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Jared and Kay - Sister Companies

New Contributor

Jared and Kay - Sister Companies

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.

09/2013: TU FICO 692, EQ FICO 698, EX PLUS 709. No apps until December 2014!
Freedom: $1500 Cap1 Plat: $2000 Cap1 Cash: $1500 Barclays: $4000 Walmart: $2700 GE Luxury: $4800 Jared: $1500 Davids Bridal: $1500
Message 1 of 16
15 REPLIES
Established Contributor

Re: Jared and Kay - Sister Companies

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.

Message 2 of 16
New Contributor

Re: Jared and Kay - Sister Companies

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.

09/2013: TU FICO 692, EQ FICO 698, EX PLUS 709. No apps until December 2014!
Freedom: $1500 Cap1 Plat: $2000 Cap1 Cash: $1500 Barclays: $4000 Walmart: $2700 GE Luxury: $4800 Jared: $1500 Davids Bridal: $1500
Message 3 of 16
New Contributor

Re: Jared and Kay - Sister Companies

Should I close Kays and have it reporting that my CL with Jared is $1200? or keep it how it is?

09/2013: TU FICO 692, EQ FICO 698, EX PLUS 709. No apps until December 2014!
Freedom: $1500 Cap1 Plat: $2000 Cap1 Cash: $1500 Barclays: $4000 Walmart: $2700 GE Luxury: $4800 Jared: $1500 Davids Bridal: $1500
Message 4 of 16
Frequent Contributor

Re: Jared and Kay - Sister Companies

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

Back in the garden!
App free since 23Oct2012 reset to 27Aug13 and reset again 4nov13
Message 5 of 16
New Contributor

Re: Jared and Kay - Sister Companies

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?

09/2013: TU FICO 692, EQ FICO 698, EX PLUS 709. No apps until December 2014!
Freedom: $1500 Cap1 Plat: $2000 Cap1 Cash: $1500 Barclays: $4000 Walmart: $2700 GE Luxury: $4800 Jared: $1500 Davids Bridal: $1500
Message 6 of 16
Frequent Contributor

Re: Jared and Kay - Sister Companies

how long have you had the cards?

Message 7 of 16
New Contributor

Re: Jared and Kay - Sister Companies

They are 1 year and 4 months old.  Both of them.

09/2013: TU FICO 692, EQ FICO 698, EX PLUS 709. No apps until December 2014!
Freedom: $1500 Cap1 Plat: $2000 Cap1 Cash: $1500 Barclays: $4000 Walmart: $2700 GE Luxury: $4800 Jared: $1500 Davids Bridal: $1500
Message 8 of 16
Frequent Contributor

Re: Jared and Kay - Sister Companies

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.

Message 9 of 16
Frequent Contributor

Re: Jared and Kay - Sister Companies

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.

Back in the garden!
App free since 23Oct2012 reset to 27Aug13 and reset again 4nov13
Message 10 of 16