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Kay Jewlers - Showing balance but not counting toward Utilization

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pritchardhallhokie
Frequent Contributor

Kay Jewlers - Showing balance but not counting toward Utilization

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!!!!


Starting Score: 584TU / 580EQ
Current Score: 670 TU / 680EQ
Goal Score: 720 TU / 720 EQ


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Message 1 of 6
5 REPLIES 5
GoodCredBen
Valued Contributor

Re: Kay Jewlers - Showing balance but not counting toward Utilization

Does it even report to your CR?

My credit journey has completed. I am currently sitting at 800+ across the board.

I started my journey here years ago, and thanks to MyFico, it really is possible.
Message 2 of 6
pritchardhallhokie
Frequent Contributor

Re: Kay Jewlers - Showing balance but not counting toward Utilization

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....


Starting Score: 584TU / 580EQ
Current Score: 670 TU / 680EQ
Goal Score: 720 TU / 720 EQ


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Message 3 of 6
john398
Senior Contributor

Re: Kay Jewlers - Showing balance but not counting toward Utilization

Are  you saying your credit limit is not reporting?

Message 4 of 6
pritchardhallhokie
Frequent Contributor

Re: Kay Jewlers - Showing balance but not counting toward Utilization

No, the balance is reporting, it just doesn't count as utilization.


Starting Score: 584TU / 580EQ
Current Score: 670 TU / 680EQ
Goal Score: 720 TU / 720 EQ


Take the FICO Fitness Challenge
Message 5 of 6
john398
Senior Contributor

Re: Kay Jewlers - Showing balance but not counting toward 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?

Message 6 of 6
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