10-25-2012 11:08 AM
I have both a Jared's and Kay's cc opened and was wondering should I close the Kay's? It seems when reporting on my credit reports, they are splitting the balance so my credit limit is less then if I just had one card open. My Kay card is 0 balance, and Jared is about $200. Jared is reporting with an available limit of $750ish.
Thanks in advance.
10-25-2012 11:13 AM
Sorry I dont have the answer to your question. If you dont mind I would like to ask you a few question. Do you recall your score when you appiled for jared and did you have any baddies? Who issued the jared card? Thanks in adavnce and I hope you get the answer to your question.
10-25-2012 11:14 AM
I don't recall my score. I am an AU on my ex husbands Jared card (he has a $9,000 CL) so I think when I applied for my own they MAY have taken that into account. My credit when I applied wasn't as good as his is. I got approved for a $1200 CL.
10-25-2012 12:11 PM
Should I close Kays and have it reporting that my CL with Jared is $1200? or keep it how it is?
10-25-2012 12:16 PM
If they don't charge any af for Kays, just put it in the sock drawer for a while. It will help your utilization overall... I wouldn't close it
10-25-2012 12:22 PM
I wasn't sure if I should close it cause then my Jared card would reflect a higher CL. Is having two lines open better than just having one with a higher limit? There is no AF, but I wasn't sure if having a card I haven't used is really helping me anyway. Or would closing it have a negative impact on my score?
10-25-2012 12:32 PM
They are 1 year and 4 months old. Both of them.
10-25-2012 12:39 PM
ok it really does not make sense to have both cards since they are sister companies and you have 1 limit between the two. Normally i would not suggest closing a card but in this case i would.
10-25-2012 12:40 PM
My question is, will the company allow you to move your cl from kay to jared? if they do that, then closing kays won't do anything. the positive account will be on your report (good for aaoa) for 10 years. now IF they won't combine the limits, then keep both. You'll have the full cl available for your utilization. Keeping both open wont' hurt anything but if they take away the kays cl, your util will be impacted.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.