Kay Jewelers cut my credit limit!

Where you can talk about store credit cards, like gas station cards, department store cards, etc.
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paparoach429
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Kay Jewelers cut my credit limit!

Postby paparoach429 » Mon Oct 22, 2012 1:55 am

I thought there was already a thread on this but I cant seem to find it. I looked at my credit report today and noticed that my Kay and J.B Robinson cards limits have been cut from $300 to $150. I dont really care since I dont use these cards. Quite frankly i should have never applied for these cards but I had intentions of buying a watch from there before I noticed Amazon and Overstock.com have stuff like that much cheaper.. Anyways has anybody else had this "shadiness" happen to them?


DavidNY
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Postby DavidNY » Mon Oct 22, 2012 2:15 pm

Apparently those two cards are from the same "family".

Kays and Jared approved with one credit pull - CreditBoards

Beware Jared and Kay Jewelers! - CreditBoards

Go online or come to the NYC diamond district with cash (after reading this) and you'll get a much better deal than any mall outlet will have.

namvet
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Postby namvet » Mon Oct 22, 2012 5:12 pm

My guess is that your lack of activity on the cards caused the CLD.

paparoach429
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Postby paparoach429 » Tue Oct 23, 2012 2:32 am

Im sure it was definitally that. I dont need the cards since any watches or anything I planned on buying there I found cheaper places for.. Anyways do you think they will leave my limit there or completely close the card in time? If they close the card does it hurt your credit score as bad as if you close it on your own, if at all?

namvet
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Postby namvet » Tue Oct 23, 2012 12:41 pm

Yes i think your cards will be closed if you don't use them. Who closed the cards doesn't make any difference. If it were me i would go ahead and call and close the cards.

paparoach429
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Postby paparoach429 » Thu Oct 25, 2012 11:45 pm

So I went into the Kay store today to inquire about my cut credit limit and the manager said she never heard of such a thing. She called the bank or whoever they deal with and they said my credit limit actually increased! i opened the card with 300 credit limit and she said I now have 360. Also she said they almost ALWAYS do increases, especially if i was to buy something right there and then. She said the person on the phone told her for some odd reason when people check their credit limits they report differently then what they really are.. Something seems shady!

DavidNY
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Postby DavidNY » Fri Oct 26, 2012 1:48 pm

We're talking about toy credit lines for an overpriced jewelry chain store here. Forget about those shysters.

Money card
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Postby Money card » Sat Nov 03, 2012 9:15 pm

Paparoach you should think about it this way. first of all do you have a major credit card? assuming you do , I don't go to kay Jewlers so I don't know the prices. the post I think your thinking of is the zales post. since you have intentions on buying jewlery you could use 1 of your credit cards. if this is like zales , Torneou , tous theres no sense in keeping this card open if this is a very expensive store.
but if this kay jewler has a visa or master card logo on the card I would then say yes keep the card open. Now if you asked us about a Lord&Taylor card this would be a different situation. I guess it depends on how you find the store. that would determine on whether you should keep the card open.



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