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PenFed Checking Account Overdraft question

Super Contributor

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 749 TU 770 EX 716 Total revolving 480k







Message 11 of 14
Super Contributor

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 749 TU 770 EX 716 Total revolving 480k







Message 12 of 14
Contributor

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? 

Message 13 of 14
Established Contributor

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 1/23//2018 tu 619 eq 627
ex 618 overstock src="http://ficoforums.
Message 14 of 14