Fair Isaac's FTC presentation has taught us that a credit report listing a retain card will yield a higher score than one w/o it, if they are othewise identical. Saar
I figured that as all b.s. What's funny is that I called to have my Macy's card upgraded to *Premier* status. They said that I had to have $500 in spending at the end of their fiscal year (whenever that is). Then the rep stated that I had a lifetime of ~$1400 in charges (BYE!). THAT IS A LOAD OF CRAP! I worked there for TWO YEARS and I KNOW I have spent WAY MORE THAN $1400 since 1993! It's probably around $10K (maybe she ment $14K?). I know I spend alot every year with the exception of 98, 99, and 2/3 of 2000.....that was when my account was closed on their behalf due to the financial rollercoaster I went through (w/ a zero balance though).....I got it back open in 10/00 by way of the Credit Gods>!
What is a retain card? Is it a retail card ( department or visa )that has gone to the retention dapartment of the lender? What is required for a card to be a retain card. Thanks
Jon... You don't have to make comments like that. Sometimes (especially if you're new to the credit world~or anything else at that) things may not make complete sense. Let's be more supportive, okay? we're here to help each other, not make rude remarks...
RE: Jon... If that's how you feel, fine... but do you have to post it? I'm sure others migt be thinking the same thing as you, but Angela might have missed the post where Saar made the correction. Maybe it truly didn't make sense to her. It's one of those "duh" questions, but I know I've had my fair share of these, as well as many others on this board I'm pretty sure.
RE: What is a retain card? Angela asked what I consider a very witty question. And I would go further and say that maybe a "retain card" is a retail card that the retention department WANTS to retain. In other words, "retain" could be an imperative as well as a question. (In addition to being a typo, of course.)
