1) Eseentially your regular ATM (Red debit) card becomes a de facto 'credit card' b/c it will pull from your LOC with no
further action required.
2) Your checking account will not go NEGATIVE...it will go to 0 then what ever amount you're 'short' will pull from the LOC
ie if you make a purchase or pull ATM cash of $200 and had $50 in your checking the amount actually borrowed would be
just the $150 as it will pull from the liquid cash 1st.
3) You can get a CLOC 'check book' ...it looks just like a regular checkbook, except it says...well CLOC on it....
when you write checks from there it AUTOMATICALLY pulls from the LOC w/o zeroing out your checking account.
4) If you 'owe' on your CLOC and you deposit to your checking account it will NOT suck up your funds as one might think
with an overdrawn account...payment towards your CLOC are made at your direction
5) You can borrow for FREE if you pull on Friday after EST cutoff b/c although you got your money the bank won't 'process' the transaction
till the next biz day , meaning Monday night Tuesday a.m.
So that means % FREE LOAN for the weekend if you get back before that Tuesady morning processing +
since the % doesn't start to accrue until then...it's best to 'borrow' on Friday for a few free days of %
Again Fri/Sat/Sun would be FREE DAYS if you pull late enough on a Friday (which is early enough for us on the West Coast and still early enough for
'date night' on the East) just an FYI.....
This is a GREAT feature IMO with regard to a quick end of the week or even next week payback (ie self 'payday' loan)
@15.9% it's 25 cents per $500 per day so getting a free ride for half a week makes that 'loan' a very attractive option vs being late on a bill or just in
a quick pinch.
A Friday to Friday loan would again be a NICKEL per $100 per day or a total of .25 cents (remember only paying M-F..b/c F/S/S were Free) x 5 for a $500 loan ...not bad, in my book 
I love the CLOC, didn't think it'd be a big deal but now I'm pro CLOC
It's basically a CC account with checks attached and more flexibility, some places that won't take a card might be ok with a check
Another example is places like Winco Grocery and Arco gas station both don't take CC's but will take Debit, while now that debit card allows you to use 'debit'
but it's really 'credit' from your CLOC....
Which is nice b/c Winco is 24 hours and there are times where their bulk candy section calls me at 3 a.m. and I get to the counter and forget they don't get freaking CC's
and I can slide the regular NFCU debit card which pulls from the LOC and it's a CHEAP 'loan' + I go home with my snacks
***Last thing if it really is going to confuse you or be a mental hassle one could just open a 2nd checking account and use the one attached to the CLOC
as a de facto shill using the red debit on that account as essentially a CC and making the other checking function as your 'primary' using the CLOC account only as a
front for the credit account, basically adding another but more flexiblr 'CC' to your mix ( with check writing ability).
This type of info helps me, as I'm about to apply with them and wondered how some of their process work. They seem okay to work with from everything I've read.
