NFCU CLOC and Credit Scoring

Anonymous · ‎05-03-2016

There my question....

knowing that the LOC gets treated as a revolver per se is one thing but it seems as if the LOC reports under 'Other'

Which is fine as it's add to Credit Mix.......so some accounts are under

1) CC's

2) Loans

3) Other (where the CLOC is)

The '?' is since the 15CL of the LOC doesn't seem to added into the total CL's for utilization % purposes...I'm wondering

a) Does it effect the 'loans-to-be-paid' debt/ratio (although the amount could change drastically every month)

b) Is this LOC basically 'hidden' from the revolving CC balance thus adding breathing room to 'house' hidden debt on the LOC,

when applying for new credit?

Just want to know how you guys use the CLOC and your impressions on how it's balances help/hurt your scores vs holding debt on

your regular revolvers.

Thanks,

Revelate · ‎05-03-2016

It's just the 3rd party intepretation of the credit report, and Other simply means we couldn't characterize it (all my installment loans are considered other by some services, sloppy code).

Pay no attention to things like the CL summation being off as a result because that's just fluff: the LOC is counted as a revolving account with normal utilization metrics under FICO with a possible exception vis a vis HELOC's at ~35K if your balance gets that high.

Anonymous · ‎05-03-2016

Ok, so that being said ignoring the Fako models....

You're saying that both the CL and of course the balance are treated exactly the same as if it were a CC?

(Just making sure b/c obviously it's a huge diffeence to divide that outstanding balance against 15k that, Vantage seems to be ignoring.

Revelate · ‎05-03-2016

@Anonymous wrote:
Ok, so that being said ignoring the Fako models....
You're saying that both the CL and of course the balance are treated exactly the same as if it were a CC?

(Just making sure b/c obviously it's a huge diffeence to divide that outstanding balance against 15k that, Vantage seems to be ignoring.

How are you coming to the conclusion that Vantage is ignoring it?

Just like the consumer reports here at myFICO are not reference for their intepretation of FICO, Credit Karma et al. is not reference for Vantage.

LOC = CC for revolving utilization purposes on FICO, and to my knowledge, for Vantage too.

Anonymous · ‎05-03-2016

@Revelate wrote:
@Anonymous wrote:
Ok, so that being said ignoring the Fako models....
You're saying that both the CL and of course the balance are treated exactly the same as if it were a CC?

(Just making sure b/c obviously it's a huge diffeence to divide that outstanding balance against 15k that, Vantage seems to be ignoring.
How are you coming to the conclusion that Vantage is ignoring it?

Just like the consumer reports here at myFICO are not reference for their intepretation of FICO, Credit Karma et al. is not reference for Vantage.

LOC = CC for revolving utilization purposes on FICO, and to my knowledge, for Vantage too.

Just guessing b/c I know Fico should calculate the LOC = CC....just can't understand why the companies that shoot me over Vantage 3.0 scores seem

not to follow suit.

At 1st I thought possibly they were slow to report but the LOC is showing but the CL isn't added in towards the utilization ratio....can't see why not.

One of the reasons I wanted the LOC was to have that flexibility in debt ratio.....should I be concerned?

Revelate · ‎05-03-2016

No, because the summation of CL doesn't come from the bureaus.

It's just a third party math based on the data which probably excludes anything that's not a credit card, and that's wrong. Don't sweat it.