LOC reported like CC to the CRAs?

[improvingmycredit]

Hey FICOites!  How are LOC's treated with regards to reporting to the CRAs?  Are they treated like credit cards (revolvers)?  Thanks!

[anderl]

Yes.

[pizzadude]

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@improvingmycredit wrote:

Hey FICOites!  How are LOC's treated with regards to reporting to the CRAs?  Are they treated like credit cards (revolvers)?  Thanks!

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Many times, yes they are lumped in with revolving credit, but not always. You need to look on your credit reports to know for certain how this account is categorized.

[MarineVietVet]

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@improvingmycredit wrote:

Hey FICOites!  How are LOC's treated with regards to reporting to the CRAs?  Are they treated like credit cards (revolvers)?  Thanks!

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Up to a certain CL they are scored as revolving but members report that for higher CL's (I've seen as low as $35,000 or so) LOC's are looked at as installment loans. It seems there is no way to be sure until you check your reports.

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[improvingmycredit]

Thanks for the great feedback. My CU offered me a LOC for my accounts and didn't know if I wanted it or not.

[Anonymous]

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@improvingmycredit wrote:
Thanks for the great feedback. My CU offered me a LOC for my accounts and didn't know if I wanted it or not.

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Nice! Which CU is that if you don't mind sharing 

[improvingmycredit]

Hey Fusioncredit... I don't mind sharing at all.  I have been with Army Aviation Center Federal Credit Union (AACFCU) for some years now.  Been very good with all my lending needs and gave me a chance with real limits when others wouldn't.  I really like banking with this CU. 

[Anonymous]

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@improvingmycredit wrote:

Hey Fusioncredit... I don't mind sharing at all.  I have been with Army Aviation Center Federal Credit Union (AACFCU) for some years now.  Been very good with all my lending needs and gave me a chance with real limits when others wouldn't.  I really like banking with this CU. 

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Thanks! and It's good they are treating you great...how much LOC did they offer you?

[improvingmycredit]

It was more of an open ended question.  I have refinanced my auto through them and while they already pulled my EQ file, asked if I wanted to tack on a LOC or up my MC limit with them.  I took the MC CLI... went from $6000 to $10000.  Was told I could ask for up to $25000 with out having to go to the VP's desk.  I guest thinking about it now, I should have just asked for the $25000.  I feel pretty certain that it would have been approved.   

[Anonymous]

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@improvingmycredit wrote:

It was more of an open ended question.  I have refinanced my auto through them and while they already pulled my EQ file, asked if I wanted to tack on a LOC or up my MC limit with them.  I took the MC CLI... went from $6000 to $10000.  Was told I could ask for up to $25000 with out having to go to the VP's desk.  I guest thinking about it now, I should have just asked for the $25000.  I feel pretty certain that it would have been approved.   

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What you didn't take up on their offer!