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NFCU Maximum unsecured credit limit

xiocc
Regular Contributor

Re: NFCU Maximum unsecured credit limit

I'm just telling you what I see on my side. I never disputed the cc or CLOC limits? Not sure why you keep repeating those. As stated before, I assume CLOC is used for consumer facing documentation as a reasonable person would probably know what a checking line of credit is as opposed to NavChek.







Message 31 of 37
O_G
Regular Contributor

Re: NFCU Maximum unsecured credit limit


@xiocc wrote:
I'm just telling you what I see on my side. I never disputed the cc or CLOC limits? Not sure why you keep repeating those. As stated before, I assume CLOC is used for consumer facing documentation as a reasonable person would probably know what a checking line of credit is as opposed to NavChek.

Furthermore, if you still are uncertain then I encourage you to apply for one of the companies many open positions.

The term NavChek does not appear in anything that was written within the past several years.  It is used by old timers at Navy FCU who don't face the public much and who remember having used the term for ages.  If you look at all the T&Cs and other documentation about accounts, only the term CLOC is used.

 

By the way, now that I think of it, you can actually have two CLOCs as long as one is a joint account with another person.  I woudn't be surprised if you could have even more if you are a joint account holder with another family member.  

Message 32 of 37
xiocc
Regular Contributor

Re: NFCU Maximum unsecured credit limit

Consumer facing documentation is always different than non-consumer facing. Hence why a consumber sees one name only. However, the backend differences is what makes the difference between somoene being stuck at 3k on a CLOC, or 25k on a CC vs someone who has a higher amount as the product backend is slightly different. 

 

As it appears, there is no # limit on CLOCs. Just a $ limit. So if you have 10 checking accounts, then you can have 10 CLOC's. 







Message 33 of 37
O_G
Regular Contributor

Re: NFCU Maximum unsecured credit limit


@xiocc wrote:

Awww so sour you seem, my job is fine thank you. Consumer facing documentation is always different than non-consumer facing. Hence why a consumber sees one name only. However, the backend differences is what makes the difference between somoene being stuck at 3k on a CLOC, or 25k on a CC vs someone who has a higher amount as the product backend is slightly different. 

 

As it appears, there is no # limit on CLOCs. Just a $ limit. So if you have 10 checking accounts, then you can have 10 CLOC's. 


You can have as many CLOCs as you have different joint checking accounts, each with a different member.  There is, obviously, no know cumulative limit as each one can reach $15k.  Right now I'm at $30k.  

The reason someone has a $3k CLOC and someone else has $15k is only because of a phenomenon called creditworthiness as measured by Navy.  It has absolutely nothing to do with any imaginary product naming protocol.  Credit cards at Navy operate the same way.  All cards have an individual maximum limit of $50k except for Flagship.  On that one card you can have a limit of $80k.  No matter how many personal cards you have, the maximum exposure is $80k.  

Message 34 of 37
xiocc
Regular Contributor

Re: NFCU Maximum unsecured credit limit

Not sure why you are talking about a CC again.... There is a cumulative limit on CLOC amounts. Credit worthiness is not the only factor used. It is not a phenomenon. If you believe it's only based on credit worthiness then you are extremely naive.







Message 35 of 37
James_A
Valued Contributor

Re: NFCU Maximum unsecured credit limit

@xiocc & @O_G 

 

Speaking for myself: I enjoy the discussion points of your back and forth. I do not enjoy the increasingly hostile tone.

 

Maybe you both might be mindful of the house rules -- FSR -- and dial it back a notch?

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Message 36 of 37
xiocc
Regular Contributor

Re: NFCU Maximum unsecured credit limit

Lol your not wrong. It's just unfortunate when you provide a solution for someone to see the "light" but it's ignored and deflected.

Oh well. Cheers mate!






Message 37 of 37
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