Approved for Jared and Kay!

[Anonymous]

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@Anonymous wrote:

My question on the shared limit is does anyone know how this reports? Does it report as two limits on two cards or does it just report as Sterling Jewelers (their parent company) with one account / limit? 

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It reports as two accounts. One Jared and one Kay.

I went through this mysef, I applied for Jared and was approved for $4700. 

a few weeks later I appd for Kay and was approved for $4700 (or so i thought..different account numbers two different credit cards)

and it shows up on my reports as a $4700 limit split between the two....

Id have rather kept the single jared account for 4700 as that looks a little stronger. 

Anyhow, its strange but it is what it is.

[Anonymous]

I learned just why they do this and it's definitely to benefit Sterling Jewelers. They combine the limits (I have a Kay and Jared card) BUT they don't combine the PAYMENTS. Therefore since I have balances (of which they pulled from my Jared limit to Kay from a recent purchase) on BOTH cards the total I pay per month (on that COMBINED limits purchase) is $215. a month ($110 to Jared and $105 to Kay). Whereas the Kay store rep SWORE to me that because the LIMITS were combined - they would combine the PAYMENT as well is I used my Kay card. OUTRIGHT LIE. After speaking with Sterling Jewelers, they informed me NO the payments will NEVER be combined. At first she scoffed at me when I stated that I see why they are doing this, 2 separate payment amounts equals more interest charged. If the accounts were combined - and THE REP HERSELF confirmed this - I'd be paying $170. a month. $45. LESS which definitely adds up. So now the goal is paying off or moving these balances to another card altogether given Sterling Jewelers ridiculous policy. The reps only offer of "help" was to pay MORE money, an extra $113 now and then have a $125. Payment for 12 months to save on the interest that exists on the Kay's card. Otherwise she could care less and made it known. Even told me to go ahead and call a lawyer. Lovely company.

[Anonymous]

Oh and yes - I have pulled my credit bureau reports - they DO report separately. I have a Kay's AND a Jared listing on my reports where there, interestingly, they actually separate that "combined" limit.

[RonM21]

Congrats

[grillandwinemaster]

I think there a great company! I only have Kay's, which has grown to a 6k limit. I knew about the combined Jared\Kay's thing at the time and I chose NOT to apply for Jared's. In retrospect, this was a mistake because had I apped for Jared's, it would have been an automatic approval, and I would now have TWO seasoned trade lines, both growing and aging together! 

Come on folks! These are rebuilding cards! They serve there purpose, which is to help you get better and bigger cards down the road. This they WILL do! So enjoy your trade lines!

Oh, and congrats to OP!