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Took a hit of a few points for new accounts, of interest: My checking account overdraft protection of $500 reported and my PLOC reported (10K) and both hit under revolving which was a surprise on the PLOC since I thought it was an installment loan. Granted, I have not utilized it as of yet, but still surprised never the less.
Also, the CC has not reported at all. So likely a few more points deduction coming my way.
Any one else have it report this way? Is this normal on the overdraft and PLOC?
Info sharing greatly appreciated!
Thanks!
PLOC almost always report as revolving. It is not just Penfed reporting. There are some exceptions, but they are mostly for large limit HELOCs.
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |
My PLOC with BECU reports as revolving. It's normal.
Yup to confirm it's normal, and I have a Penfed PLOC for reference.
Revolving / Line of Credit.
Status as of Mar, 2016
Date opened Aug, 2015
Loan type Line of Credit
Credit limit $20,000
Largest past balance $0
Account Type Revolving
Account holder Individual
Industry Credit Unions
@Revelate wrote:Yup to confirm it's normal, and I have a Penfed PLOC for reference.
Revolving / Line of Credit.
Status as of Mar, 2016
Date opened Aug, 2015
Loan type Line of Credit
Credit limit $20,000
Largest past balance $0
Account Type Revolving
Account holder Individual
Industry Credit Unions
It's reporting for me as revolving.
What I can't figure out is the date of the balance reporting.
It's not the statement date, like it is for credit cards.
@SouthJamaica wrote:
@Revelate wrote:Yup to confirm it's normal, and I have a Penfed PLOC for reference.
Revolving / Line of Credit.
Status as of Mar, 2016
Date opened Aug, 2015
Loan type Line of Credit
Credit limit $20,000
Largest past balance $0
Account Type Revolving
Account holder Individual
Industry Credit Unions
It's reporting for me as revolving.
What I can't figure out is the date of the balance reporting.
It's not the statement date, like it is for credit cards.
It's the balance at the end of the month.
@manyquestions wrote:
@SouthJamaica wrote:
@Revelate wrote:Yup to confirm it's normal, and I have a Penfed PLOC for reference.
Revolving / Line of Credit.
Status as of Mar, 2016
Date opened Aug, 2015
Loan type Line of Credit
Credit limit $20,000
Largest past balance $0
Account Type Revolving
Account holder Individual
Industry Credit Unions
It's reporting for me as revolving.
What I can't figure out is the date of the balance reporting.
It's not the statement date, like it is for credit cards.
It's the balance at the end of the month.
In my case the balance reported was not the balance at the end of the month, but the balance for the 3rd and 4th days after the end of the previous month.
Another odd thing is that it hasn't reported at all to EX, only to TU & EQ.