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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.
@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.
@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! 😭
@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.
@VPExecutive wrote:Chase ... 5/24 is made to prevent churning...
Someone who has "the inside" on Chase lending practices -- impressive.
@Anonymous wrote:
@VPExecutive wrote:Chase ... 5/24 is made to prevent churning...
Someone who has "the inside" on Chase lending practices -- impressive.
Why else would Chase have the 5/24 rule.