topic Re: Kay jewelers approval odds?? in Credit Cards

Kay jewelers approval odds??

Anonymous — Tue, 14 Jul 2015 14:18:03 GMT

Hi everyone, I have a question that i am actually asking for my daughter. She has 2 cards. She has a VS and a Capital one mastercard. Her VS has a credit line of 800, with a 50 dollar balance. But on the other hand her mastercard has a credi line of 2,200 and her utilization for that card is 2,000. SHe has never had a late payment always paid on time but just pretty much went to close to her limit. ANyhow I was wondering wha do you think her odds would be of applying for a kay jewelers card? She is currently also a college student and only works part time. But I was just wondering is it worth the hard pull and an inquiry for her. Currently she only has one inquiry from when she applied for her VS card last year. Her Capital one is 3 years old. Any advice would be greatly appreciated By the way currently her Transunion score is 610 EQ -605, not sure about Experian.

Re: Kay jewelers approval odds??

CH-7-Mission-Accomplished — Tue, 14 Jul 2015 14:41:09 GMT

@Anonymous wrote:
Hi everyone, I have a question that i am actually asking for my daughter. She has 2 cards. She has a VS and a Capital one mastercard. Her VS has a credit line of 800, with a 50 dollar balance. But on the other hand her mastercard has a credi line of 2,200 and her utilization for that card is 2,000. SHe has never had a late payment always paid on time but just pretty much went to close to her limit. ANyhow I was wondering wha do you think her odds would be of applying for a kay jewelers card? She is currently also a college student and only works part time. But I was just wondering is it worth the hard pull and an inquiry for her. Currently she only has one inquiry from when she applied for her VS card last year. Her Capital one is 3 years old. Any advice would be greatly appreciated By the way currently her Transunion score is 610 EQ -605, not sure about Experian.

Kay's is known to be pretty easy about handing out credit. Sometimes the limit is established based in part on how big the purchase is. Say you want to buy a 3K ring, they will give you a 5K limit.

But if your daughter is already maxed out on her one Cap1 card, owing 2K on 2.2K limit, in my opinion she should be putting all her money to paying that off. A colllege student with a part-time income and a maxed out primary credit card should not be buying luxuries like jewelry over time on credit.

So she would likely get the card but in my opnion shouldn't do it.

Re: Kay jewelers approval odds??

dallasareaguy — Tue, 14 Jul 2015 14:41:23 GMT

With a 600 score, she should be approved online. Kay has (in the recent past) given a credit line avg of active accounts. That would be $1500, but I would say depending on her income, expect $750-1250 with a max of $1500.

If you do apply, please post your results!

Re: Kay jewelers approval odds??

Anonymous — Tue, 14 Jul 2015 14:42:23 GMT

She may get approved. I was approved for this card with a few derogatory marks on my credit from a few years back. But I had been current with all my other bills at the time. From what I've read here The Kay's card is pretty easy to get but they may start her with a low limit. Good Luck

Re: Kay jewelers approval odds??

Anonymous — Tue, 14 Jul 2015 14:46:04 GMT

Thank you, I will pass on the info to her!!

Re: Kay jewelers approval odds??

Burned2manybridgesB4 — Tue, 14 Jul 2015 14:50:47 GMT

@Anonymous wrote:
Thank you very much for the advice. I will definitely pass it on to her!!

Tell her to go into the store, with a check stub, and it'll go much smoother as compared to an online app, as in a potentially larger TL.

When I was in rebuild, I did this. Shopping for an engagement ring with my old lady. Didn't get the ring that day, but told the clerk to continue processing it, as I'm undecided as to what I'm buying yet...they did.

Re: Kay jewelers approval odds??

Anonymous — Tue, 14 Jul 2015 17:23:55 GMT

I was approved when my score was about 610, income was 43,000 i think, and they gave me $3800. Decent card but make sure she knows that they do their minimum payments as a percentage of what you buy. Not exact numbers, but i bought something for roughly $300 and my min payment was $40. The more you spend, the higher the payment. There is a chart floating around somewhere. Good luck!

Re: Kay jewelers approval odds??

Anonymous — Tue, 14 Jul 2015 18:08:23 GMT

She should try to get her untilization of the cards she has down first, for the best overall chance at success. With almost maxed out cards, unless her scores are over 800, she probably would get denied. Even with high scores, maxed out cards scare just about every card out there. They may let 1 or 2 out of say 15 cards be maxed out but probably not 2 out of 2.

Re: Kay jewelers approval odds??

Pway — Tue, 14 Jul 2015 18:32:22 GMT

I don't see her getting denied. I had some substantial balances on my cards when I was approved for the Kay card. My limit was 500. As well as I have a bk dischared.

Re: Kay jewelers approval odds??

SLO805 — Tue, 14 Jul 2015 18:58:39 GMT

i just added this day after adding- discover, amazon, paypal, merrick and banana republic.

I make 100k+ annual but said i had too many recent inquiries (the above +navy federal cu and sf fire cu) and high utilization (i just bought 1800$ worth of watch and shoes) on one card so they only gave me 500$ limit -_-

cant imagine what i'd even use it for i may just close it out