topic Re: NFCU CLOC Reporting Question in General Credit Topics

NFCU CLOC Reporting Question

IodineNightSky — Thu, 13 Dec 2018 18:02:37 GMT

How does the Navy Checking Line of Credit report to the CBs? Or does it even report?

If it reports, I assume it would have to be considered revolving and would then help out UT %s if it goes unused.

Does there have to be some balance on it to initially get it to report or will it simply report $0 balance with $15k limit the first month and every month thereafter?

Re: NFCU CLOC Reporting Question

CreditInspired — Thu, 13 Dec 2018 22:51:49 GMT

Mine just report as a loan and yes it reports the CL and balance.

Re: NFCU CLOC Reporting Question

SouthJamaica — Thu, 13 Dec 2018 22:58:03 GMT

@IodineNightSky wrote:
How does the Navy Checking Line of Credit report to the CBs? Or does it even report?

If it reports, I assume it would have to be considered revolving and would then help out UT %s if it goes unused.

Does there have to be some balance on it to initially get it to report or will it simply report $0 balance with $15k limit the first month and every month thereafter?

It reports as a revolving loan, and has the same effect a credit card does. Instead of reporting the balance as of the statement date, though, it reports the balance as of the 1st of the month.

Re: NFCU CLOC Reporting Question

K-in-Boston — Sat, 15 Dec 2018 03:04:24 GMT

20 months later and mine is still somehow a hidden tradeline. Maybe I'll give it another 6 years or so until it matches my AAoA to mention the fact. But yes, if it did report it would be factored in as a revolving line of credit.

Re: NFCU CLOC Reporting Question

Anonymous — Sat, 15 Dec 2018 23:40:01 GMT

It reports as a revolving loan, and has the same effect a credit card does. Instead of reporting the balance as of the statement date, though, it reports the balance as of the 1st of the month.

Mine closes the 27th I just dont go CRAZY and buy a motorcycle in those 2-4 days from when it reports on the 1st of the following months :-p

Re: NFCU CLOC Reporting Question

pizza1 — Mon, 17 Dec 2018 02:32:47 GMT

Ive never used mine ever in the 5 yrs Ive it. It reports to all 3 CRA's, and reports as "revolving", in the comments "line of credit".

It is factored into my overall revolving utilization (credit cards). Mine also reports "C" (current) every other month like clock work.