When does your NavCheck/CLOC report?

[road2freedom]

Hi all - just curious to see when your Navcheck (I guess it's called CLOC these days) reports. Mine seems to have a statement date that matches my regular checking and savings statement date, but MPM shows the last reported date 8 days prior to that.

 

Thanks.

[mendelssohn]

Mine closes the same date as checking and savings and reports the same date (16th of the month). Normally EX updates pretty quick, EQ 1 or 2 days later and TU up to a week later.

[road2freedom]

Thanks. Has yours ever reported a balance? I'm wondering if mine shows the 1st because it hasn't yet.

[mendelssohn]

Never reported a balance,

[road2freedom]

Interesting. Thanks again!

[jimmyconway]

I have an inquiry from NAVY FCU on May 17 and got approved for the CLOC for $15K on May 17. It has not reported yet. When can I expect it to report? Thanks.

 

Jimmy.

[BDK]

Reports balance showing from the last day of the month. Shows up a couple of days later on reports, except when the last day of the month is during a weekend/holiday (like this month). NFCU will report whatever balance is showing tomorrow IME.

[jimmyconway]

Thanks BDK. My balance is $0. Would you think it is a possibility that the CLOC will report in the next few days with a balance of $0?

 

Thanks,

 

Jimmy.

[BDK]

Thanks BDK. My balance is $0. Would you think it is a possibility that the CLOC will report in the next few days with a balance of $0?

 

Thanks,

 

Jimmy.

Possibly, yes.

[jimmyconway]

Thanks again.

 

Jimmy.

[New2Navy]

In a related note, my NAVY credit line (whatever they're calling it now) is being reported by both TRANSUNION and EXPERIAN under the 'Other' category with a $15K credit line and a zero balance.

 

However, both are also not including that $15K in their utilization equations. You know darn well if I had a balance, they would be reporting that as a debt, but they're not reporting the $15K as available credit.

 

Can I complain about this with them or is it not classified as disputable ?

 

[mendelssohn]

What would you complain about? It reports as revolving like most other LOCs.

[New2Navy]

Except they report both sides of all other revolving accounts, the amount you owe, as well as the amount of available credit, which of course results in their reported utilization equation. They are only reporting one side.

[mendelssohn]

 

Except they report both sides of all other revolving accounts, the amount you owe, as well as the amount of available credit, which of course results in their reported utilization equation. They are only reporting one side.

 

They report it properly. Amount owed and total limit.

 

I'm not sure where you're getting that idea. It reports and is calculated like a CC.

[New2Navy]

No, they're not reporting it the same as all the other CC. They are not including the $15K in the utilization equation.

[mendelssohn]

They do on mine.

 

I hope you're not looking at something like Credit Karma. That's not accurate.

[New2Navy]

Yep. Credit Karma.

I know they're not reliable as far as scores, but I thought they got their basic data from the credit reporting agencies.

OK. I’ll have to get the direct reports. I think I may be eligible for the free annual in Sept.

Thanks

[mendelssohn]

 

Yep. Credit Karma.

I know they're not reliable as far as scores, but I thought they got their basic data from the credit reporting agencies.

OK. I’ll have to get the direct reports. I think I may be eligible for the free annual in Sept.

Thanks

 

 

Credit Karma doesn't report it correctly.

 

I assure you that both the balance and limit are included in FICO calculations.

[New2Navy]

Reason # 12 why Credit Karma scores are whack. A $15K differential in utilization has a large impact on scoring.