Jewelers store wont close inactive card?

[Desmoire]

I have a Kay Jewelers CC that I haven't used since December of last year. I was kind of worried they would close it after 6 months, but to my surprise I just got a letter with a cli to 3,000. Will jewelers cards close due to inactivity? Or are they different since most people only spend $$ on Jewelry maybe once every year to a couple years? Thanks guys

[jamesdwi]

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@Desmoire wrote:

I have a Kay Jewelers CC that I haven't used since December of last year. I was kind of worried they would close it after 6 months, but to my surprise I just got a letter with a cli to 3,000. Will jewelers cards close due to inactivity? Or are they different since most people only spend $$ on Jewelry maybe once every year to a couple years? Thanks guys

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I would be very surprised that a jewelry company would close a card with non-use of less than 12 months, 18 months would sound a bit more likely but I could honestly see having a use for a that type of card once every 5 years for the large anniversaries and such. If you are really worried you can always go in and buy a container of jewelry cleaner should be less than $10... But I don't have a card with a jewelry shop.. perhaps i should get one in a  couple years to be ready for the big 30 year wedding anniversary.  

[Desmoire]

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@jamesdwi wrote:

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@Desmoire wrote:

I have a Kay Jewelers CC that I haven't used since December of last year. I was kind of worried they would close it after 6 months, but to my surprise I just got a letter with a cli to 3,000. Will jewelers cards close due to inactivity? Or are they different since most people only spend $$ on Jewelry maybe once every year to a couple years? Thanks guys

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I would be very surprised that a jewelry company would close a card with non-use of less than 12 months, 18 months would sound a bit more likely but I could honestly see having a use for a that type of card once every 5 years for the large anniversaries and such. If you are really worried you can always go in and buy a container of jewelry cleaner should be less than $10... But I don't have a card with a jewelry shop.. perhaps i should get one in a  couple years to be ready for the big 30 year wedding anniversary.  

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My credit was pretty bad a year ago (630) when I first applied and was given $1700. Jewelry stores seem to be very generous with TLs. Happy early 30 yr anniversary!

[Gnut]

I had a Kay Jewelers card closed for inactivity a few years ago. I don't recall the exact amount of time but it had right around 2 years of inactivity before they did close it. I don't even remember receiving anything from them and only found out when I went to make a purchase online.

[Anonymous]

Back in 2004 I opened a Kays Card. I was just 18 and new to credit so I was just approved for $400 with 20% down I believe. I bought a watch, and returned it and that was it. I never used it again and it was closed down for inactivity. Im not sure how long it took for them to close it down, after getting that kays card I screwed up all the other cards I had back then and just didnt care about credit. Its still on my reports and says it will be there till 2017. While all the bad credit card accounts i had back then that were charged off are already off my reports and has been for the last couple years. That was the only good account on my credit reports when I started rebuilding! It also has a lot of months in 2004-2005 reporting OK even though it was never used. It states that my highest balance was $68 and that $68 is also my credit line (which is wasnt at all) but its helping a lot with my AAoA especially since I started rebuilding and all of my cards (besides Kays of course) were just opened in the last 6 months. So they did close mine for inactivity and if I remember correctly I believe the close date was sometime in 2005.

[Billybob_TX]

Kay's will close after 2 years. I had a Jared's and a Kay's that I opened at the same time, never used the Jared's and they closed it after 2 years.

[enharu]

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@Desmoire wrote:

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@jamesdwi wrote:

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@Desmoire wrote:

I have a Kay Jewelers CC that I haven't used since December of last year. I was kind of worried they would close it after 6 months, but to my surprise I just got a letter with a cli to 3,000. Will jewelers cards close due to inactivity? Or are they different since most people only spend $$ on Jewelry maybe once every year to a couple years? Thanks guys

---

I would be very surprised that a jewelry company would close a card with non-use of less than 12 months, 18 months would sound a bit more likely but I could honestly see having a use for a that type of card once every 5 years for the large anniversaries and such. If you are really worried you can always go in and buy a container of jewelry cleaner should be less than $10... But I don't have a card with a jewelry shop.. perhaps i should get one in a  couple years to be ready for the big 30 year wedding anniversary.  

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My credit was pretty bad a year ago (630) when I first applied and was given $1700. Jewelry stores seem to be very generous with TLs. Happy early 30 yr anniversary!

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That is because of the markup of their diamonds and jewelry in general.

Same reason why Tiffany's financing is done in house by them, and they pre-determine how much downpayment they want you to put depending on your credit, which may be 25, 50 or 75%.

If your credit is horrible, they want 75% downpayment. If you do default, they pretty much sold it at a marginal (or not as much) profit, which still isn't bad.

Tiffany's financing is probably the most generous compared to other high end jewelers that do offer financing (cartier, graff diamonds, etc).

On the other end, Cartier uses TD Bank, which is very conservative. I spoke to my SA and he was talking about how the limits issued make his work so much harder too because everything is so expensive at Cartier and the limits are so low.