Shane Co, Kay Jewelers, Jared, etc... credit requirements?

[Anonymous]

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@Anonymous wrote:

It's getting closer and closer to the time for me to buy an engagement ring. I have been putting it off for a while saying things like "as soon as I've paid off my debt I'll do it" or "I don't want to go further into debt" etc. Now that I have everything paid off and we've looked at rings it has me thinking about financing. I'm looking at somewhere in the neighborhood of a $2500-$4000 purchase price and I have over $1500 to put down on it at the moment (should have another $1500 within a month or two).

It looks like Shane Co uses Wells Fargo but I'm not sure who some of the big name jewelers use. With 3 CO's on my credit report (which should all be reporting $0 balances any day now) and no other tradelines at the moment do I have a snowballs chance in you know where on getting an approval anywhere? Has anyone in the high 500's or low 600's had any luck recently? I can't find any recent threads with much information.

I mentioned in another thread that my CU has a credit builder loan of up to $1500 and you repay the money into a savings account which you have access to after 12 months so that is yet another option as I don't need that $1500 for anything at all, just the FICO building that comes along with it.

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Kay Jewlers (Sterling Bank) approved me with an EQ Fico of 618, 1 CO with 0 bal reporting and only 1 small revolving charge, no lates, reporting.

CB

[Anonymous]

i applied exactly 11/2008.... with a 2000 cl

on 12/09 i requested a cli....soft pull... and i was approved for 1300 more...bringing my limit to 3300

i had made a purchase 3 months after i applied for about 1000.... 12 months no intrest...

made every payment on time and actually paid extra...

only had about 100 on card at time of requesting cli

[Anonymous]

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@Anonymous wrote:

I have to disagree with WD about the quality of diamonds

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Do you mean, Watchmann?  I wasn't talking about diamond quality.  Only that Jared is usually cheaper (rings I've seen, about $100 less).

That said, I do agree about real diamonds.  Not saying that a fake couldn't be visually the same, I'm sure it very well could be.  But in a way, the ring could be looked at as sort of an investment.  I highly doubt the value of a fake would ever go up...if anything, quite the opposite.

Whereas, there will always be some value in real diamonds (i.e. if she ever want to upgrade or to leave the ring to children).

[Anonymous]

Great info everyone! When the time comes I'll let you know what I'm approved for and what my FICO is at that time; oh, and I guess I can let you all know if she says yes too

[Breakthecycle2]

Has anyone gotten this response when applying online..."There is a system error, cannot be processed?" I get this on Jareds and kays all the time, yet I show soft pulls on my credit report.

[Anonymous]

Sorry, WD, I meant Watchmann. My bad.