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PENFED odd reporting - PLOC

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Anonymous
Not applicable

PENFED odd reporting - PLOC

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!

Message 1 of 8
7 REPLIES 7
CreditDunce
Valued Contributor

Re: PENFED odd reporting - PLOC

PLOC almost always report as revolving.  It is not just Penfed reporting.  There are some exceptions, but they are mostly for large limit HELOCs.

Message 2 of 8
RonM21
Valued Contributor

Re: PENFED odd reporting - PLOC

I've seen a lot of others saying these are reported as revolving also.


Total CL: $321.7kUTL: 2%AAoA: 7.0yrsBaddies: 0Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

BoA-55k | NFCU-45k | AMEX-42k | DISC-40.6k | PENFED-38.4k | LOWES-35k | ALLIANT-25k | CITI-15.7k | BARCLAYS-15k | CHASE-10k

Message 3 of 8
Anonymous
Not applicable

Re: PENFED odd reporting - PLOC

My PLOC with BECU reports as revolving. It's normal.

Message 4 of 8
Revelate
Moderator Emeritus

Re: PENFED odd reporting - PLOC

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

 




        
Message 5 of 8
SouthJamaica
Mega Contributor

Re: PENFED odd reporting - PLOC


@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.

 

 


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 6 of 8
manyquestions
Established Contributor

Re: PENFED odd reporting - PLOC


@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.

Message 7 of 8
SouthJamaica
Mega Contributor

Re: PENFED odd reporting - PLOC


@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.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 8 of 8
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