topic Re: Recon Kay's Decision? in Credit Cards

Recon Kay's Decision?

Seatown1two — Fri, 27 Jan 2012 08:37:42 GMT

I just app'd for Kays card after reading the forums and was approved for $800. On the approval page it says 20% down is REQUIRED for every purchase:

Credit Line: $800*

You will be required to provide a 20% down payment for each purchase made using this account

Is this standard for all accounts? Also how is kays with recons? Could I possibly get a higher CL? Lastly, is kays pretty decent with CLI??

Re: Recon Kay's Decision?

DanielF — Fri, 27 Jan 2012 14:51:03 GMT

I have a Kay's card with a 3k cl and never have had to put 20% down. Sounds like you just came in under the wire for their credit guidelines and thy offered you this 20% down deal. Your scores seem good enough to get their card. Not sure unless they are tightening their belts.

Re: Recon Kay's Decision?

tcbofade — Fri, 27 Jan 2012 15:08:15 GMT

Hmm. Unless things are changing, they've been very good to me with CLI.

The only time 20% down has been mentioned to me, it was regarding a zero percent financing deal.

I got my Kay card in October of 2009 with a CL of 4K.

Auto CLI October 2010 to 6K.

Auto CLI October 2011 to 7.6K.

Re: Recon Kay's Decision?

Seatown1two — Fri, 27 Jan 2012 22:18:27 GMT

Is there a chance to recon the CL? Anyone had success doing this??

Re: Recon Kay's Decision?

LS2982 — Fri, 27 Jan 2012 22:40:34 GMT

@Seatown1two wrote:
Is there a chance to recon the CL? Anyone had success doing this??

Try calling them. What bureau did they pull and what state are you from?

Re: Recon Kay's Decision?

Seatown1two — Fri, 27 Jan 2012 22:41:26 GMT

Called their credit department and they said I'm on a "starter" account. There will be an automatic review in 10-12 months to switch over to a regular account. Also when I asked her if I could use this card at Jared, she said yes and no. If I apply for a Jared card, will each have it's own CL? The CSR told me if I was approved for one I should be approved for the other but went on to say if I was approved for the other the CL between the two cards would be shared which didn't make any sense... Thanks for the help...

Re: Recon Kay's Decision?

LS2982 — Fri, 27 Jan 2012 22:45:44 GMT

@Seatown1two wrote:
Called their credit department and they said I'm on a "starter" account. There will be an automatic review in 10-12 months to switch over to a regular account. Also when I asked her if I could use this card at Jared, she said yes and no. If I apply for a Jared card, will each have it's own CL? The CSR told me if I was approved for one I should be approved for the other but went on to say if I was approved for the other the CL between the two cards would be shared which didn't make any sense... Thanks for the help...

Treat it right with on time payments and you'll be good to go!!

Congrats!

Re: Recon Kay's Decision?

StartingOver10 — Fri, 27 Jan 2012 22:45:47 GMT

When they say "shared" they mean, in your case, $400 for each card.

I made that mistake with Jared's. I had a Jared's card with a limit of $7600 and applied for a Kay's card. Same lender (Sterlings) - and they split the line in 2: half for Jared's and half for Kay's. Naturally I immediately closed Kay's (told them why) and they restored the full line to Jared's. One thing though - they give a big CLI every yr. Now the line is at $10k and I only have had it 3 yrs.

Re: Recon Kay's Decision?

Seatown1two — Fri, 27 Jan 2012 22:53:46 GMT

@LS2982 wrote:
@Seatown1two wrote:
Called their credit department and they said I'm on a "starter" account. There will be an automatic review in 10-12 months to switch over to a regular account. Also when I asked her if I could use this card at Jared, she said yes and no. If I apply for a Jared card, will each have it's own CL? The CSR told me if I was approved for one I should be approved for the other but went on to say if I was approved for the other the CL between the two cards would be shared which didn't make any sense... Thanks for the help...
Treat it right with on time payments and you'll be good to go!!

Congrats!

Thank you!! Any opinon anyone on which store carries higher quality jewelery?