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How will PLOC use impact credit score?

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Valued Member

How will PLOC use impact credit score?

I would like to know if I used my entire available PLOC, will this hurt my credit scores.

Example approved for 25k used entire 25k opt to just paying Interest every month. By me used entire 25k would this consider 100% utilization.

3 REPLIES 3
Moderator

Re: PLOC

Yes it would hurt your score as would be maxed as not an installment loan although installment loan hurts your scores initially as well until paid down, just not as much

Message 2 of 4
Valued Member

Re: PLOC

Thank You.
Message 3 of 4
Super Contributor

Re: PLOC


@APL247 wrote:
I would like to know if I used my entire available PLOC, will this hurt my credit scores.

Example approved for 25k used entire 25k opt to just paying Interest every month. By me used entire 25k would this consider 100% utilization.

Yes. It would be treated the same way as a maxed out credit card would be treated.


Total revolving limits 732500 (606000 reporting) 12/4/20 FICO 8 scores: EQ 715 TU 760 EX 735
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