topic Re: Need advice on Jared/Kay Cards in Credit Cards

Need advice on Jared/Kay Cards

randaljon — Sun, 19 Jun 2011 05:22:24 GMT

My TransUnion Fico is 688 and Equifax is 637 as of now. But I have 8 inquiries on Equifax and 6 on TransUnion since January mostly due to Credit Building and a few due to Wells Fargo hitting me with 4 inquires for opening Checkin/Savings/Secured Card.

I heard it's not too hard to get approved for Kay/Jared cards and I need one for an upcoming engagment ring purchase. But will the inquiries hurt me? I also have a discharged bankruptcy from 2005 on my reports. Should I apply now or hold off for 6 months? Anyone know what kind of credit limit I could expect? Better to apply in store or online?

Thanks.

Re: Need advice on Jared/Kay Cards

Anonymous — Sun, 19 Jun 2011 13:04:53 GMT

If you apply for Kay or Jared you'd have nine inquiries in six months. I'd say wait until next june when the inquiries will be a year or more old or be prepared to recon.

Re: Need advice on Jared/Kay Cards

unlucky_hove — Sun, 19 Jun 2011 15:24:42 GMT

I app'ed for the Kays card on 09/11 with 8 inquires (4 from a car loan in 08/11), >60% utility, and a CO from 2006 was instantly approved for $3980 (48k annual income). You will be approved, but its hard to say what CL you will get.....DW got a kays back in 08 and they started her limit at 1550, with a 630 EQ and 50k annual income. I dont know how true this is but i was told by a CS rep that the only way to get your CL manually increased was to go into a store and they could do it.

Re: Need advice on Jared/Kay Cards

Anonymous — Mon, 20 Jun 2011 12:42:02 GMT

Beware they don't report Max limit, they only report what's being usedas Max on reports your utility will be maxed

Re: Need advice on Jared/Kay Cards

Anonymous — Mon, 20 Jun 2011 14:59:33 GMT

@Anonymous wrote:
Beware they don't report Max limit, they only report what's being usedas Max on reports your utility will be maxed

Thats odd, mine shows max limit

sorry about formatting but this is how mine shows:

Experian® Equifax® TransUnion®

Account Name KAY JEWELERS KAY JEWELERS KAY JEWELERS

Account Type Charge Account Revolving or Option Revolving account
Balance $69.00 $69.00 $69.00
Date Opened 5/1/2010 5/1/2010 5/9/2010

Account Status Open Open
Mo. Payment $25.00 $25.00 $25.00
Past Due $0.00
Payment Status Current Pays account as agreed Paid or paying as agreed
High Balance $263.00 $263.00
Limit $4,400.00 $4,400.00 $4,400.00
Terms Revolving Minimum
Comments CHARGE

Re: Need advice on Jared/Kay Cards

Anonymous — Mon, 20 Jun 2011 15:11:55 GMT

That's odd mine just shows my balanckie as max

Re: Need advice on Jared/Kay Cards

randaljon — Mon, 20 Jun 2011 18:29:25 GMT

Which CRA is hit with the hard inquiry?

Re: Need advice on Jared/Kay Cards

Anonymous — Mon, 20 Jun 2011 22:25:25 GMT

They pulled eq

Re: Need advice on Jared/Kay Cards

laz98 — Mon, 20 Jun 2011 22:47:22 GMT

mine also shows my credit limit.

Re: Need advice on Jared/Kay Cards

Anonymous — Tue, 21 Jun 2011 12:54:19 GMT

@laz98 wrote:
mine also shows my credit limit.

Same here. Mine reports my CL as $5100, even though the largest balance I've had has been < $200. I got the card to help with my util, and it most certainly has done that!

Re: Need advice on Jared/Kay Cards

mross1080 — Tue, 21 Jun 2011 17:13:09 GMT

Mine shows the limit (the only reason I keep it). Pretty sure they exclusively pull EQ and its as easy of an approval as you can get. They approve in the mid 500's ive read. The CL could be anywhere depending how they feel that day.

Re: Need advice on Jared/Kay Cards

randaljon — Tue, 21 Jun 2011 17:25:16 GMT

My Equifax is 647, TransUnion is 688. But I was denied by Kay Jewlers yesterday when I applied online. I guess I will find out why when I get the letter.

Re: Need advice on Jared/Kay Cards

mross1080 — Tue, 21 Jun 2011 18:20:52 GMT

@randaljon wrote:
My Equifax is 647, TransUnion is 688. But I was denied by Kay Jewlers yesterday when I applied online. I guess I will find out why when I get the letter.

Thats strange to me. Did you call to recon? They may not been able to verify your info and just denied. It cant hurt to call.

Re: Need advice on Jared/Kay Cards

randaljon — Tue, 21 Jun 2011 18:23:31 GMT

recon? You can do that?

Re: Need advice on Jared/Kay Cards

randaljon — Tue, 21 Jun 2011 19:38:39 GMT

Wow I just looked at my equifax credit report, it's missing 80 percent of my accounts, this is after a week of no access to it, I wonder what is going on with equifax, I wonder if this is the reason Kay turned me down. They are not listing any of my installment accounts, zero inquiries, and only 2 of my revolving accounts. They also list an old collection account I settled and got deleted months ago. Weird.

Re: Need advice on Jared/Kay Cards

Anonymous — Wed, 22 Jun 2011 00:30:13 GMT

You should call EQ

Re: Need advice on Jared/Kay Cards

randaljon — Tue, 28 Jun 2011 11:43:58 GMT

I got the rejection letter from Kay yesterday. Reason was "unable to verify identity due to fraud/security alert". I have sent Equifax countless fax and mailings to update my address and delete the fraud alerts. I am able to view my credit report daily due to disputes. One day the address is fixed, next day the address is deleted and old address is back up. I have sent them my updated driver license and soc sec card, utility bill countless times.

I tried to call them and I get some guy that barely speaks english trying to sell me credit monitoring products. He tells me he is unable to view my report.

Anyone have address and identity issues with Equifax and know of a good phone number I can get someone that can help me?

Re: Need advice on Jared/Kay Cards

randaljon — Wed, 29 Jun 2011 22:37:37 GMT

I had to go to the Kay store and verify identity. I was approved for $2800 with my 647 EQ Fico. If EQ was recognizing my AU accounts like TU I would of had a 688 score and maybe gotten a higher limit.