What's the chances of me getting approved for an overdraft line of credit

[Anonymous]

Credit score around 616. Did the pre-qualification forms for all major credit cards and I was not given any pre-approved offers. But I bank at Citibank and I want to change from Checking Plus overdraft protection which simply transfers money from your savings when the balance goes over.

[ojefferyo]

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@Anonymous wrote:
Credit score around 616. Did the pre-qualification forms for all major credit cards and I was not given any pre-approved offers. But I bank at Citibank and I want to change from Checking Plus overdraft protection which simply transfers money from your savings when the balance goes over.

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Are you trying to change it to the checking plus or to something else? I don't see why they would need to pull your credit to change checking types, at least that's the case that I have experienced. 

[Anonymous]

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@ojefferyo wrote:

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@Anonymous wrote:
Credit score around 616. Did the pre-qualification forms for all major credit cards and I was not given any pre-approved offers. But I bank at Citibank and I want to change from Checking Plus overdraft protection which simply transfers money from your savings when the balance goes over.

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Are you trying to change it to the checking plus or to something else? I don't see why they would need to pull your credit to change checking types, at least that's the case that I have experienced. 

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Overdraft protection is a type of credit, so you will get a hard pull, which is something to be aware of. Your score is obviously not great, but I'm not familiar enough with the process to tell you if you will be approved.

[Anonymous]

Ooh. I can't do a hard pull. Might as well not apply.

[ojefferyo]

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@Anonymous wrote:

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@ojefferyo wrote:

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@Anonymous wrote:
Credit score around 616. Did the pre-qualification forms for all major credit cards and I was not given any pre-approved offers. But I bank at Citibank and I want to change from Checking Plus overdraft protection which simply transfers money from your savings when the balance goes over.

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Are you trying to change it to the checking plus or to something else? I don't see why they would need to pull your credit to change checking types, at least that's the case that I have experienced. 

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Overdraft protection is a type of credit, so you will get a hard pull, which is something to be aware of. Your score is obviously not great, but I'm not familiar enough with the process to tell you if you will be approved.

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He stated the overdraft would transfer money from his savings not a LOC to cover the overdraft. I'm assuming he's talking about a checking account since I've havent seen an overdraft for a CC before. 

[Anonymous]

Yes. That's it. The checking plus is what I'm trying to get. I'll give them a call and see at the bottom of the screen it says you just have to have a certain income and at least 1 dollar in the account.

They'll do a hard pull but why would I need a 700 for it?

[ojefferyo]

Citi does a HP for a checking account? That's harsh

[Anonymous]

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@ojefferyo wrote:

Citi does a HP for a checking account? That's harsh

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No they don't 

[Anonymous]

Where do you do a prequal for?

[DaveInAZ]

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@Anonymous wrote:

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@ojefferyo wrote:

Citi does a HP for a checking account? That's harsh

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No they don't 

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No, they don't do a HP just for opening a checking account, they use ChexSystems or EWS for that, to see if you've had problem banking accounts previously. But they always ask if you want Overdraft Protection, and if you say 'Yes', that's a HP as that is a line of credit. And that's the #1 reason why I always say 'No" to OD protection. #2 reason is that I've never had an OD in 45+ years of banking and don;t think I'll start now.