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Kay/Jared Sterling Jewelers auto CLI

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Established Contributor

Kay/Jared Sterling Jewelers auto CLI

Got two letters in the mail (Jared & Kay) informing me that they've bumped me up to $5800 from 4k. My accounts are less than 11 months old. This will help lower my overall util that reports from one account, increase my available credit, and increase my FICO scores accordingly.

I've read posts here where members receive CLIs after paying off their financed purchases. I did pay off my accounts at the beginning of April before the statements cut. This is pretty cool. Makes me want to charge another purchase and pay it off, just to see how fast I can get another one. Regardless, I'm happy to have the CLI.

Question. Should I close one of the jewelry accounts, so I can have the entire 5800 reporting on one account instead of divided between two accounts?

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15 REPLIES 15
Valued Contributor

Re: Kay/Jared Sterling Jewelers auto CLI

Congratulations!! I don't understand what you mean about the $5800 being divided between 2 accounts, but I wouldn't close anything unless there is an annual fee or you no longer have use for the account.

Message 2 of 16
Super Contributor

Re: Kay/Jared Sterling Jewelers auto CLI

Congrats 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 3 of 16
Super Contributor

Re: Kay/Jared Sterling Jewelers auto CLI

Congrats



EX08 658 EQ08 664 TU08 672 Total Credit Line: 63,550Utilization: 19.4%Inquiries: EQ8 EX11 TU11
Message 4 of 16
Valued Contributor

Re: Kay/Jared Sterling Jewelers auto CLI

Congrats
                               

Total Credit: $240,100Credit Utilization: 1%AAoA: 5 years, 7 monthsInstallments: Car Lease, Marcus LoanNegatives: 0

LOWES-35k | BOA-32.5k | AMEX-30k | DISC-27.1k | ALLIANT-25k | NFCU-25k | BARC-15k | BBUY-12k | CHASE-10k | WAL-10k | CITI-9.7k | PENFED-9.7k


Message 5 of 16
Established Contributor

Re: Kay/Jared Sterling Jewelers auto CLI

Thank you all!

JustMe3: a week or two ago I called Synchrony CS & got my Walmart increased to 3500 from 900. I just got the letter in the mail yesterday. TU score at that time was 657. I barely made the cut. Yikes.

The jewelry accounts are serviced by Sterling Jewelers. Any limit I have is divided evenly (mostly) between the number of jewelry accounts you have with them. I didn't know this back when I opened the accounts. So each account will now report a 2900 limit with the CRAs. Closing an account won't cause a change to my overall limits and util. Closing one of the accounts will simply close the one account, and the other account will begin reporting a 5800 limit.

That's what I was asking about. Does anyone see anything materially adverse if I close one account? Kay Jewelers next statement cuts next Wednesday. I could close Jared now and have Kay report the 5800 limit on Wednesday.

3B profile optimization in progress...
Message 6 of 16
Valued Contributor

Re: Kay/Jared Sterling Jewelers auto CLI

Congrats on the Walmart increase - that awesome!! Now that you've explained the jewelry accounts, I would close one and and have the higher CL reporting on just one account.

Message 7 of 16
Established Contributor

Re: Kay/Jared Sterling Jewelers auto CLI

Thank you. I will call in the morning, and again Monday if they're closed on Sundays. Also, the final revolving account reported the PIF balance. Me and DW are buying a new construction house and even though we have our mtg solution in place, the sales office requires us to get pre approved with the builder's preferred lender just to buy a house at all. That lender agreed to hold off on pulling credit until the 10th. That's my magical day to know the final TL reported, and also a free way to get our updated mtg scores. Hehehe.

I'll pull my own credit during the week to update my 8 series scores in my signature. (=

3B profile optimization in progress...
Message 8 of 16
Valued Member

Re: Kay/Jared Sterling Jewelers auto CLI

Congrats on the increases!

 

I got my auto CLI on my Kay's card a few months ago from $5k to $7k. I've recently opened a Jared account and started at $5.1k. I know that Kay and Jared are the same company and that Kay uses their own private credit (or used to). Is Jared utilizing the same credit company?

Message 9 of 16
Established Contributor

Re: Kay/Jared Sterling Jewelers auto CLI

Yes, Sterling Jewelers. The return address on both Kay & Jared's statements is the same.

3B profile optimization in progress...
Message 10 of 16
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