NFCU Checking Line of Credit

[MyFault]

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]

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

[AverageJoesCredit]

Agreed, because it's a reporting line of credit it should count.

[MyFault]

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.

[AverageJoesCredit]

Good choice.. Cloc seems nice but it seems its more for show than tell for most people

[CreditInspired]

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

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

[Medic981]

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@CreditInspired wrote:

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

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

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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!  😭

[VPExecutive]

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

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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. 

[Anonymous]

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@VPExecutive wrote:

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

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

[VPExecutive]

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@Anonymous wrote:

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@VPExecutive wrote:

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

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

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Why else would Chase have the 5/24 rule.