Recon Kay's Decision?

[Seatown1two]

I just app'd for Kays card after reading the forums and was approved for $800.  On the approval page it says 20% down is REQUIRED for every purchase:

Credit Line: $800*

You will be required to provide a 20% down payment for each purchase made using this account

Is this standard for all accounts?  Also how is kays with recons?  Could I possibly get a higher CL?  Lastly, is kays pretty decent with CLI??

[DanielF]

I have a Kay's card with a 3k cl and never have had to put 20% down. Sounds like you just came in under the wire for their credit guidelines and thy offered you this 20% down deal. Your scores seem good enough to get their card. Not sure unless they are tightening their belts.

[tcbofade]

Hmm.  Unless things are changing, they've been very good to me with CLI.

The only time 20% down has been mentioned to me, it was regarding a zero percent financing deal.

I got my Kay card in October of 2009 with a CL of 4K.

Auto CLI October 2010 to 6K.

Auto CLI October 2011 to 7.6K.

[Seatown1two]

Is there a chance to recon the CL?  Anyone had success doing this??

[LS2982]

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@Seatown1two wrote:

Is there a chance to recon the CL?  Anyone had success doing this??

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Try calling them. What bureau did they pull and what state are you from?

[Seatown1two]

Called their credit department and they said I'm on a "starter" account.  There will be an automatic review in 10-12 months to switch over to a regular account.  Also when I asked her if I could use this card at Jared, she said yes and no.  If I apply for a Jared card, will each have it's own CL?  The CSR told me if I was approved for one I should be approved for the other but went on to say if I was approved for the other the CL between the two cards would be shared which didn't make any sense...  Thanks for the help...

[LS2982]

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@Seatown1two wrote:

Called their credit department and they said I'm on a "starter" account.  There will be an automatic review in 10-12 months to switch over to a regular account.  Also when I asked her if I could use this card at Jared, she said yes and no.  If I apply for a Jared card, will each have it's own CL?  The CSR told me if I was approved for one I should be approved for the other but went on to say if I was approved for the other the CL between the two cards would be shared which didn't make any sense...  Thanks for the help...

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Treat it right with on time payments and you'll be good to go!!

Congrats!

[StartingOver10]

When they say "shared" they mean, in your case, $400 for each card.

I made that mistake with Jared's. I had a Jared's  card with a limit of $7600 and applied for a Kay's card. Same lender (Sterlings) - and they split the line in 2: half for Jared's and half for Kay's. Naturally I immediately closed Kay's (told them why) and they restored the full line to Jared's. One thing though - they give a big CLI every yr. Now the line is at $10k and I only have had it 3 yrs.

[Seatown1two]

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@LS2982 wrote:

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@Seatown1two wrote:

Called their credit department and they said I'm on a "starter" account.  There will be an automatic review in 10-12 months to switch over to a regular account.  Also when I asked her if I could use this card at Jared, she said yes and no.  If I apply for a Jared card, will each have it's own CL?  The CSR told me if I was approved for one I should be approved for the other but went on to say if I was approved for the other the CL between the two cards would be shared which didn't make any sense...  Thanks for the help...

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Treat it right with on time payments and you'll be good to go!!

Congrats!

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Thank you!!  Any opinon anyone on which store carries higher quality jewelery?