Macy's Preferred American Express Review
A Store Card with Points
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
|Late Payment Fee||Up to $39|
|Foreign Transaction Fee||3% of each purchase transaction in U.S. dollars|
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
If you don't shop at Macy's a lot, there are better points cards available
Macy's Preferred American Express Welcome Offer
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 if you are a platinum member.
It takes 1,000 points to get $10 in "Star Money" to offset the cost of purchases at Macy's stores, and even then not until you reach platinum status. 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|
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.
Is This The Right Card For You?
Like many store-branded cards, the Macy's Preferred American Express is really only useful if you are a serious Macy's shopper. And the rewards don't get generous until you spend $1,200 in a year. If you are not a serious Macy's shopper, stick to a points card.
Go to the Macy's website to apply.