Navy CLOC is a revolver - not an installment account - right?

[IodineNightSky]

I swear i spent a half hour searching the board and couldnt find the answer!

I need to know b/c i'm looking at revolver UT, etc., whether NFCU's CLOC is considered a revolver or an installment in the FICO world...

Thanks!

[Anonymous]

It's a revolver..

[SouthJamaica]

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@IodineNightSky wrote:

I swear i spent a half hour searching the board and couldnt find the answer!

I need to know b/c i'm looking at revolver UT, etc., whether NFCU's CLOC is considered a revolver or an installment in the FICO world...

Thanks!

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@Anonymous  is correct, it's a revolving account, treated pretty much the same as a credit card.

[DaveInAZ]

Yep, even my home equity Line of Credit is treated as a revolver, same as a credit card. To be treated as an installment loan it has to have a set loan amount, set payment amount, and set amount of time.