This seems very wrong....

[sinister]

Okay guys give me your opinion on this one:
We have had a bank account for 1 year with a credit union, they offer a free overdraft protection to ALL of there customers of $500.00. We recently found out our overdraft protection was turned off in August (just about a month before our chapter 7 discharged) because they said we used it a lot. We never abused this priveledge and always had money deposited within a 5-7 day time frame to get the account current (they have a 30 day window to allow you to get current). I talked to them on Friday and they said they would review our account I also sent an e-mail to the president stating how upset we were to lose this as its nice to have in case of emergency etc... they called me later Friday afternoon and said it was back on our account. Well today I get an e-mail from Transunion stating there is a new alert on my credit report, sure enough its the bank. They ran credit on me and I didnt authorize this. Nowhere does it state they run credit for this service and they never ran it in the beginning of opening our account.Can they do this? What should I do?

[HHM]

Let's back up...you haven't really been hurt by this. The occasional credit inquirey is not harmful, and I'd be willing to bet that in your general account disclosures there are quite a few clauses that allow them to do exactly what you described. I wouldn't worry about it.

But honestly, if you used it as much as you said, you aren't really using it for "emergencies" are you?

[sinister]

We did use it for emergencies...to buy groceries at a period when my husband was switching jobs and his pay was spread out. Nothing in there "rules" says anything about how many times you can use it as long as it is satisfied within 30 days.

[Worked4Citi]

We did use it for emergencies...to buy groceries at a period when my husband was switching jobs and his pay was spread out. Nothing in there "rules" says anything about how many times you can use it as long as it is satisfied within 30 days.

That is one instance, if you used it "a lot", buying groceries a few times during a period when you were out of work doesn't really coinside with your story. I would stay, if you don't have the funds, you can't spend it. I think that is the rule that most people live by.

Just shrug it off. You have your overdraft protection back, go ahead and bounce some more checks.

[dingdong]

I would gladly take a hard for 500.00 in OD protection.

Plus you filed bk, your scores are probably in the tank anyway.

They impact your score mimimally (maybe 3 points) and drop off in two years.


I wouldn't worry about it, at least they reinstated, they didn't have to.

[halloweendmb1]

They have the right to pull credit it is in the basic disclosures, I work for a bank. Anyone you owe debt to as well can pull your report without your permission.

[oldhack]

Overdraft protection IS credit. Shouldn't surprise you, then, when the institution offering it treats you like a credit issuer when you use it. Because, in this instance, it IS a credit issuer.