topic Re: Line of credit report as revolving or installment? in General Credit Topics

Line of credit report as revolving or installment?

Anonymous — Tue, 09 Dec 2008 09:01:38 GMT

Do LOC report as revolving or installment? Any details on this would be appreciated.

Re: Line of credit report as revolving or installment?

llecs — Tue, 09 Dec 2008 12:09:26 GMT

Mostly is coded as revolving. There is a limit at which one or more of the FICO scores will read it as installment if passed. Seems like it was $50k, but can't remember.

Re: Line of credit report as revolving or installment?

Anonymous — Tue, 09 Dec 2008 19:44:23 GMT

My $500 line reports as revolving.

Re: Line of credit report as revolving or installment?

Lel — Tue, 09 Dec 2008 20:12:33 GMT

@llecs wrote:
Mostly is coded as revolving. There is a limit at which one or more of the FICO scores will read it as installment if passed. Seems like it was $50k, but can't remember.

That's the threshold that is most commonly cited, though I don't think it's actually set in stone anywhere. And this rule of thumb applies specifically to home equity lines of credit. Personal lines of credit are always reported as revolving, I believe.