BECU personal line of credit

[Anonymous]

Hello,

I recently opened a BECU checking and savings account in branch. Toward the end of the appointment, the employee tells me she “added a personal line of credit that I was automatically approved for” to my accounts. I can see it on my login and I was wondering if that is something I need to use every six months to keep open (like a card)?

Thank you

[19eighty5]

That's interesting that the banker added a credit tradeline to your account without asking permission first. I mean, thank you (I guess)? 

Sorry, I know you didn't ask our opinion about that, LOL. To answer your question, I would think LOC is there for you to use but as a fallback.

[Ardecko]

Dude... You were just Wells Fargo'ed. (And with this post, I exert sheer willpower and the request of the MF community to make this a new colloquialism.)

to your actual question, I have read posts about people having their lines of credit close, but it seems like it took several years like four plus before that happened. You should search...

[Anonymous]

I still haven’t seen an inquiry on my reports but she said it was based on my “good credit.” My spouse did not get one and asked if he was approved and for one and she said he had no offers.

It says “personal line of credit” on my mobile app under our checking and savings and 5,000 with 8.9 interest listed.

[JoeLuvsHisCredit]

[Gunnerboy]

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@Anonymous wrote:
Hello,

I recently opened a BECU checking and savings account in branch. Toward the end of the appointment, the employee tells me she “added a personal line of credit that I was automatically approved for” to my accounts. I can see it on my login and I was wondering if that is something I need to use every six months to keep open (like a card)?

Thank you

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I have a PLOC with BECU and to my understanding, they do not charge "dormant fees" or "inactivity fees".  BECU Rocks!

[NRB525]

I opened a BECU PLOC in 2015 at the time I was looking for a Term Loan. It isn’t a Term Loan

I rarely used it. There are no advance fees, no maintenance fees, they’ve not suggested they will close it.

There is an annual review about Aug-Sept. If your PLOC or credit card is not at the lowest rate, and your credit has improved they will lower the APR. I got this lowered APR on either the PLOC or my CC, so both are at their lowest offered rates.

[Anonymous]

Does the Personal line report?

[Gunnerboy]

Yes.

[rprisco]

Would anyone mind sharing limits on BECU PLOC? Thank you.