08-21-2012 12:50 PM
What is LOC?
08-21-2012 12:57 PM
What is LOC?
LOC = Line of Credit
In the case being asked about here, they are referring to the LOC attached to an online checking account (for overdraft protection) from ING Direct, FSB (now wholly owned by Capital One).
The LOC on my account does not show on any credit report so far.
08-23-2012 10:12 PM
I have had a $1,000 Overdraft Line of Credit on my ING Electric Orange account for several years now and can confirm that it does not report. This OLOC comes up from time to time on here and at one point someone had received a fun response from ING on the subject, something along the lines of ING reports OLOC's over $1000 to the bureaus, but does not issues OLOC's over $1000, or some such nonsense.
Bottom line, no, it won't report... at least not until you mess up something and don't pay it back within the allotted timeframe (7 days? 14 days? I forget.)
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