Hi,
just wanted to drop a little psa for anyone like me that has/had an interest in this `out of footprint' bloc and using it for overdraft. bottom line is that if one is outside of the core ~19 states that pnc services one is out of luck because there is no way to get a business checking account. game over, it cannot be done at this time. pnc is looking at moving into other geo's in the future but for now a loan with a min $1K transfer is all you have with this product. needless to say I am rather bummed out. I have a chase brm looking to see if he can come up with something but my sense is that my next move will be to just spring for an nfcu cloc and be done with it. kind of surprised that simple little blocs are not more widely available but I have not been able to turn up anything and I have looked.
@bourgogne wrote:Hi,
just wanted to drop a little psa for anyone like me that has/had an interest in this `out of footprint' bloc and using it for overdraft. bottom line is that if one is outside of the core ~19 states that pnc services one is out of luck because there is no way to get a business checking account. game over, it cannot be done at this time. pnc is looking at moving into other geo's in the future but for now a loan with a min $1K transfer is all you have with this product. needless to say I am rather bummed out. I have a chase brm looking to see if he can come up with something but my sense is that my next move will be to just spring for an nfcu cloc and be done with it. kind of surprised that simple little blocs are not more widely available but I have not been able to turn up anything and I have looked.
Thanks for keeping the ongoing progress/updates to this whole affair.
It will definitely help others if they look into it.
Some of the data points you provided convinced me to not persue any recon or future need for this product.
Hope you find your BLOC someday.
@bizcredit11 wrote:My point in posting the response I received from PNC today is not to confuse but merely to share accuracy.
"We apologize for the miscommunication regarding the credit pull. On this Line of Credit program, we only perform a soft inquiry of the owner's personal credit and we only pull the credit from Equifax."
PNC is saying no business credit is pulled although the soft pull is PG'd.
bizcredit11
pnc = very nice and professional but the csr's don't know it all and are pushing a new product. like everything its profile, dti, exposure, dependent but they 100% pulled my business ex, I have the inquiry right in front of me. they said I could use the product for overdraft but the reality is that is only true if one lives in the 19 states + the doc they serve. If one is outside that area there is no overdraft capability. overdraft aside I can see where this would be a nifty little product for many individuals, many lenders are shifting and processing locs via the sba which can really suck so a quick loc like this is great. still no paperwork so maybe this is just the ultimate tease, time will tell...
I chatted with banner today, very professional I really liked them but again they really want to route locs to the sba and the only way to find out is by a tu hp. took a beach walk and decided to use my hp for something that I hope will yield a better result. what good are scores if you dont take them for a spin once in a while huh. of course they are making me wait for it, I thought nfcu was instant on clocs + its been an hour, should I be nervous ha-ha...850, @0% and no consumer app in 2+ years, I will never understand lenders
re banner, my goodness, look at the app they need filled out
pnc = very nice and professional but the csr's don't know it all and are pushing a new product.
Very true even after talking to 4 different csr's. I have not spoken to any underwriters.
like everything its profile, dti, exposure, dependent but they 100% pulled my business ex, I have the inquiry right in front of me.
Typically I can't see who name wise pulls my Experian Biz. I can only see that there was/is an inquiry. How do you know for sure it was PNC? How much Experian biz credit do you have?
they said I could use the product for overdraft but the reality is that is only true if one lives in the 19 states + the doc they serve. If one is outside that area there is no overdraft capability.
In the same boat, I am in northern CA.
overdraft aside I can see where this would be a nifty little product for many individuals, many lenders are shifting and processing locs via the sba which can really suck so a quick loc like this is great. still no paperwork so maybe this is just the ultimate tease, time will tell...
I still hope you can use this as some kind of reserve/backup.
I chatted with banner today, very professional I really liked them but again they really want to route locs to the sba and the only way to find out is by a tu hp. took a beach walk and decided to use my hp for something that I hope will yield a better result. what good are scores if you dont take them for a spin once in a while huh. of course they are making me wait for it, I thought nfcu was instant on clocs + its been an hour, should I be nervous ha-ha...850, @0% and no consumer app in 2+ years, I will never understand lenders
It sounds like you should know something/more soon. Keep chipping away!
re banner, my goodness, look at the app they need filled out
I am assuming your were considering less than 100k?
@bourgogne wrote:I chatted with banner today, very professional I really liked them but again they really want to route locs to the sba and the only way to find out is by a tu hp. took a beach walk and decided to use my hp for something that I hope will yield a better result. what good are scores if you dont take them for a spin once in a while huh. of course they are making me wait for it, I thought nfcu was instant on clocs + its been an hour, should I be nervous ha-ha...850, @0% and no consumer app in 2+ years, I will never understand lenders
I thought NFCU CLOC was a EQ Pull not a TU Pull ?
Starting Score: 567hi, no fancy pants reply from me lol .. I do have existing biz credit; loans and cards. it would be a remarkable coincidence to app for a product and get an inq the next day in <24 hrs. I dont get inq unless I do an app. it was them. I also don't care. I will not be able to exploit the product until I have a checking account married to it, them are the breaks. I just got my welcome package. I have to laugh, it came in a cute little micro envelope the same size as the checks with a cute little welcome note with dark sides like it was held up to candle light and sent off with paul revere or something. this looks like a 180 from any other doc I have gotten from a lender. it was carefully done and executed. aside from the checking blunder this is a very together outfit, its easy to tell
I have swallowed the pnc kool-aid, they have by far the best customer service of pretty much any company I have ever dealt with. they are all so nice and helpful, everyone. soooo they have an escalation dept. guess who can attach a consumer account like a digital wallet to a bloc? ME! lol...pretty cool little product on its own, bill pay, debit, etc. even free if you are 62. so instead of the $1K transfer its $ 50. hello overdraft. there also have a great simple to use portal. https://www.pnc.com/content/dam/pnc-com/pdf/personal/Checking/fees-vw-A.pdf
