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PLOC vs OLOC tell what I dont know?

Regular Contributor

Re: PLOC vs OLOC tell what I dont know?

@Anonymous wrote:

@SouthJamaica wrote:

@Anonymous wrote:
In response to pushing and pulling payments to PLOCs ... the US Bank PLOC will receive direct payments as you are issued a Visa Access Card which works exactly like any credit card with its own card number not tied to anything else.

So it's a debit card which is linked only to the line of credit, and not to the deposit accounts?  I wonder if other lenders could offer that if it were requested.

No, it is a Visa Access Card (not labels as a Debit Card) for the PLOC and  can link to other accounts as far as I know. It works like a credit card and runs on the credit side of the bank. You can obtain cash at an ATM, and purchases with a note, interest starts right away there is NO GRACE PERIOD. 


To verify, it is actually labeled as "Visa Access Card" on the card and not "debit Card"? I have never heard of this before. This is quite innovative on the part of US Bank. Though it is also self serving on US Bank's part to make it easier to spend on a LOC and collective interest PMTS.


I wonder how Paypal's bill pay system would treat Us Bank's LOC Visa Access Card? Could it be prepaid like a credit card?

Message 11 of 12
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Re: PLOC vs OLOC tell what I dont know?


Love how US Bank handles it! We need to remember banks are not "not-for-profit" and there are many fish in the sea!

US Bank has been there for me on many projects!! No complaints. As to not a Debit Card ... that is correct ... it works as a credit card (I do not need another Debit Card).


No connection to a prepaid card!

Message 12 of 12
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