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Good Morning All.
I have a kay card that has a limit of 4000 and a balance of 3000. This was a promo deal where you make a purchase of more than 500 bucks and get zero % interest for a year and you have to pay it off in a year. The payments are like a loan, always the same and you have to pay off the balance in 12 months, you can't treat it like a credit card.
My question is, this is a line of credit, right now I could go in and make another purchase on the line of credit, BUT, the balance isn't showing up as a contributor toward my utilization. My credit cards = the exact balance of my uti % on myfico, does anyone have any experience with this? I mean, it's GREAT if it doesn't count toward uti, but I thought it would.
THANKS!!!!
Does it even report to your CR?
Yeah, it's on there, reporting the balance as of November... but the balance is the entire amount. Doesn't show payment history, just the original loan amount. Maybe it hasn't started reporting as a revolving balance yet? Weird, I got the ring in August....
Are you saying your credit limit is not reporting?
No, the balance is reporting, it just doesn't count as utilization.
I was not asking if the balance is reporting, sometimes kay does not send the credit limit so it woulkd be treated like a card with no limit, are you seeing your credit limit from Kay?