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Need advice on Jared/Kay Cards

Regular Contributor

Need advice on Jared/Kay Cards

My TransUnion Fico is 688 and Equifax is 637 as of now. But I have 8 inquiries on Equifax and 6 on TransUnion since January mostly due to Credit Building and a few due to Wells Fargo hitting me with 4 inquires for opening Checkin/Savings/Secured Card. 

 

I heard it's not too hard to get approved for Kay/Jared cards and I need one for an upcoming engagment ring purchase. But will the inquiries hurt me? I also have a discharged bankruptcy from 2005 on my reports. Should I apply now or hold off for 6 months? Anyone know what kind of credit limit I could expect? Better to apply in store or online?

 

Thanks.


Starting Scores(Jan/2011): EQ 564 TU 538 EXP 576
Current Score: EQ 692 TU 728 EXP 710 (Quizzle FAKO)Goal Score: 720


Wallet: Grow Visa 500, Capital One MC 2000, Capital One MC 1250, Paypal MC 3000, Jared 10500, Kay 2000, Walmart 2050, TJX Rewards 1200
Message 1 of 18
17 REPLIES 17
Frequent Contributor

Re: Need advice on Jared/Kay Cards

If you apply for Kay or Jared you'd have nine inquiries in six months.  I'd say wait until next june when the inquiries will be a year or more old or be prepared to recon.

Message 2 of 18
Regular Contributor

Re: Need advice on Jared/Kay Cards

I app'ed for the Kays card on 09/11 with 8 inquires (4 from a car loan in 08/11), >60% utility, and a CO from 2006 was instantly approved for $3980 (48k annual income). You will be approved, but its hard to say what CL you will get.....DW got a kays back in 08 and they started her limit at 1550, with a 630 EQ and 50k annual income. I dont know how true this is but i was told by a CS rep that the only way to get your CL manually increased was to go into a store and they could do it.

Message 3 of 18
Member

Re: Need advice on Jared/Kay Cards

Beware they don't report Max limit, they only report what's being usedas Max on reports your utility will be maxed

Starting Score: EQ 578 TU 600
Current Score: EQ 587 TU 636
Goal Score: 700


Take the FICO Fitness Challenge
Message 4 of 18
Senior Contributor

Re: Need advice on Jared/Kay Cards


@jdark1234 wrote:
Beware they don't report Max limit, they only report what's being usedas Max on reports your utility will be maxed


Thats odd, mine shows max limit

sorry about formatting but this is how mine shows:

 

 Experian® Equifax® TransUnion®
 
Account Name KAY JEWELERS KAY JEWELERS KAY JEWELERS

Account Type Charge Account Revolving or Option Revolving account
Balance $69.00 $69.00 $69.00
Date Opened 5/1/2010 5/1/2010 5/9/2010
   
Account Status Open  Open
Mo. Payment $25.00 $25.00 $25.00
Past Due   $0.00
Payment Status Current Pays account as agreed Paid or paying as agreed
High Balance $263.00  $263.00
Limit $4,400.00 $4,400.00 $4,400.00
Terms Revolving  Minimum
Comments  CHARGE

Message 5 of 18
Member

Re: Need advice on Jared/Kay Cards

That's odd mine just shows my balanckie as max

Starting Score: EQ 578 TU 600
Current Score: EQ 587 TU 636
Goal Score: 700


Take the FICO Fitness Challenge
Message 6 of 18
Regular Contributor

Re: Need advice on Jared/Kay Cards

Which CRA is hit with the hard inquiry?


Starting Scores(Jan/2011): EQ 564 TU 538 EXP 576
Current Score: EQ 692 TU 728 EXP 710 (Quizzle FAKO)Goal Score: 720


Wallet: Grow Visa 500, Capital One MC 2000, Capital One MC 1250, Paypal MC 3000, Jared 10500, Kay 2000, Walmart 2050, TJX Rewards 1200
Message 7 of 18
Member

Re: Need advice on Jared/Kay Cards

They pulled eq

Starting Score: EQ 578 TU 600
Current Score: EQ 587 TU 636
Goal Score: 700


Take the FICO Fitness Challenge
Message 8 of 18
Senior Contributor

Re: Need advice on Jared/Kay Cards

mine also shows my credit limit.

Message 9 of 18
Moderator Emeritus

Re: Need advice on Jared/Kay Cards


@laz98 wrote:

mine also shows my credit limit.


Same here. Mine reports my CL as $5100, even though the largest balance I've had has been < $200. I got the card to help with my util, and it most certainly has done that! Smiley Happy


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Message 10 of 18
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