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Established Contributor
Posts: 545
Registered: ‎03-20-2009
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LOC question (NAVChek and others)

I know the NAVChek LOC reports on your CR, but do all LOC report?  I have a LOC with a local CU and was wondering if it would report.  They call it a LOC (not just an overdraft protection). 
Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
Current (7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)



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Re: LOC question (NAVChek and others)

You'll need to ask your CU if they report. Small CU's are sometimes squirrelly about if they report, and to whom.

If the CL of a line of credit is somewhere around $30K or less (seems to vary by the credit bureau), it will report as revolving and either help or hurt your util, depending on whether you ever use it. If it's say $40K or more, I don't think it will be included in your revolving. It will show on your report, though, reporting any balance.

High-CL lines of credit, including home equity lines of credit, can be a handy way to hide balances from the scoring formula. Of course, there's that pesky interest to pay and all. :smileywink:
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Established Contributor
Posts: 545
Registered: ‎03-20-2009
0

Re: LOC question (NAVChek and others)

I guess I'll just check my report and see.  They had already pulled my CR 2 weeks ago for CC product and I decided to see if they could use the same report for LOC & they said sure no problem.  (nice change from NFCU which has put 4 hard inq on my EQ in the last couple months)  The CL won't be anything near as high as you mention.  I'm not sure they offer it that high.  Its a smallish local CU.  (although one of the bigger ones in the area)  The LOC is truly meant as overdraft protection I think.
Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
Current (7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)



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