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Jared and Kay - Sister Companies

New Contributor

Re: Jared and Kay - Sister Companies

It was mostly because Jared has stuff I would like, when Kay is less expensive and I could buy smaller gifts there (mothers day, etc.)

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 11 of 16
New Contributor

Re: Jared and Kay - Sister Companies

If I close, the CL will all go onto the Jared Card.  I was just thinking that if I closed Kay and the full CL went to Jared, my utlization on the Jared card would improve.

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 12 of 16
Frequent Contributor

Re: Jared and Kay - Sister Companies

yes you have a limit of 1200 for both cards which they are splitting up on your report its like you have 600 for each i would keep one since you can use at either store.

Message 13 of 16
Frequent Contributor

Re: Jared and Kay - Sister Companies

This is exactly why I closed my Kays account about a year ago.  I had a $400 limit (split $200 for each of my Jared and Kays account).  I purchased an item for $360 at Jared and it made my account appear to be over the limit.  So I closed Kays and the full limit now reports only on my Jared card.   After I paid it off, I received a CLI $1,100.  Multiple Sterling accounts share your credit limit and balance.   

04/10/17 - FICO 8s - EX 769, EQ 710, TU 724
Message 14 of 16
New Contributor

Re: Jared and Kay - Sister Companies

Did you see improval in your credit scores when the balance was reflected on one card?

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 15 of 16
Frequent Contributor

Re: Jared and Kay - Sister Companies

I closed my Kays account right away to avoid it being reported as over my credit limit.  I don't remember it affected my score because I caught it  so early on.

04/10/17 - FICO 8s - EX 769, EQ 710, TU 724
Message 16 of 16