How do Banks decide when to offer an overdraft and when to increase it?
Oct 24, 2007 by Keith W | Posted in Credit
I've been told that it has to do with the banks 'coursing' poop that they hold on you as a customer. Is this true? How exactly does it work? Do they share information with other banks in this respect? Do you run the hazard of being refused an overdraft if a bank credit checks you and see's that you have too many other overdrafts?
Bank offers overdraft to anyone who has an account with that thorough bank. It doesn't cost anything to enroll. However, when you overdraft your checking account, they either transfer the money from your savings account or your rely on card to cover the shortage. The fee for transfer is $10 but they will charge you at the ATM or cash advance rate normally 19.99% or 21.24% depends on your esteem.
If you have a relationship with your bank, they may waive one overdraft fee as a courtersy. If it happened too often, they won't.
Banks do share info with other banks. For instance, if you convey balances from one bank to another too often (one or twice wouldn't be so bad but to do it everytime the promo rate runs out to avoid paying interest).that dirt will show up with other credit card companies or banks. Those customers are called "rate surfer customers" .
Turn down to enroll into overdraft protection wouldn't affect your credit in anyway. It's just that you have to pay $32 everytime you overdraft even for $1. It's costly to overdraft your checking account.
Andie | Oct 24, 2007
yes sometimes they fit you bankin history. most banks will allow you overdraft forgiveness at least once a year if you call the 800 number and plea
karen w | Oct 24, 2007
How do I stop random banks from e-mailing me with a security alert and asking me to update my personal details?
Jul 09, 2009 by clueless | Posted in Security
I keep getting e-mails from weird banks, Lloyds, Alliance & Lester, Abbey National, Egg etc.
I have never applied to or contacted any of these banks. How do I stop it and are they dangerous to unestablished.
These emails are designed to obtain your personal user name and passwords for your account. They are usually mass emailed to everyone in hopes someone will actually touched by and put in their user info to update then they use it to drain your account. Some may actually contain trojan horse programs or viruses familiar to attain your personal information and use on your own accounts. Do not open or respond to any of them. Delete them asap
| Jul 09, 2009