topic Re: Jared financing or AmEx ED 0% in Credit Card Applications

Jared financing or AmEx ED 0%

Anonymous — Mon, 11 May 2015 01:41:46 GMT

So within the last 1 1/2 months i have spreed quite a bit. However I am now in also at a point where I want to pull the trigger on an engagement ring and found some settings and stones at Jared.

I am curious about their requirements for financing, and chances of high SL. I am looking between $5-8000 on the ring. I could put this on my Amex ED that has a 13.5K credit line and also about a year of 0% interest left, but I dont want to affect my util that much.

So I feel like I have a few options; apply for Jared finance, and hope for high starting limit, or use my amex and apply for the prequal venture offer I have to offset util.

What should i do?

All scores over 720, Util less than 9% AAoA took a major hit after last spree and is less than 6 months. No Baddies, income 50K.

Amex ED: 13.5K

CSP: 5K

Freedom: 2.2K

Discover: 1K

PRG: NPSL

Barclays: 750

Re: Jared financing requirements.

Anonymous — Mon, 11 May 2015 01:19:51 GMT

Jared approves everybody. Your limit depends on your profile. Based on what you said here I think you have a good shot at a high enough limit for your needs.

Re: Jared financing requirements.

Anonymous — Mon, 11 May 2015 01:22:31 GMT

Right on, I feel like i will get approved, just wasnt sure for how much. Do you think their financing is a better bet, or should i go the amex and venture to offset util route?

Re: Jared financing or AmEx ED 0%

Anonymous — Mon, 11 May 2015 01:49:42 GMT

Well the financing is good if you plan to pay it off within a year because they'll give you 12months 0%.

Re: Jared financing or AmEx ED 0%

Anonymous — Mon, 11 May 2015 02:05:55 GMT

That's true. I'm leaning a little towards using my Amex and aping venture to offset. This opens up more jewelers that may not have in house financing. I guess I'll have to look and see what's out there before I make that choice.

Re: Jared financing or AmEx ED 0%

Anonymous — Mon, 11 May 2015 02:30:29 GMT

@Anonymous wrote:
That's true. I'm leaning a little towards using my Amex and aping venture to offset. This opens up more jewelers that may not have in house financing. I guess I'll have to look and see what's out there before I make that choice.

I like this option better and I think it is the best decision..

Re: Jared financing or AmEx ED 0%

Anonymous — Mon, 11 May 2015 02:42:58 GMT

Thanks for the response. The more I though about it I realize that I don't want to be locked to Jared. And I would rather have a TL that I can use elsewhere if I am going to apply for something else. I do hate the idea of the triple capital one pull, but oh well. I feel like venture is my best bet for a high limit and I've heard the pre qualify on their site is pretty solid.

Re: Jared financing or AmEx ED 0%

Anonymous — Mon, 11 May 2015 02:46:44 GMT

@Anonymous wrote:
Thanks for the response. The more I though about it I realize that I don't want to be locked to Jared. And I would rather have a TL that I can use elsewhere if I am going to apply for something else. I do hate the idea of the triple capital one pull, but oh well. I feel like venture is my best bet for a high limit and I've heard the pre qualify on their site is pretty solid.

Good.. But keep in mind there has been recent reports of people getting pre-equal on the CAP 1 site and when they apply, they get denied... Just an FYI

Re: Jared financing or AmEx ED 0%

Anonymous — Mon, 11 May 2015 02:50:21 GMT

Damn I hadn't seen those reports. That's not a good feeling I know it's always a risk but hoped that it was pretty accurate. I'll guess I'll have to wait and see. I'd apply now but it's late and I'm worried if it's not instant approval no recon at this hour, and I wouldn't be able to sleep haha

Re: Jared financing or AmEx ED 0%

Anonymous — Mon, 11 May 2015 02:52:31 GMT

@Anonymous wrote:
Damn I hadn't seen those reports. That's not a good feeling I know it's always a risk but hoped that it was pretty accurate. I'll guess I'll have to wait and see. I'd apply now but it's late and I'm worried if it's not instant approval no recon at this hour, and I wouldn't be able to sleep haha

Stop it ..hahahaha... lets plan for it. What are your scores? Any baddies?

Re: Jared financing or AmEx ED 0%

Anonymous — Mon, 11 May 2015 03:14:43 GMT

All over 720 no baddies. Few more specifics in first post. Only real thing holding my back is recent inquiries and AAoA. 4 Inq From auto loan shopping over a month ago and 4 from cards

Re: Jared financing or AmEx ED 0%

Anonymous — Mon, 11 May 2015 03:52:21 GMT

@Anonymous wrote:
All over 720 no baddies. Few more specifics in first post. Only real thing holding my back is recent inquiries and AAoA. 4 Inq From auto loan shopping over a month ago and 4 from cards

Inquiries are not bad. What is your AAoA?

