getting a new credit card

[Anonymous]

Pulled TU fico today and its up 3 more points to 625.  I'm thinking I have a few accounts turning one year old this month.  Just another update.. thanks again...

Michelle

[Anonymous]

You do not have to use the Kay card for it to report.

[Anonymous]

Yes, I just started working on my utilization not long ago.  I didn't plan on using kays, jareds, or jb robinson unless you absolutely have to buy something in order for them to report.  I got my kays card in the mail yesterday.  When I initially applied for it, it said I was approved for $500 and when I called to find out my credit line it said it was $1500.  Will each card (kays, jareds, and jb robinson) report a $1500 credit line or will each card report a $500 credit line on my credit reports?  Thanks for the info, this forum is great.  Not only do you find great information here, but you also get great advice along with alot of encouragement.  I couldn't do it without ya guys/gals.  Thanks a million...

Michelle

[Anonymous]

Each line will report $1500, even though they share the same line.

You don't have to use it for them to report, as Timothy said, but they will close it after a while if you never use it at all.

[Anonymous]

Thanks so much for the info.  So $500 credit line x3 cards =$1500 total credit line that will report 3 different times for the 3 different cards, so I can add another $4500 to my available revolving credit line?  I hope this is the case, because it will do wonders for my current utilization and maybe give me a huge score jump.  Sorry, I'm not trying to repeat the answer, just trying to grasp that this is really possible...Thanks again...

Michelle

[Anonymous]

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mshard1 wrote:

Thanks so much for the info.  So $500 credit line x3 cards =$1500 total credit line that will report 3 different times for the 3 different cards, so I can add another $4500 to my available revolving credit line?  I hope this is the case, because it will do wonders for my current utilization and maybe give me a huge score jump.  Sorry, I'm not trying to repeat the answer, just trying to grasp that this is really possible...Thanks again...

Michelle

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Yep.  You got it.  I would ask twice, too.  Seems almost too good to be true.

Edit: Actually one point is not quite accurate.  It's not $500 x 3 cards.  You actually have a $1500 line with each of them, but they share that line.  So you can charge $1100 at Kay Jewelers, for example, and then you'll only have $400 left to spend at Robinson, for example.  You're not limited to $500 at each one.

Message Edited by cheddar on 04-04-2008 10:48 PM

[Anonymous]

Ok, Ok, thanks so much for such a quick response.  Now just gotta wait for them puppies to start reporting and I hope its soon.  I can't wait to see if my score jumps for the sky.  Of, course I will charge something small on them every 3-6 months and PIF too.  I hope this will keep them happy enough to keep my lines open.  Also, I think I seen on here somewhere that you can get a cli around the 9th or 10th month of opening them, so I will have to mark my calendar.  Does anybody know of any other almost too good to be true deals?  It never hurts to ask....lol  Oh, one more thing, I know that Sterling owns these cards (kays, jareds, and jb robinson) and they also have other cards, ex. osterman, but when I go to their website, I haven't been able to find a place to apply online.  Am I missing something or do they not offer to apply online?  If you can't apply online, how would you apply if you didn't have them other stores near you?  Again, thanks....

Michelle

[Anonymous]

I don't know the answers to most of those questions, but I can answer the CLI question.

I got my Kay card in November 07.  I had the card less than a week when I charged a portion of my DF's engagement ring, asked for a CLI at that time, and was told the account would need to be open 10 months before I would be eligible, which wold not be until September 08.

Paid off the ring in full by February, even though I had 0% for 12 months.  (It was killing my util.)

Called again asking for a CLI in March, hoping my speedy payment would accelerate the process.  I was told at that time that I would be eligible for CLI in May, so they did move it up 4 months from when they first said I could get one, even though they wouldn't give one to me right away.

[Anonymous]

Michelle, I got the Kay card and have not used it. It reported on my CR before I received the card.It also upped my pts by 34, cause I did not have any revolving.