Can anyone please advise me on what I need to do to get approved for my credit union's overdraft protection?
Are the underwriting guidelines different than for the credit card? Have the card, but was denied for overdraft.
If anyone has any insight so I may be approved in the future....I sure would appreciate it.
Starting Score: 722I have researched for myself and have found that there are different underwriting guidelines.
Overdraft lines of credit are considered unsecured loans so they are a tad bit stricter.
Hope this helps anyone else out there trying to have a more balanced or well rounded credit file.
@nomoore wrote:I see you have a TU04 FICO score of 735. That's a good score for them to deny you, assuming all your scores are near that. Did they say why they denied you? Is there anything on your other reports that might lower the score if they pulled one of the other credit bureaus? Also, maybe you have something bad on your ChexSystems report that made them deny you.
Yeah. They always pull EX and they said my score was in the high 600's (Ouch). That is the lowest score I have gotten. But there is a 6mo. late pay from 4 years ago that I am waiting to have removed. Didn't realize my score had dropped so low. Last it was near 720 from them from EX.
That late pay may be a factor, but I think it has to do with cards being less than a year old and tons of inquiries. In a minute I am going to stop paying for scores. Too big of a gap for me.