Re: Jared financing or AmEx ED 0%

Anonymous — Mon, 11 May 2015 07:11:59 GMT

just find a ring at a place you want and get their financing. they'll tell you your monthly payments and you won't really go longer than a year because you won't be spending on the card anymore... with your credit card you may still make purchases and pay interest later by accident

Re: Jared financing or AmEx ED 0%

Anonymous — Mon, 11 May 2015 09:49:06 GMT

AAoA took a major hit after March spree, less than 6months now. I Know that has an impact in things. I found some much better deals on stones and some settings I like on Blue Nile. Definitely looks like the way to go versus brick and mortar prices I've been seeing.

Re: Jared financing or AmEx ED 0%

Anonymous — Mon, 11 May 2015 13:54:44 GMT

Just realized I hit post too quickly on my last message. I meant to give you a little be more information. My fiance and I just got engaged in March and we opened a Jared account in my name to finance part of the purchase. While I do like that the offer is 12 months same as cash, if either of us had the option of putting it on a regular credit card at the time I would have preferred that. My reasoning is that right now I have a store card on my profile with near 100% utilization until we pay it down. I know my score will bounce back as the balance decreases but seeing that 100% utl annoys me LOL. Another thing is that I don't think we will get much use out of the card going forward as we are not normally jewelry buyers so I think in essence its kind of a wasted card. So all that to say, if you have the option of using your AMEX instead and getting another useful credit card to pad your utl, go with that option. Hope that helps! :-)

@Anonymous wrote:
AAoA took a major hit after March spree, less than 6months now. I Know that has an impact in things. I found some much better deals on stones and some settings I like on Blue Nile. Definitely looks like the way to go versus brick and mortar prices I've been seeing.

Re: Jared financing or AmEx ED 0%

Jarnog — Mon, 11 May 2015 14:05:03 GMT

@Anonymous wrote:
So within the last 1 1/2 months i have spreed quite a bit. However I am now in also at a point where I want to pull the trigger on an engagement ring and found some settings and stones at Jared.

I am curious about their requirements for financing, and chances of high SL. I am looking between $5-8000 on the ring. I could put this on my Amex ED that has a 13.5K credit line and also about a year of 0% interest left, but I dont want to affect my util that much.

So I feel like I have a few options; apply for Jared finance, and hope for high starting limit, or use my amex and apply for the prequal venture offer I have to offset util.

What should i do?

All scores over 720, Util less than 9% AAoA took a major hit after last spree and is less than 6 months. No Baddies, income 50K.

Amex ED: 13.5K
CSP: 5K
Freedom: 2.2K
Discover: 1K
PRG: NPSL
Barclays: 750

First off, congrats!!!

Secondly, rewards!! Personally, I'd agree with you about being "locked" in to one particular place. You will use it once and then what? Unless you are a frequent jewelry purchaser then it becomes a dormant line. Either way you are probably looking at a small hit for virtually maxed out utilization. One of those jewelry companies will probably give you enough to cover the cost but being $8000/10000 or $8000/135000 or whatever (high end) is high and that temporary hit will come. Since you have the 0% on the ED for basically the same amount of time, why not take that, get the points and move forward . You'll get the ring, you'll get the points, you'll take a small hit for the utilization, you'll have the same amount of time at 0%, and the fiance is happy! WIN WIN WIN!!! LOL

Just my thoughts

Re: Jared financing or AmEx ED 0%

Anonymous — Mon, 11 May 2015 14:37:00 GMT

Again I appreciate all the input guys. Looks like I'll be going the Amex route and use my 0 interest. Just seems to make the most sense. Hopefully the cap 1 pre approval is solid and I get a line that will pad util.

Re: Jared financing or AmEx ED 0%

Anonymous — Mon, 11 May 2015 20:57:52 GMT

Just an update, applied for venture, instant approval for 16k! My highest limit card and will pad my until nicely. I almost wanna put my ring through it for the sign up bonus and transfer to the Amex for interest.

Re: Jared financing or AmEx ED 0%

Anonymous — Mon, 11 May 2015 20:59:32 GMT

@Anonymous wrote:
Just an update, applied for venture, instant approval for 16k! My highest limit card and will pad my until nicely. I almost wanna put my ring through it for the sign up bonus and transfer to the Amex for interest.

Yess... You did it!!!! Good job and congrats.

Re: Jared financing or AmEx ED 0%

orestrus — Mon, 11 May 2015 21:09:07 GMT

Be prepared for Amex FR is you put thhat ring on them