Your credit report is in danger when using an overdraft protection account with Wells Fargo.
When your overdraft protection account reaches its maximum amount Wells Fargo has a policy that ads an additional 2 % of your limit to your account. Example if your limit is $3,000 they will ad an additional $60 taking you to $3,060 which puts you over your credit line.
This may seem like a nice feature to help you avoid overdraft charges but as soon as this occurs they send a complaint to all three credit reporting agencies stating you have exceeded your credit line. This can cause your credit score to drop maybe as much as 30 points.
The drop in your score can have a direct effect on your ability to secure favorable terms in any transactions with Wells Fargo or any other company.
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