That's what I did when I opened a new account. They asked me if I wanted overdraft protection and I said, No thnaks, I found that the interest was too high when I used it." I was like you and was using my overdraft protection as a credit line and then, of course, you don't pay it back right away and boom - there is where they are making the money.
My credit union took it a step further and when I hadn't used the overdraft for over a year, they posted a payment before crediting my paycheck (which always arrived at 6:30 am) and thus I re-started the protection. That is one of the reasons I changed banks.
My credit union took it a step further and when I hadn't used the overdraft for over a year, they posted a payment before crediting my paycheck (which always arrived at 6:30 am) and thus I re-started the protection. That is one of the reasons I changed banks.
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