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PenFed Checking Account Overdraft question

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Anonymous
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PenFed Checking Account Overdraft question

I was approved for a $500 overdraft protection on my checking account. Does this get reported as a trade line?

Message 1 of 14
13 REPLIES 13
CostantinoA
Established Contributor

Re: PenFed Checking Account Overdraft question

I had the same situation with a different bank and they didn't report on my report.  Not sure about PenFed though.

Experian - 695 (4Y1M AA, 33 INQ)
Transunion - 686 (1Y5M AA, 30 INQ)
Equifax - 726 (3Y1M AA, 4 INQ)
Total Credit Lines: $99,387
Message 2 of 14
RonM21
Valued Contributor

Re: PenFed Checking Account Overdraft question

I wouldn't think that would, but what do I know lol.


Total CL: $321.7kUTL: 2%AAoA: 7.0yrsBaddies: 0Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

BoA-55k | NFCU-45k | AMEX-42k | DISC-40.6k | PENFED-38.4k | LOWES-35k | ALLIANT-25k | CITI-15.7k | BARCLAYS-15k | CHASE-10k

Message 3 of 14
Anonymous
Not applicable

Re: PenFed Checking Account Overdraft question

It does report as a trade line yes. Penfed reported mine as well

Message 4 of 14
Anonymous
Not applicable

Re: PenFed Checking Account Overdraft question

It shows up and reports on all bureaus.  It is factored in scoring the same as a credit card.

Message 5 of 14
Anonymous
Not applicable

Re: PenFed Checking Account Overdraft question

Yes, it shows up on mine as Installment Loan.
Message 6 of 14
Anonymous
Not applicable

Re: PenFed Checking Account Overdraft question

So is it revolving or installment? I just set up an Alliant Secured Shared for a 9% long term installment loan. I wonder if this overdraft, if it is an installment, will screw me up with what I just did. 

Message 7 of 14
Anonymous
Not applicable

Re: PenFed Checking Account Overdraft question


@Anonymous wrote:

So is it revolving or installment? I just set up an Alliant Secured Shared for a 9% long term installment loan. I wonder if this overdraft, if it is an installment, will screw me up with what I just did. 


Mine reports as revolving

Message 8 of 14
Anonymous
Not applicable

Re: PenFed Checking Account Overdraft question

Revolving, I just tripled checked each report :-)
Message 9 of 14
mrldp40
Established Contributor

Re: PenFed Checking Account Overdraft question

i gpt 500 line also but confused on how to use it ,any info is appreciated thanks

ready to start a rebuild ex 533 eq 518 tu 541
inquiries EQ 2 EX 0 TU 1 multiple charge off current card green dot secured 500
Message 10 of 14
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