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And NFCU LOCs report as a revolving account....
Pretty much all loc report as revolving. That is what makes jloc unique.
@Crashem wrote:Pretty much all loc report as revolving. That is what makes jloc unique.
I thought LOC's had a boundary around 30-35K where they report as installment rather than revolving? I recall illecs posting on that a while back explicitly, though I might be confusing the details with regards to balance vs. limit.
@Revelate wrote:
@Crashem wrote:Pretty much all loc report as revolving. That is what makes jloc unique.
I thought LOC's had a boundary around 30-35K where they report as installment rather than revolving? I recall illecs posting on that a while back explicitly, though I might be confusing the details with regards to balance vs. limit.
That's correct although the exact limits seem to fluctuate and not be exact.
I thought it doesn't so much report as installment when it surpasses the boundary. It still reports as revolving, but I thought fico ignores it in revolving util calculations. Basically was designed to compensate for helocs which were really messing with people's utilization.
Btw my jloc reports as installment no matter what the limit.