Frequent Contributor
Posts: 302
Registered: ‎09-06-2011

Kay Card - Sterling Bank approval

[ Edited ]

Went in looking at some engagement rings and lady was a closer..LOL..she had me fill out the Kay App and see if I can get credit. Was going to wait until I pay down my balances (currently at 28% UTIL) and thought I would be turned down...came back as approved for $2800. WOW...I was shocked...anyway picked up the ring and used the entire credit limit...put down $750 out of pocked for the 20% down 1 year no interest deal (Will probably pay it off in next 3-5 months)


I have 4 credit card with limits of $1000, $1000, $750 and $400. All Major credit cards and $650 Amazon Store Card. So right now without this I'm at $3800...Will be at $3400 total credit as Im closing the $400 limit card (HSBC $59 AF hitting in 2 weeks). Willing to keep it open if they waive it for util purposes, however if not it's gone. Right now out of $3800 I have about $1000 or so on those cards so good Util but could be better....


So here is the question.


Is Kay a revolving account??? Just asking because if I got $2800 out of $2800 then my util will be about 60% or so (not great)(100% on that card alone)...which might be a good think since it will force me into a garden for a while...


or is kay an installment account and it won't factor into my utilization?


Just wondering for those that have the account?


Oh and my score is 630 TU from here mid January. No Baddies in last 3 years on any credit cards..before that I have 5 baddies..2 unpaid.



NFCU Visa Sig $25k / Fidelity Amex $7.5k / Chase Freedom Visa $7.5k / BOA - BBR MC $7.5k / Chase Sapphire Preferred $7k / Best Buy Platinum MC $3K / Barclay Rewards MC $2k / Chase Amazon Visa $1k / Discover IT $1K / GE Lowes and GE Walmart $5k / GE Amazon $2450 / Target RedCard - $300 / NO CAPONE IN MY WALLET ANYMORE!
New Contributor
Posts: 73
Registered: ‎08-29-2012

Re: Kay Card - Sterling Bank approval

It is a revolving account. 

My Wallet: AMEX Gold NPSL, Express 750, Victoria Secret 1050, Macy's 2K, Kay's 5800, Capital One 1.15K, Capital One 2000, QVC 1000, Walmart 2200, Pier 1 1250, Kohl's 300, JCrew 550, JCPenny 900

Current Scores: Lender Pull: 2/16/13 TU: 672 EX: 681 EQ: 671
Goal Score: 700
Community Leader
Senior Contributor
Posts: 3,814
Registered: ‎03-06-2010

Re: Kay Card - Sterling Bank approval

Go back to the store and get them to increase the CL due to your utilization on that line. They probably will do it. Then don't spend any more until its paid off.

I did that over Thanksgiving when I purchased Christmas gifts - bought my children some very nice gifts at Jared's, which is the same lender as Kays (Sterling), and since it was going to eat up 80% of my line I asked for additional credit to not appear overextended. The sales rep made a call and the line was increased from $10k to $15k instantly.

Valued Contributor
Posts: 2,777
Registered: ‎10-10-2012

Re: Kay Card - Sterling Bank approval

Congrats on the approval, and your upcoming engagement! :smileyhappy:

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 809 EX 774 TU 805
App free since 4/11/13
Established Contributor
Posts: 1,837
Registered: ‎08-20-2012

Re: Kay Card - Sterling Bank approval


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+