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PenFed Checking Account Overdraft question

Frequent Contributor

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
Frequent 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.

38 Credit Cards $47,780 CL (69% UT, 12/41 Zero Balance), 3 Charge Card NPL, 16 VISA/MC, 7 Amex, 2 Discover, 16 Store Cards
2 Auto Loans, 3 Installment Loans, 1 Student Loan (Deferred)
EQ FICO 8 598 Positive 34, Negatives 1, Inquires 19, AAoA 2Y
EX FICO 8 582 Positive 68, Negatives 4, Inquires 55, AAoA 3Y5M
TU FICO 8 621 Positive 72, Negatives 3, Inquires 35, AAoA 1Y11M
Rebuilding Since 03-2015, Gardening Since 06-2017, Gardening till FICO 8 705
Message 2 of 14
Valued Contributor

Re: PenFed Checking Account Overdraft question

I wouldn't think that would, but what do I know lol.
EX 08 Fico: 729 TU 08 Fico: 735EQ 08 Fico: 740Total Credit Line: $128,600Utilization: 6%Inquiries:EX-6TU-7EQ-5


Message 3 of 14
Regular Contributor

Re: PenFed Checking Account Overdraft question

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

Starting Scores April 2015 510-520's
Current as of 05/22/2016
(664 EQ) (705TU) (673 EX) AMEX PRG npsl l PENFED Rewards $10k l NFCU Rewards $2300 l Chase Freedom Unl $3500 l Chase Marriott Visa Sig $5k l Chase Hyatt Visa Sig $5k l Chase IHG $3k l BofA Rewards $3100 l Cap1 QS1 $2k l John Deere $15k l Lowes $17k l Amazon $5k l Walmart Store $6k l Marvel $6k l Jetblue $1500 l GM Cap1 $1k l Home Depot $750 l Kohls $700 l Jared Jewlers $4700 l GM Cap1 $3k (AU) l Discover IT $5,500 (AU) l QS1 $2150 (AU) l Cabela's $2k l Comenity (various $1500)
Message 4 of 14
Valued Contributor

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.


Starting all over again 9/22/17
Message 5 of 14
Frequent Contributor

Re: PenFed Checking Account Overdraft question

Yes, it shows up on mine as Installment Loan.
BK CH7 (09/15) - TU 439 : EQ 459 : EX 440
Discharged (12/15)
Message 6 of 14
Frequent Contributor

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
Frequent Contributor

Re: PenFed Checking Account Overdraft question


OhMyWhatHaveIDone 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

Staring Score: EQ 597 TU 617 EX 566 (01/22/2016)Current Score: EQ 667 TU 701 EX 744 (05/26/2016)
Message 8 of 14
Valued Contributor

Re: PenFed Checking Account Overdraft question

Revolving, I just tripled checked each report :-)

Starting all over again 9/22/17
Message 9 of 14
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

fico 11/01/01//2017 tu 634eq 631
ex 613overstock src="http://ficoforums.
Message 10 of 14