Macy's Preferred American Express Review

A Store Card with Points

Macy's sign and storefront
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Macy's customers who want to earn rewards might consider the Macy's Preferred American Express Card. Unlike conventional store credit cards, this is a co-branded credit card that can be used anywhere American Express is accepted.

Macy's Preferred American Express Details

Rewards Rate 1%-3%
Ongoing APR 27.49%
Late Payment Fee Up to $39
Foreign Transaction Fee 3% of each purchase transaction in U.S. dollars
This card has no annual fee, sign-up bonus, intro APR, balance transfer, or recommended credit score

Pros & Cons of Macy's Preferred American Express

What We Like

  • Generous rewards for Macy's shoppers

  • 1%-3% rewards for general spending

  • No annual fee

What We Don't Like

  • High APR

  • If you don't shop at Macy's a lot, there are better points cards available

Macy's Preferred American Express Sign-up Bonus

This card has no sign-up bonus.

Earning Points & Rewards

The Macy's Preferred American Express Card rewards program, as of May 2019, offers 3% on money spent in a restaurant, 2% for purchases in gas stations and supermarkets and 1% anywhere else.

Cardholders also receive Star Passes periodically throughout the year based on rewards level. Star Passes can be used for discounts on purchases. Free shipping is included for cardholders . You’ll get 5% back in rewards plus bonus Star Points fif you are a platinum member.

Redeeming Rewards

It takes 1,000 points to get $10 in "Star Money" to offset the cost of purchases at Macy's stores. If you get this card, you'll receive two statements each month; one for Macy's purchases only and one for American Express. That can make it confusing to keep track of what you owe and what you're paying in fees and charges.

Your outstanding points balance will expire after any consecutive 12-month period without a qualifying purchase on the account.

Macy's Preferred American Express' Other Features

Because this is an American Express credit card, you'll also receive the benefits you'd get with any other American Express credit card, which include:

  • Price protection
  • Purchase protection
  • Return protection
  • Extended warranty
  • Event ticket protection
  • Travel accident insurance
  • Baggage insurance plan

You'll receive a list of specific benefits when your card is mailed to you.

Macy's Preferred American Express' Additional Fees

Returned Payment Fee Up to $39
Cash Advance APR 27.49%
Cash Advance Fee Either $5 or 4% of the amount of each cash advance
This card has no penalty APR or overlimit fee

Interest Rate

There's no annual fee, but there is a hefty APR of 27.49% for purchases, as well as cash advances. The late fee and returned payment fee are both up to $39. This is the same deal as is offered with the standard Macy's card.

Clearly, it's wise to pay your balance in full every month. Otherwise, you can easily pay enough interest to negate the rewards you've earned on your purchases.

While the card gives you the ability to take out a cash advance, you should avoid it for the same reason you should pay your balance in full each month. Cash advances start generating interest right away, making interest charges difficult to avoid.

Is This The Right Card For You?

If you're a Macy's card holder, you've probably received an invitation to upgrade to the American Express version. Here's what you need to know: A co-branded credit card is issued and marketed by two parties, a retail business like Macy’s and a credit card company like American Express.

Generally, the card offers the user additional benefits such as rewards for using it at the retail business, but it also can be used at any other retailer that accepts the credit card. American Express has co-branded cards with many partners, from Mercedes-Benz to Delta Airlines.

Like many store-branded cards, the Macy's Preferred American Express is really only useful if you are a serious Macy's shopper. Otherwise, stick to a points card with a more redemption options.

Next Steps

Go to the Macy's website to apply.