cancel
Showing results for 
Search instead for 
Did you mean: 

NFCU Checking Line of Credit

Highlighted
Valued Contributor

NFCU Checking Line of Credit

I wasn't sure where to post this, but i'm curious about the NFCU overdraft line of credit.

Does opening that line of credit with NFCU go towards 5/24? How does it show up on your CR?

 

I'm looking to maximize my credit utilization via a few goal cards in the next 6-9 months, and possibly this line. And i'm just curious in learning more about how it could help.





  |  
Message 1 of 12
11 REPLIES 11
Highlighted
Moderator

Re: NFCU Checking Line of Credit

In the majority of reported cases / DPs, the revolving CLOC, just like a PLOC, would count toward 5/24.
Message 2 of 12
Highlighted
Community Leader
Mega Contributor

Re: NFCU Checking Line of Credit

Agreed, because it's a reporting line of credit it should count.
Message 3 of 12
Highlighted
Valued Contributor

Re: NFCU Checking Line of Credit

Got it. I hadn't planned on applying just yet, but now I know for sure to wait until after I've gotten the last two Chase cards I want, first.





  |  
Message 4 of 12
Highlighted
Community Leader
Mega Contributor

Re: NFCU Checking Line of Credit

Good choice.. Cloc seems nice but it seems its more for show than tell for most peopleSmiley Wink
Message 5 of 12
Highlighted
Community Leader
Super Contributor

Re: NFCU Checking Line of Credit


@FinStar wrote:
In the majority of reported cases / DPs, the revolving CLOC, just like a PLOC, would count toward 5/24.

Oh I didnt realize loans counted toward 5/24. I thought it was only CCs.  Thanks FinStar. 


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $6.5K ||
Message 6 of 12
Highlighted
Valued Contributor

Re: NFCU Checking Line of Credit


@CreditInspired wrote:

@FinStar wrote:
In the majority of reported cases / DPs, the revolving CLOC, just like a PLOC, would count toward 5/24.

Oh I didnt realize loans counted toward 5/24. I thought it was only CCs.  Thanks FinStar. 


Cheese and Rice! Shut the front door! Holey Buckets! Please, say it ain't so!

 

This puts me 4/24 in August 2020... I think I am going to cry!  😭

















Your FICO credit scores are not just numbers, it’s a skill.

Message 7 of 12
Highlighted
Frequent Contributor

Re: NFCU Checking Line of Credit


@FinStar wrote:
In the majority of reported cases / DPs, the revolving CLOC, just like a PLOC, would count toward 5/24.

I never thought about that before. 

 

Chase should excluded PLOC accounts from counting against 5/24. 5/24 is made to prevent churning... Can't churn line of credits. 

Message 8 of 12
Highlighted
Valued Contributor

Re: NFCU Checking Line of Credit


@VPExecutive wrote:

Chase ... 5/24 is made to prevent churning...  


Someone who has "the inside" on Chase lending practices -- impressive.Smiley LOL

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (09/16/2020): FICO 08 EXP: 747; TU: 758; EQ: 775
2020 Goal Score: 760 across the board


Take the myFICO Fitness Challenge
Message 9 of 12
Highlighted
Frequent Contributor

Re: NFCU Checking Line of Credit


@James_A wrote:

@VPExecutive wrote:

Chase ... 5/24 is made to prevent churning...  


Someone who has "the inside" on Chase lending practices -- impressive.Smiley LOL


Why else would Chase have the 5/24 rule. 

Message 10 of 12
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.