NavCheck Question

[ficoguy2013]

I was recently approved for the NavCheck... I need some clearification - the guy I spoke with wasn't.. very clear...

So, I had $800 outstanding balance on NavCheck.

At Midnight, after my check of $2500 cleared that I deposited over the weekend- it transferred automatically $300 (as navcheck advance) back to the LOC. 

According to the rep - it will be 2% of the balance owed that will transfer automatically - but doesn't add up - how can 2% of 800$ be $300? 

He couldn't give me an answer. 

Instead of my CHK showing exactly what I have - it only shows $200 is avaiable

I need some light into this

[ficoguy2013]

I guess no one knows what's going on lol

I guess I will have to wait until midnight tomorrow to see if it's straighten out.

[ficoguy2013]

Nevermind... 

I called again and found a very intelligent women who explained. Thanks lol

[Anonymous]

So what actually happened?

[Creditaddict]

I would always pay your checking line of credit off whenever possible even if next week you end up overdrafting again... I personally think it's better to pay, use, pay, use then just leave and pay small amounts because you need the cash on hand in another few days or whatever and will save you on interest.

When you deposit a check, $200 will show instantly until the check clears (unless a hold) it will appear next day more than likely.

[ficoguy2013]

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@Creditaddict wrote:

I would always pay your checking line of credit off whenever possible even if next week you end up overdrafting again... I personally think it's better to pay, use, pay, use then just leave and pay small amounts because you need the cash on hand in another few days or whatever and will save you on interest.

When you deposit a check, $200 will show instantly until the check clears (unless a hold) it will appear next day more than likely.

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Yeah! I use it, and pay it etc etc.

Navy Fed systems were playing catch up...

When my checked cleared at midnight, my transactions were deductioned out of my check and LOC advances were reverse when they posted.