I got myself into a big jam. I owe about $500 on the checking account/debit card. So my account is -$500. I would try to put cash in the account, but unfortunately I'm collecting unemployment and my check wouldn't even cover half of it. What I want to know is, could I apply for another credit card and half and have the amount on the debit card transferred to the new card. The main issue is that I just can't put any cash in my account. I am still getting offers for credit cards though. Any other advice? I am barely making $250 a week on unemployment, so my options are limited at this point.
Have you tried calling your bank yet? I've been in a similar situation and I know the last thing I wanted to do was call, but I went ahead and explained my situation and asked if there was ANYTHING they could do to help - they ended up crediting 1/2 of the overdraft charges. Maybe worth a shot for you if you haven't tried it already.
If you do call your bank ask if they have overdraft protection. So if you go over in checking account the bank can tap into your overdraft protection automatically to cover your shortages. You can pay the overdraft in small amounts or a lump sum. The APR maybe a bit high and there may a transaction fee. Best regards, Mirage
Calling the bank is good advice. Avoiding the issue is a bad idea. If you do nothing, and the bank closes your account, you're going to be reported to one or more of the check verification services, and you won't be able to open a checking account for several years. Talk to the bank manager. They'll probably work something out that will keep you out of trouble.
