NFCU Checking Line of Credit-Is it Worth It?

[Appleman]

That is the issue with using the specific CLOC checks. I paid my tax bill of around $2,200 and had $3,000 in my NFCU checking at the time. NFCU drew down the account to $800 and did not touch the CLOC. Honestly, was actually just seeing how the account and specific checks worked.

I also just remembered that the customer service rep said that the routing and account numbers were the same for the checking and CLOC checks. I just double checked mine and the Checking Checks and the CLOC Checks share the same routing number and account number. Hopefully others can verify.

[Anonymous]

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@SouthJamaica wrote:

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@jlitnnsThere are multiple ways to access the CLOC. One is to write regular checks on your checking account for more than is in the account. Another is to use the special checks which are just linked to the CLOC.

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The checking and CLOC have the same routing/acct # on them.  The reason why it goes thru checking instead of the CLOC (even if you use the CLOC checks) is due to how they are processed. If they are done like a regular check then it goes to CLOC, if its done as a direct debit (like your debit card) then it will come out of your checking acct first.  

[Anonymous]

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@A1Credit wrote:

Thanks all.  I think I will wait to apply because I want to better my chances of getting the full $15K.  My EQ Fico 9 is 709 according to NFCU.

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That score is good enough to get the full 15K.  The thing there is that while navy uses your fico score, they are more about your DTI and income. 

[Anonymous]

I recently applied and received the full 15k, my FICO9 EQ is 723.

Good luck.

[Anonymous]

I have used my CLOC NavChecks time and time again with hundreds of dollars in my NFCU checking and they never once went through my checking first. Never ever once has that happened.

[Jnbmom]

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@Anonymous wrote:
I have used my CLOC NavChecks time and time again with hundreds of dollars in my NFCU checking and they never once went through my checking first. Never ever once has that happened.

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I opened a CLOC with them I only asked for 5K ( i know should have went for higher live and learn) anyhoo do they send you checks for this? I have not received any checks for the CLOC yet, but it is fairly a new account ( opened 4/24/18) so a little over 2 weeks ago since I opened that.

[Anonymous]

Call and ask them to send them to you. A book of 25 are free. Supposedly they auto send them. But i had to call and order my first batch.

You can also order them on your accounts page. Easier just to call them.

[Jnbmom]

Thanks

[Anonymous]

Slightly off, but are you stuck with the original apr with cloc and if you want the lowest apr you need to be in a great place before applying?

[Anonymous]

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@Anonymous wrote:
Slightly off, but are you stuck with the original apr with cloc and if you want the lowest apr you need to be in a great place before applying?

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Slightly off what?