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I Don't know, but that is what it said. I even opened on for DH and his was $250.

Maybe b/c I don't have much of a savings.

 

Not worried though. $250 is fine with me.

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It seems that perhaps now that it is open to everyone, they've lowered the LOC. It might also be proportional to your opening deposit, as mine was only $12 (the remainder of what I had in my savings account with ING).

 

AFAIK, they pulled NO report for the LOC. It's automatic. It took me literally seconds to open my account, so I don't think they pulled a report. FWIW, I also received a $250 OD/LOC.

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Seems the call center does not know people are getting lower amounts as she told me it was 1000 od for everyone. She also said that any amount over is charged 12% a day until paid off.

 

Stepthirteen

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Does anyone know what CRA they pull for the LOC/overdraft protection?

 

They didn't pull any for mine.

 

I got the $1,000 LOC and only transferred $5 from savings to open EO. That's weird.

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I got $250 LOC, and transfered $100 from ING savings, and $50 from my local checking account.

 

I set up a bill pay, for my auto insurance--will be curious to see how quick it clears.

 

The bill pay will be nice, I have a few straggling companies (gas, electric, HOA dues) that do not offer online payment..

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Wow, that was fast! Logged into my ING Savings account and opened an Electronic Orange account in < 1 minute. Just clicked on a couple buttons, funded it with an initial $1.00 deposit and it was opened with a $250.00 OD LOC. Can't wait to get my debit card! :rofl:

 

Can anyone confirm if you only earn interest on your balance *until* you conduct 6 transactions in a month? Is that a rumor or fact?

 

Thanks!

Paul

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Looks like Electronic Orange is not available to everyone quite yet; they probably just opened it up to a lot more existing customers this time.

 

I just checked SO's account (opened & confirmed December 30, 2006) and the Electronic Orange link is not available. YMMV.

 

Best,

Paul

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I opened a savings account on 11-29-06. I just opened my checking account with 1.00 and received a $250.00 LOC for overdraft.

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Just wanted to update everyone here that ING did a soft on TU for me yesterday when I opened the account, so they are reviewing credit for the accounts. Just an FYI.

 

Stepthirteen

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Looks like Electronic Orange is not available to everyone quite yet; they probably just opened it up to a lot more existing customers this time.

 

I just checked SO's account (opened & confirmed December 30, 2006) and the Electronic Orange link is not available. YMMV.

 

Best,

Paul

 

rumor is that if you call, they will open EO for the asking...

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When I called they told me that it was a no go and I would have to wait for the roll-out on February 1, but of course as always YMMV.

 

Stepthirteen

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Looks like the $1K LOC is no longer offered to everyone, as the reference to that amount was removed from ING's website. See below:

 

-------

Say goodbye to excessive NSF fees charged by other banks. When you open your Electric Orange, you'll automatically get an Overdraft Line of Credit that's connected right to your Electric Orange and is accessed anytime your balance goes below $0.00. There's no fee to use the line of credit – you'll just pay a competitive interest rate on the money you need to borrow.

-------

 

I would venture to guess that there will still be some people who get the $1K, but that the majority will get a lower amount (such as the ones here who report being offered $250).

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I just log into my savings account, went to "Products and Rates" and opened a EO checking account.

 

My TU is in the low 500's and I'm in chex, so have to see what happens next. They did give me an account, opened with $20 transfered from my bank. I have $4.75 in the savings :(

 

It says my card will arrive 5-7 days, :stop:

 

 

OH: it says my overdraft is $250

Edited by *KC*

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When I called they told me that it was a no go and I would have to wait for the roll-out on February 1, but of course as always YMMV.

 

Stepthirteen

 

That sucks. I read that some CBers were able to call and get it set up for the asking. They didn't receive and email or have the link available on their account...

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When I opened mine two weeks ago they offered the $1K LOC. I still have it along with my other accounts. Maybe they do it based on how long you've been a saver with them ?

 

It's not unusual for banks to offer relationship-based service.

Edited by El Chiste

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Looks like Electronic Orange is not available to everyone quite yet; they probably just opened it up to a lot more existing customers this time.

 

I just checked SO's account (opened & confirmed December 30, 2006) and the Electronic Orange link is not available. YMMV.

 

Best,

Paul

 

rumor is that if you call, they will open EO for the asking...

Sweet. I'll have him call them and ask for EO since the link isn't showing up yet.

 

For those who tried calling and it was a no go, call again. A "no" from one rep isn't necessarily a firm "no".

 

Best,

Paul

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Finally got the invite in my account :P

 

Opened with a whopping $10 - transferred from my external checking. I also got the $250 OD, not the 1K. I have almost a 780 TU FICO, so guessing it is NOT FICO based. I have around 4K in savings.

 

:D

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Finally got the invite in my account :yahoo:

 

Opened with a whopping $10 - transferred from my external checking. I also got the $250 OD, not the 1K. I have almost a 780 TU FICO, so guessing it is NOT FICO based. I have around 4K in savings.

 

:clapping:

 

Hmm, they must have had second thoughts about giving those 1k locs out and decided scale back...

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Finally got the invite in my account :angry:

 

Opened with a whopping $10 - transferred from my external checking. I also got the $250 OD, not the 1K. I have almost a 780 TU FICO, so guessing it is NOT FICO based. I have around 4K in savings.

 

:rofl:

 

Hmm, they must have had second thoughts about giving those 1k locs out and decided scale back...

Maybe... really doesn't make much of a difference to me. I haven't decided if/how much I'll even use the account. And since I haven't used an OD since 1996, the amount means nothing to me. It doesn't report unless you use it so it's ok.

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