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Super Contributor
Posts: 6,166
Registered: ‎02-24-2015
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Re: PenFed Checking Account Overdraft question


OhMyWhatHaveIDone wrote:

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


Yes it is reported as a revolving line of credit.


FICO8 EQ 736 TU 761 EX 741 FICO5 EQ 720 Total revolving 422500
Super Contributor
Posts: 6,166
Registered: ‎02-24-2015
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Re: PenFed Checking Account Overdraft question


mrldp40 wrote:

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


Since it's only $500 I don't 'use it' at all; I just let it sit there in case I make a mistake causing an overdraft.


FICO8 EQ 736 TU 761 EX 741 FICO5 EQ 720 Total revolving 422500
Contributor
Posts: 93
Registered: ‎06-26-2015
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Re: PenFed Checking Account Overdraft question

So if I go to the ATM and have $500 in my checking account and withdrawl $550... it will pull $50 from the overdarft line of credit? 

Established Contributor
Posts: 542
Registered: ‎03-07-2007
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Re: PenFed Checking Account Overdraft question


NC84 wrote:

So if I go to the ATM and have $500 in my checking account and withdrawl $550... it will pull $50 from the overdarft line of credit? 


i dont really know ive asked on here and have sent penfed numerous messaged and calls .lol still not sure how to use it

fico 08 08/01//2017 tu 629 eq 637
ex 611 overstock 0/2250 disc secured 0/ 300 credit one 0/450 navy c rewards 1000/3500 navy plat mc 0/2000 penfed oloc 0/500 x 2 mjc 0/5000 wally world 0/200 carecredit 0/800 eq 05 bankcard 669 if i knew who pulled it

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