Kay Jewelers is a retail store chain that sells fine jewelry, ornaments, and accessories to its customers. It has retail stores in the United States and many other countries like the United Kingdom and Canada. They provide jewelry items for a couple getting married as well. They also sell other fashion accessories and offer jewelry-related services to their customers. So, What Credit Bureau Does Kay Jewelers Offer?
Kay Jewelers’ credit cards are issued and maintained by Comenity Bank, USA. They handle all activities related to the Kay credit cards on behalf of the jeweler. Comenity Bank typically takes credit reports from Equifax for evaluating applications for new Kay credit cards. They also take reports when evaluating the monthly card activities of customers using the Kay credit cards. It should be noted that they may also pull credit reports from Experian and TransUnion as well if needed.
In this article, we will go through the requirements for a Kay Jewelers credit card. What Credit Bureau Does Kay Jewelers offer? We will also go through the credit card evaluation process. We will mention the pros and cons of Kay credit cards and some alternatives to Kay credit cards. Finally, we will answer some questions asked frequently by customers.
Requirements for Kay Jewelers Credit Cards
The following are the requirements needed for being approved for a Kay Jewelers credit card:
- The applicant must be a resident of the United States.
- The applicant must be at least 18 years of age or older (At least 19 years in the state of Alabama).
- The applicant must have a valid shipping address in the United States. P.O. box addresses are not considered acceptable by Comenity Bank.
- The applicant must provide a valid social security number or ITIN.
- The applicant must provide a valid photo identification authorized by the government.
- The applicant must have at least a fair credit score or higher.
- The applicant must have a positive credit report from the investigating credit bureau.
Applicants who can provide the mentioned documents and meet the requirements are highly likely to get approved for a Kay Jewelers credit card.
How to Apply for a Kay Credit Card
The following are the steps for applying for a credit card with Kay Jewelers:
- Visit the official website for Kay Jewelers which is kay.com.
- Navigate to the get pre qualified option in the upper right corner.
- Next, choose the get qualified option. You will be redirected to the login page for your Kay account.
- Sign up for a Kay account or log in if you already have an existing Kay account.
- After logging in to your Kay account, choose the option for filling the form online. You will be redirected to an online application form.
- Fill out the form carefully.
- Read the terms and conditions before agreeing to them.
- Go through your filled-out form and then submit it.
Applicants can see if they are prequalified in a minute or less. Then they may submit other documents to finish the application. You will be notified about your application status or, you can check the application status at kay.com as well.
Evaluation of Kay Jewelers Credit Card
For evaluating applications for new credit cards, Comenity Bank pulls credit reports and scores from all three major credit bureaus. However, it generally tends to give priority to Equifax. The reports are compiled by considering a lot of factors. Some factors that affect the customer’s credit score and report include but are not limited to: customer’s card usage, spending limit, amount of money in the customer’s account, billing history, dues left, and payment history. After compiling the reports, the data is conveyed back to the bank. After checking for positive reports, and looking at credit scores, applicants who meet their standards are approved for Kay credit cards.
It should be noted that Comenity Bank will report the credit activities of Kay cardholders to TransUnion, Experian, and Equifax each month. They report to the credit bureaus every month after the billing period has ended. This is to keep the credit bureaus in the loop and make sure the cardholders’ credit information stays valid and up to date.
Pros and Cons of Kay Credit Cards
The following are the pros and cons of Kay credit cards:
Pros
- They do not charge interest on purchases made at Kay Jewelers for 12 months after the credit card has been issued.
- They allow online bill paying.
- Several benefits like birthday gifts and anniversary rewards are provided to cardholders.
Cons
- Usable only at Kay stores.
- A comparatively higher rate of interest is levied after the end of the interest-free 12-month period.
- No sign-up rewards or bonuses.
Alternatives to Kay Jewelers Credit Cards
It just may happen that a customer does not want to shop at Kay Jewelers or does not like the terms of service of their credit cards. In such a case, many other credit cards offer similar services and benefits to their customers. The following are some alternatives to Kay credit cards:
- Discover It Secured Credit Card
- Discover It Cash Back Card
- U.S. Bank Visa Platinum Credit Card
- Zales Credit Cards
- Tiffany & Co. Credit Cards
These are some alternatives to the Kay credit card. Customers can find many others by browsing the internet.
Conclusion
The Kay credit card is issued and maintained by Comenity Bank, USA and it conducts hard inquiries on its applicants. They primarily take credit scores and reports from Equifax but may also take reports from Experian and TransUnion if necessary. They do not charge interest from their new cardholders for 12 months which is a good thing. They also offer exclusive benefits to their cardholders. If a customer shops frequently at Kay Jewelers, it is highly recommended to get their credit cards.
FAQs
Q1. What is the credit score requirement for a Kay credit card?
A1. Applicants with scores of 640 or higher can get Kay credit cards. However, applicants with lower scores may also get approved for Kay credit cards.
Q2. Where can I use a Kay credit card?
A2. Kay credit cards are usable at Kay stores exclusively.
