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Rbfcu ploc question

Shahrazmm
Regular Contributor

Rbfcu ploc question

So i have read here that rbfcu doesnt report its personal unsecured line of credit if this is the case does that mean if i were to say spend 5k on it will that not show up on my utilization on my credit report i use cct btw
Message 1 of 6
5 REPLIES 5
RobertEG
Legendary Contributor

Re: Rbfcu ploc question

All scoring is based on credit report info obtained from the CRA.

 

If a creditor does not report to a CRA, then it cannot be a factor in your scoring on any inquiry sent to that CRA.

 

However, the creditor may do their own internal scoring based only on their own database review of your account history with them, or the creditor might also pull your credit report from one or more CRAs.

Thus, your util of their line of credit, while not affecting your FICO score, might affect subsequent actions by the creditor, such as review for grant of any credit limit increase or for decrease of your credit limit or closing of the line of credit.

It is likely that their internal scoring algorithm may closely follow in effect those of the FICO scoring algorithm, so it would still be prudent to assume that high util might be viewed as a negative in your future evaluations, similar to FICO scoring criteria.

Message 2 of 6
Shahrazmm
Regular Contributor

Re: Rbfcu ploc question

Thats awesome was just checking my current util all the way around is at 0 right now
Message 3 of 6
Shahrazmm
Regular Contributor

Re: Rbfcu ploc question

Please clarify from the moment the money is drawn. Do you mean that
A. It will start intrest roght after so if im at 8% interest would that mean at the end of everyday more interest is added on
B do you mean itll be like a credit card end of every month all the interest hits?
This might be a better way to ask how is it different from a ccs intrest

If i pull out 500$ from a cc and 500 from a ploc which will end with more interest
Message 4 of 6
jacetx
Valued Contributor

Re: Rbfcu ploc question

FYI it does report. I have it and it shows up on my credit reports.
Message 5 of 6
Shahrazmm
Regular Contributor

Re: Rbfcu ploc question

Your right i just showed it too on my cr thanks buddy btw side question do u know any credit. Unions that also offer car inurance
Message 6 of 6
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