topic Re: Line of Credit? in General Credit Topics

Line of Credit?

Failingupwards — Fri, 04 Aug 2017 23:32:37 GMT

My husband and I share a line of credit from our credit union. Is this a revolving account? Installment account? How is this scored?

Re: Line of Credit?

SouthJamaica — Sat, 05 Aug 2017 01:39:48 GMT

@Failingupwards wrote:
My husband and I share a line of credit from our credit union. Is this a revolving account? Installment account? How is this scored?

It's a revolving account.

Re: Line of Credit?

Anonymous — Sat, 05 Aug 2017 01:45:01 GMT

@SouthJamaica is correct. It is a revolving line of credit.

Re: Line of Credit?

Anonymous — Sat, 05 Aug 2017 16:16:43 GMT

The other folks are right of course.

But it should also say "revolving" for that account on your credit report. Does it not say that on the report? It may not, in which case great qustion.

Or is it possible that you don't quite know how to pull and read your reports? If not, this is the big "learning moment" for you from the thread, more important than hearing our opinion about whether the LOC is revolving or not. Getting comfortable with how to frequently pull and read your reports is really important. We can help on how to do it if you want

When you get into the rhythm of doing pulling and reading your reports, you'll be able that to answer a lot of questions and much more importantly make the best decisions for yourself about many other things.

Best of luck...