promotion reported

northernstar007

hi all can anyone advise
ive took out a new card on 0% balance transfer, its now showing up on credit file
its also showing up as not a promotion on the credit file but it for sure 0% as ive double checked on statement till end of dec25
i dont have any intensions of taking anymore credit in the next 12months so should i report this to the lender thats its not the correct info and needs to be changed as a promotion on the file

sammyjammy

not sure what you mean?  Credits cards just show as credit cards, there is nothing to say what promotion/APR is applied.

northernstar007

there is a section on each creditcard acc saying if its a promtion or not and on this entry its saying its not a promotion , which it is a promotion on 0%

Nasqueron

Lender can report the card as they want. Have you done a balance transfer and have you checked other agencies to see what they say?

sammyjammy

northernstar007 said:

there is a section on each credit card acc saying if its a promotion or not and on this entry its saying its not a promotion , which it is a promotion on 0%

My apologies, just checked mine, never noticed that before.  Not sure what purpose it serves anyway.  You know you aren't going to use it for spending but they don't.

voluted

sammyjammy said:

northernstar007 said:

there is a section on each credit card acc saying if its a promotion or not and on this entry its saying its not a promotion , which it is a promotion on 0%

My apologies, just checked mine, never noticed that before.  Not sure what purpose it serves anyway.  You know you aren't going to use it for spending but they don't.

It provides helpful context for anyone searching your file.

Paying off nearly the bare minimum on a credit card is not a good sign. It's an entirely different kettle of fish if they're on a promotional rate which is typically (except in a few cases) going to be a 0% deal.

In some respects you're right. If someone is on a 0% deal then unless they are spending on the card the amount paid every month will exactly match the amount the balance decreases every month. I suppose some people do spend on them though so it will identify those people as being on 0% when the raw data might otherwise not reflect this.