Consider NASA...questions

[rlx01]

@itguy_65: can you please update the thread with what the PLOC reports as (LOC or installment) once it reports?

Will app for it if it reports installment. Don't need any other revolving lines.

[TheClub]

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@rlx01 wrote:
@itguy_65: can you please update the thread with what the PLOC reports as (LOC or installment) once it reports?

Will app for it if it reports installment. Don't need any other revolving lines.

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^^^

Curious as well. If anyone knows the answer please chyme in.

Thanks.

[juggalo9er]

mine went from denied ....recon...approved for 25k with stipulations..send in dl, utility, paycheck stub and nothing since tuesday....and it stuck at approved not sure if the fact that i was told i was sent directly to underwriting or not

[spydergto]

what kind of income was everyone else report ? i think thats why I have been held up ... still have yet to recieve the email asking me for doc's , good thing my past four time cards are pdf and ready to go ... lols .. it really sucks cause i have been promoted four times in the past 2 years and now have a really good income EVERYONE wants my time cards to prove it ... been held up a few times on apps cause of this..

[jsucool76]

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@TheClub wrote:

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@rlx01 wrote:
@itguy_65: can you please update the thread with what the PLOC reports as (LOC or installment) once it reports?

Will app for it if it reports installment. Don't need any other revolving lines.

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^^^

Curious as well. If anyone knows the answer please chyme in.

Thanks.

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I'm going to assume it reports as a LOC/Revolving line...since it is not an installment loan.

LOC = revolving, similar to a CC

Installment = Take out a loan, pay it off, then it is closed (it isn't revolving, it is just they give you money, and then you pay it off + interest and the loan is done with) 

[Jlu]

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@jsucool76 wrote:

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@TheClub wrote:

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@rlx01 wrote:
@itguy_65: can you please update the thread with what the PLOC reports as (LOC or installment) once it reports?

Will app for it if it reports installment. Don't need any other revolving lines.

---

^^^

Curious as well. If anyone knows the answer please chyme in.

Thanks.

---

I'm going to assume it reports as a LOC/Revolving line...since it is not an installment loan.

LOC = revolving, similar to a CC

Installment = Take out a loan, pay it off, then it is closed (it isn't revolving, it is just they give you money, and then you pay it off + interest and the loan is done with) 

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Some lenders report a revolving LOC as an installment account because the repayment terms often do specify installments, even though the credit is available for future access once it has been repaid.  Instead of requiring monthly minimum payments of x% of the remaining balance each month, many revolving LOCs require monthly minimum payments of a fixed dollar amount until the balance is paid off, just as an installment loan does.

[jsucool76]

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@Jlu wrote:

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@jsucool76 wrote:

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@TheClub wrote:

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@rlx01 wrote:
@itguy_65: can you please update the thread with what the PLOC reports as (LOC or installment) once it reports?

Will app for it if it reports installment. Don't need any other revolving lines.

---

^^^

Curious as well. If anyone knows the answer please chyme in.

Thanks.

---

I'm going to assume it reports as a LOC/Revolving line...since it is not an installment loan.

LOC = revolving, similar to a CC

Installment = Take out a loan, pay it off, then it is closed (it isn't revolving, it is just they give you money, and then you pay it off + interest and the loan is done with) 

---

Some lenders report a revolving LOC as an installment account because the repayment terms often do specify installments, even though the credit is available for future access once it has been repaid.  Instead of requiring monthly minimum payments of x% of the remaining balance each month, many revolving LOCs require monthly minimum payments of a fixed dollar amount until the balance is paid off, just as an installment loan does.

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That's dumb. 

[WLRK11]

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@juggalo9er wrote:

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@Burned2manybridgesB4 wrote:

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@juggalo9er wrote:

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@Burned2manybridgesB4 wrote:

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@Jlu wrote:

Does anyone know if NASA has an option to upgrade or be issued a Visa Signature? I'm assuming the one they are sending out is going to be a regular Visa.

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Doesn't look like it's an option.

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i want a siggy or nothing!

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Nothing it is.....

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its like amex, the siggy makes you feel special and little else!

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I disagree. (Not to hijack the thread.) AMEX has saved me on several occasions (not to mention the rewards). I ordered something last week online, paid with my AMEX, and shipped via FedEx. It was shipped and left at my front door, but somebody took it! I called AMEX and they said no problem, and they refunded the purchase. Lots to love with AMEX. 

[TheClub]

I guess we'll see once someone confirms.

[Jlu]

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@jsucool76 wrote:

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@Jlu wrote:

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@jsucool76 wrote:

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@TheClub wrote:

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@rlx01 wrote:
@itguy_65: can you please update the thread with what the PLOC reports as (LOC or installment) once it reports?

Will app for it if it reports installment. Don't need any other revolving lines.

---

^^^

Curious as well. If anyone knows the answer please chyme in.

Thanks.

---

I'm going to assume it reports as a LOC/Revolving line...since it is not an installment loan.

LOC = revolving, similar to a CC

Installment = Take out a loan, pay it off, then it is closed (it isn't revolving, it is just they give you money, and then you pay it off + interest and the loan is done with) 

---

Some lenders report a revolving LOC as an installment account because the repayment terms often do specify installments, even though the credit is available for future access once it has been repaid.  Instead of requiring monthly minimum payments of x% of the remaining balance each month, many revolving LOCs require monthly minimum payments of a fixed dollar amount until the balance is paid off, just as an installment loan does.

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That's dumb. 

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Well I'd prefer it that way anyways since LOC's are usually used for a large purchase that is paid over time therefore you don't want to have to worry about high utilization on what looks like a credit card to a bank that pulls your report.