topic Re: How does Navy CLOC report? in Personal Finance

How does Navy CLOC report?

lhcole77 — Wed, 29 Jun 2016 17:48:20 GMT

Does this report as a loan or a revolving line?

And does it only report if used?

Re: How does Navy CLOC report?

baller4life — Wed, 29 Jun 2016 18:32:07 GMT

Revolving line

Re: How does Navy CLOC report?

lhcole77 — Wed, 29 Jun 2016 19:31:49 GMT

@baller4life wrote:
Revolving line

Thanks, baller. Do you know if if has to have a balance in order to report?

Re: How does Navy CLOC report?

baller4life — Wed, 29 Jun 2016 20:23:38 GMT

Nope. It reports faithfully every month balance or not.

Re: How does Navy CLOC report?

lhcole77 — Wed, 29 Jun 2016 20:31:48 GMT

@baller4life wrote:
Nope. It reports faithfully every month balance or not.

Sweet!

Re: How does Navy CLOC report?

RonM21 — Wed, 29 Jun 2016 22:10:45 GMT

That is nice, especially when it's reporting positive info. To have that month in and out can be a good thing.

Re: How does Navy CLOC report?

pizza1 — Thu, 30 Jun 2016 03:05:04 GMT

Its reports as a Line of Credit/Revolving...and no, you don't have to use it as said...its reports to all 3 CRA

Re: How does Navy CLOC report?

Anonymous — Thu, 30 Jun 2016 03:37:28 GMT

Does it count against Chase's 5/24 policy?

Re: How does Navy CLOC report?

Saleen099 — Fri, 01 Jul 2016 02:10:23 GMT

@Anonymous wrote:
Does it count against Chase's 5/24 policy?

Yes it counts.

Re: How does Navy CLOC report?

Vegas4Play — Fri, 01 Jul 2016 10:20:25 GMT

Does it count in the chase 5/24 because of the word revolving???

Re: How does Navy CLOC report?

armymom — Fri, 01 Jul 2016 18:05:09 GMT

@baller4life wrote:
Nope. It reports faithfully every month balance or not.

Does a higher limit CLOC help your credit score verses a lower limit?

Re: How does Navy CLOC report?

baller4life — Fri, 01 Jul 2016 18:19:03 GMT

@armymom wrote:
@baller4life wrote:
Nope. It reports faithfully every month balance or not.
Does a higher limit CLOC help your credit score verses a lower limit?

Well a higher limit lowers your util. Thus increasing your score. But, if you don't carry balances, it doesn't matter.

Re: How does Navy CLOC report?

armymom — Fri, 01 Jul 2016 18:25:23 GMT

@baller4life wrote:
@armymom wrote:
@baller4life wrote:
Nope. It reports faithfully every month balance or not.
Does a higher limit CLOC help your credit score verses a lower limit?
Well a higher limit lowers your util. Thus increasing your score. But, if you don't carry balances, it doesn't matter.

How long should I wait before asking for an increase? I opened mine last week and requseted only the minimum.

Re: How does Navy CLOC report?

baller4life — Fri, 01 Jul 2016 18:29:21 GMT

I would wait at least 3 months

Re: How does Navy CLOC report?

Guyatthebeach — Sun, 03 Jul 2016 16:37:47 GMT

My CLOC reports as a revolving line of credit.

Guyatthebeach

Re: How does Navy CLOC report?

armymom — Sun, 03 Jul 2016 16:45:14 GMT

@Guyatthebeach wrote:
My CLOC reports as a revolving line of credit.

Guyatthebeach

Mine still isn't showing? How long did it take for yours to show?

Re: How does Navy CLOC report?

Guyatthebeach — Mon, 04 Jul 2016 01:05:54 GMT

@armymom wrote:
@Guyatthebeach wrote:
My CLOC reports as a revolving line of credit.

Guyatthebeach
Mine still isn't showing? How long did it take for yours to show?

It appeared today on my alerts dated for 7/1/16. I used myfico's service too.

It will appear, just give it time.