Is a HELOC revolving credit?

Raymon Fiene: Yes because the amount financed and your payments can change month by month just like a credit card.

Cletus Crotts: It depends on the amount of the HELOC as to whether it would treated by Fico as revolving or as installment.Fico won't say how much of a HELOC it would take for it to be treated as an installment. They (Craig Watts from Fair Isaac) say a $10,000 HELOC would be treated as a revolving but a $100,000 would be treated as an installment and that there is a cut off point somewhere between those two figures where the HELOC would be treated as an installment instead of revolving. The best guesstimate is that it is probably over $60,000....Show more