Interest rates on credit reports

natscat84

Just wondering, since I can't remember from the last time I accessed my credit report - does it report what interest rate you have on what debt?

Since I have a student overdraft of £1400 at 0% for the next few years, I've been withdrawing that amount and popping it in my savings which means it's making me money. However, if I wanted to apply for something, would they see that that's what I'm doing (ie, looking at someone using a 0% overdraft as a stooze) or not at all?

stephane_2

They would not see interest on your report however they will see that overdraft is used regularly which can have an impact on getting credit.

chattychappy

OK you're talking about overdrafts. But for credit cards they cannot see the rate, though they can see if there is a promotional offer being applied.

Presumably it is not seen as such a bad thing if you are running a high balance if you are taking advantage of a promo rate. (Or it could be the other way around - you might be in trouble when the promo rate ends whereas there is no risk of that if you are managing the debt on a non-promo rate.)

chris-j

Depends on bank, some banks don't report how much of an overdraft being used although they may show what is available.