topic Re: CL decrease, a week after approval? in Credit Cards

CL decrease, a week after approval?

jcstarkey8826 — Tue, 04 Sep 2012 13:58:20 GMT

I applied for a Kay Jewelers card to help with my engagement ring and help my CLs. In the store I was approved for 4100 (about a week ago) but today when I check my account to make a payment, it says available credit it $505 and balance is $2495, meaning they dropped the CL to 3k right??? Just a little confused, but I guess they approved me for 4100, but when I only spent 2500 on the card and the rest in cash they dropped the limit.

Will they keep dropping it as I pay the balance off? I wanted this to report a nice limit, and use for holidays, bdays, anniversary, etc.

Re: CL decrease, a week after approval?

jsickz32 — Tue, 04 Sep 2012 14:04:08 GMT

This same happened to me i was told at the store 6200 but when i registered my card online said 5600 online. When i went back to the store to return the ring i had bought i asked how much was my limit and explained this to them and was told i can spend UP to 6200 if needed.

Re: CL decrease, a week after approval?

Razeus — Tue, 04 Sep 2012 14:04:31 GMT

They do this to help you out with the sale.

I got approved for a Jared's card Dec. 2011 to help me pay for an engagement ring for my wife. I got approved for $2000 with 0% for a year, and I paid the rest cash. Shortly afterwards a couple of payments were made and I noticed my credit account said my limit was $1500.

This is the main reason I put their card out to pasture this month. Thanks for the help, but that's not how I like to do business.

Re: CL decrease, a week after approval?

jcstarkey8826 — Tue, 04 Sep 2012 14:09:33 GMT

I figured that was the reason, hoping I'd spend more in the store, which I did... just not on their card. Oh well, it served its purpose and got me 0% on $2500 for a year. As long as it doesnt drop below my other CLs i'll keep it for a bit. Not complaining, just curious about it

Re: CL decrease, a week after approval?

gettnthere — Tue, 04 Sep 2012 14:13:30 GMT

Man i wouldn't even sweat it. KAYS is a joke and their CS is absolutely horrible and the CSR's are totally uninformed. I had a problem a couple months back and spent like 2 hours on hold and when i finally got someone on the line i requested to speak to a supervisor and they said they don't speak to customers lol trust me you aren't missing out on anything.

Re: CL decrease, a week after approval?

jcstarkey8826 — Tue, 04 Sep 2012 15:09:44 GMT

well, I got the card. It was fine, I just hope they dont drop the CL too low! lol

The customer service has been very nice. The salesperson actually "guilted" me into buying a bear for charity. I quote the guilt, because thats what he tried to do, but I donate on a regular basis and like to support them when I can. He told me he knocked $800 off the ring, and being that he saved me "so much" money, he asked that I buy a bear. I did, but when I checked the sku online, I noticed he charged me the advertised price... to the penny.

I called customer service to complain, and they gave me a nice discount and the store rep called me to say he is puting a $188 check in the mail for me. Probably his commision or something? weird number

Re: CL decrease, a week after approval?

Anonymous — Wed, 05 Sep 2012 15:00:43 GMT

@Razeus wrote:
They do this to help you out with the sale.

I got approved for a Jared's card Dec. 2011 to help me pay for an engagement ring for my wife. I got approved for $2000 with 0% for a year, and I paid the rest cash. Shortly afterwards a couple of payments were made and I noticed my credit account said my limit was $1500.

This is the main reason I put their card out to pasture this month. Thanks for the help, but that's not how I like to do business.

I had the exact opposite experience. I was approved for 5k a couple years ago and with mediocre credit I logged into my account like 6 months later and it was up to 7400. *shrugs*

Re: CL decrease, a week after approval?

jcstarkey8826 — Wed, 05 Sep 2012 15:12:59 GMT

well I hear that they are good about CLIs so I understand 6 months later getting an increase. Just confused about a decrease 3 days after.

Re: CL decrease, a week after approval?

Anonymous — Wed, 05 Sep 2012 16:27:49 GMT

It is not a decrease. The store limit is more than your actual limit. The store allows you to go over your limit by a set amount without penalty for tax and service plans. The limit on line is your actual limit. I just got my Jared account two weeks ago and the rep explained this to me when opening my account. on line my account limit is different by a couple hundred bucks because my limit is low. If you want to use the amount the store gave you on an online order just go to the store and have them place the order for you and have it shipped to the store, No problems.

Re: CL decrease, a week after approval?

jcstarkey8826 — Wed, 05 Sep 2012 16:40:45 GMT

ok, I just applied for the card in the store and was told I was approved for 4100, no explanation so I just thought they decreased it.

So if I wouldve put 4k on that card they wouldve put my util over 100%... tisk tisk, good thing I paid half.

Thanks for clearing that up.