Macy’s is a high-end department store founded by Rowland Hussey Macy. They offer a range of products, including clothes and accessories and also sell cosmetics, home furnishings, and consumer goods. The target market for Macy’s is middle-class women aged 16 to 34 years. Synchrony Bank is an online financial services company owned by Brian D. Doubles. They provide competitive interest rates on savings, the money market, and cash deposit account. Here we will see about Does Macy’s Use Synchrony Bank?
Macy’s does not use Synchrony Bank. Citibank issues their credit cards, and their American Express cards are issued by Department Stores National Bank. You can apply for a credit card from Macy’s online at their website or in any of their stores. Macy’s credit card is a store card and it can only be used at Macy’s stores. Its American Express card can be used in any store that accepts an American Express card.
You need a credit score of a minimum of 700 points to get a credit card from Macy’s. Your credit score is usually determined by:
- Your income, exclusive of taxation.
- Your credit-to-income ratio
Does Macy’s Use Synchrony Bank?
Macy’s store cards are divided into three tiers:
- Silver
You need to spend between $1 and $499 annually. You get 2% cashback.
- Gold
You need to spend between $500 and $1,999. You earn 3% cashback.
- Platinum
Their platinum credit card is the highest tier of their cards and is usually issued to clients who spend a minimum of $1200 a year. On every purchase you make using the platinum credit card, you will be rewarded with a 5% cashback .
Macy’s credit card limit is between $500 and $2,500. You can earn rewards in discounts and promotions on the Macy’s credit card because it is a loyalty card that rewards loyal customers that usually shop in their store.
With the Macy’s American Express Card, you are allowed to make a full or partial payment monthly. You can use the cards for the following:
- Sporting events
- Pre-sale theater tickets
- Restaurants
- Gas stations
Features of Macy’s cards:
- No annual fees.
- The store card and American Express cards have an APR of 26.74%.
- Travel and entertainment benefits.
- Once you get the card, you get 20% off your purchase, up to $100.
Benefits of Macy’s American Express card
- It can be used in any store that accepts American Express cards.
- Once you have accumulated 1000 points while using your American Express card, you will be credited $10, which you can use to purchase anything at Macy’s.
- There is a zero annual fee and you get 20% off when you open a Macy’s card.
- You get 3% back in restaurant rewards.
- You get it when you use your card at supermarkets and stations.
Major retailers that use Synchrony Bank.
Synchrony Bank issues 116 store cards. These are the top stores whose retail cars are issued by Synchrony Bank:
- Amazon
- Lowe’s
- Guitar Center
- Gap
- Cathay Pacific
- Rakuten
- Verizon
- Sam’Club
You will not be able to use your store card issued by Synchrony Bank everywhere. The types of store cards issued by Synchrony Bank are:
- Co-branded credit cards
- Credit cards for retail businesses
The similarity between store cards issued by Citibank and Synchrony Bank
- No annual fees.
- Cash back earnings are upon continuous use of the card.
- They both specialize in retail credit cards.
Differences between Citibank and Synchrony banks’ credit cards
- Citibank issues an American Express credit card while Synchrony Bank issues a Mastercard.
- Citibank offers 2% to 5% cashback on all purchases made with Macy’s credit card or American Express card, while Synchrony Bank gives 2% cash back on all purchases made using their MasterCard.
- You need a credit score rating of 700 to be eligible for a credit card at Citibank, while a credit score of 640 is enough to get you approved for a credit card with Synchrony Bank.
- Citibank charges an APR of 26.74%, while Synchrony Bank charges an APR of 29.99%.
Summary
Macy’s does not use Synchrony Bank. Their credit card, which is a store card, is issued by Citibank and can only be used at Macy’s, while their American Express Mastercard is issued by the department store’s national bank and can be used in any store that accepts American Express cards. There are several benefits and promotions provided to loyalty card customers who spend a minimum of $1,200 or above annually.
FAQ
Can you get cashback on Macy’s credit card?
No, you will not get cashback on the Macy’s credit card. if you are using Macy’s American Express card, you can get a cash advance at the ATM
Can you pay your Macy’s credit card with a credit card?
You cannot pay your Macy’s credit card or American Express credit card with a credit card or a gift card.
What is the grace period given for the repayment of Macy’s credit card?
Macy’s gives a grace period of 25 days for the repayment of their store credit cards and American Express cards.
