are there any dp on requesting a cloc as a "joint owner?"
12/2018, I joined nfcu and was approved for the platinum visa, but denied my request for 15k cloc. fast forward 10 months later and my platinum is a healthy 25k. now every time I log in, I see "we've got you covered with our cloc" under my primary checking account.
07/2019, daughter got her first job and we signed her up for campus checking with direct deposit and savings. she is the primary and I am joint owner because at the time she was 17, she is now 18. I have noticed under my daughters campus checking there is the option to apply for the cloc.
my questions are:
who's credit report are they going to pull, hers/mine/both?
if both, a hp for each of us?
will the account report on both credit reports?
at some point, our plan is to have her remove me as a joint owner, will it also be completely removed from my credit report or just marked "closed?"
she has no credit I am aware of and has a healthy fear of credit cards. I have warned her of my previous mistakes. I thought this might be a way to passively start her credit aside from adding her as a AU on my oldest cc account (11 years). my ficos are 800+.
Hi!
My DH applied for a CLOC which I am a secondary owner on. They HP’d his EQ only & approved him. Within 2 days, his CLOC also shows up in my app. NFCU hasn’t reported to the CRA’s yet, since it was just done on 10/04/19. I believe I also read that $15K was the max you are eligible for across ALL accounts. I have $3K on my checking, and DH has a $5K on his that is available to me, so I think I’m only eligible for $7K more. I can let you know how it reports when the time comes.
My DH applied for a CLOC which I am a secondary owner on. They HP’d his EQ only & approved him. Within 2 days, his CLOC also shows up in my app. NFCU hasn’t reported to the CRA’s yet, since it was just done on 10/04/19. I believe I also read that $15K was the max you are eligible for across ALL accounts. I have $3K on my checking, and DH has a $5K on his that is available to me, so I think I’m only eligible for $7K more. I can let you know how it reports when the time comes.
Following up - DH’s CLOC just reported to my CR’s.
Conclusion -
Navy CLOC must be applied for by main account holder. If approved, all co-owners will also have use of CLOC as well as have the account reported on their CR’s. No application is necessary for CO-owners or hard pulls. 👍
Conclusion -
Navy CLOC must be applied for by main account holder. If approved, all co-owners will also have use of CLOC as well as have the account reported on their CR’s. No application is necessary for CO-owners or hard pulls. 👍