Macy's Credit Card

No surprise by now that I like to shop... I've recently been buying a lot of gifts and even some gifts for myself ;) at Macy's, and I don't have a Macy's card, which means that I'm missing out on a lot of the "extra 20% off" deals for cardholders, which I'm now thinking could really pay off.

What's holding me back:
1) I don't like to nick my credit rating with new inquiries from opening up cards. I've heard that multiple inquiries in a short period of time will only count against you once, and since I recently opened up a new USAA cash rewards card, I might be able to sneak in a Macy's card without affecting my credit score.

2) I think you get a pretty good discount on purchases on the DAY that you open the card, and since I want to maximize that benefit, I'm waiting until I need to make an expensive purchase... I guess the $183 dress I bought last month didn't count ;) But then I just bought a gift at Macy's for $76 and I could have saved $10 or so if I had had a Macy's card... not to mention all of the special cardholder coupons you get in the mail.

Sigh. I can't decide when/if to do this.