Kay and Jareds

[beanie7132]

Can someone help me?

I have a Kays card. I recently got it a month or two ago, and I am rebuilding. I have yet to use it. However, I noticed today that Jareds sells Pandora and Kay does not. I prefer Jareds just because of the availability of Pandora. I could easily keep that card active if you know what I mean.

I am worried about applying for Jareds. I have read in past posts that the TL is split and that when reporting one may show as maxed out. For example: I have 3K at Kays. If I am approved at Jareds.... I would be 'sharing' the 3K between the two stores. Then lets say I spend 250.00 at Jareds. I am worried that it will show on my credit report as 250/250.... 250 used of a limit of 250.... with Kay reporting as 0/2750....

Can anyone clarify this for me? Anyone with both accounts have any experiences they can share?

Thanks in advance!!!

[Boonie]

They do share limits and a purchase on one account will show as a balance on both accounts.  This is why I closed Kay and only kept Jared open.

[eagles08]

Yeah from what I understand each will show a 3k limit on your report but in reality they would share it. Therefore you'd see 250/3000 and 250/3000. So you're reporting a total of $6,000 CL when in actuality it's only $3,000. I'm pretty sure this is how it works but if I'm wrong someone please correct me!

[beanie7132]

Reading the other threads on this topic here confused me.... I chatted with Kays CSR to see if I was understanding it correctly.

Per them:

If I have 3K now at Kays and I open a Jareds account:

Jareds will show 1500 available on my report. Kay will show 1500 available on my report.

I am able to spend the 3K at either store - but not 3K at both stores without a credit increase.

If I spent 2K at Jareds my report would reflect: Jareds 2000/1500 putting me over the limit.

The cards are not interchangable - I cant use my Kays card at Jareds.

This is just what this ONE CSR explained to me and not personal experience.

Still debating on applying for Jareds..... do I want two 1500 lines, or one 3K line..... If I open Jareds and close Kay how is that looked at by others viewing my report...... I would use Jareds WAY more than Kay...... decisions decisions.

[Boonie]

Yea, but if you spent $3,000 at one of them, I believe they will show a $3,000 balance on a $1,500 limit, appearing to have gone over your credit limit and hurting your credit score.