Protection Line of Credit

What is the Regions Protection Line of Credit?

It’s a small, revolving line of credit that allows funds to be borrowed, repaid and then borrowed again for overdraft protection needs. The line of credit is made available to Regions customers by email or online invitation only.

How does the Regions Protection Line of Credit work?

• This is a small line of credit that will be linked to your Regions checking account for overdraft protection coverage.
• When used for overdraft protection, advances made in $10 increments will be debited from your Regions Protection Line of Credit and credited to your linked Regions checking account(s).
• If the available balance of the line of credit account is less than $10, or the available balance of the line of credit is less than the $10 increment that otherwise would be transferred to cover the amount of the overdraft, we will transfer the full amount of the available balance of the funding account to the linked checking account.
• If the checking account still has an insufficient available balance to pay an overdraft item even after we advance available funds from the line of credit, we may return the item or pay it into overdraft.

Can the Regions Protection Line of Credit be linked to more than one deposit account?

Yes. After activating the line of credit, you may link the line to your other checking accounts through the Manage Overdraft Protection feature in the Customer Service section of Online Banking.

What happens if I already have overdraft protection linked to my checking account from another deposit account like a savings account?

When you activate the Protection Line of Credit, you acknowledge that we will unlink any existing overdraft protection and link the Regions Protection Line of Credit to the checking account you designate.

What happens if I unlink my checking account from the line of credit?

If you unlink the checking account from your Protection Line of Credit, the line of credit account will be closed within 10 days. The line of credit account will stay open if you re-establish the link to your checking account before the 10-day period expires.

What is the minimum payment on the Regions Protection Line of Credit?

You must pay at least the minimum payment within 10 days after the payment due date shown on your monthly billing statement to avoid a late fee and keep your line of credit in good standing.

Will it help my credit score if I pay more than the than the line of credit amount?

Do not pay more than the credit limit on your account. Your credit score will not benefit from this overpayment and we will issue you a refund for any payment over the line of credit.

What if my Regions Protection Line of Credit payment is late?

• If you don’t make your payment within 10 days after the payment due date shown on your periodic statement, we may charge you $10. Failure to pay can result in account default and closure.
• We report account activity to credit bureaus, so based on how you manage your payments it could positively or negatively affect your credit score.
• For convenience, you can set up automatic payments so you don’t have to worry about remembering payment dates.
• Already have your account and want to set up an Automatic Payment Option? Access the Automatic Debit Authorization form, then complete, print and follow the directions in the form to process your request.

How can I access my line of credit?

The Regions Protection Line of Credit should be used for overdraft protection; however, we do understand that unexpected expenses can occur. If you need to access your line of credit for reasons other than overdraft protection, please visit your nearest branch, contact us by calling 1-800-231-7493 or make a transfer through Online Banking.

Is there a minimum amount for each advance?

For advances made to cover overdrafts, there is no minimum requirement. Increments of $10 (or less based on available balance of the line of credit) will be made to your linked checking account to cover the overdraft. For advances made other than overdraft protection needs, there is a $10 minimum.

Are there any fees for this account?

No, there is no annual fee, overlimit fee, transfer fees or cash advance fee to use this line.

What is my interest rate?

You will pay a 1% monthly interest charge (12% APR) on your current balance at each statement. View Regions Protection Line of Credit product details.

Can I request a higher credit limit?

No, credit limits are based on your deposit activity, account balances, and overdraft history and are set upon activation. While you can’t request a change, if you need access to more money, talk to your Regions banker about other options like a Regions Preferred Line of Credit or Unsecured Personal loan.

How does this account affect my credit report?

We don't check your credit history or credit score to determine your eligibility in order to open the account. Note that, once you've activated your offer, the account and your activity are reported to credit reporting agencies, so it could affect your credit score. Information reported includes the credit line amount, how much you use, and your payments.

What are the requirements to qualify for Regions Protection Line of Credit?

General eligibility requirements include but are not limited to, the following:

• An open checking account for at least 12 months with a deposit of at least $100 in the past 35 calendar days.
• Enrollment in online banking.
• Your checking account cannot be overdrawn for the past five consecutive calendar days.
• Your checking account cannot have more than 20 overdrafts in the previous three statement cycles.
• No active or recent bankruptcy or other legal process.
• All account holders must be 18 or older.
• Your mailing address on file must be in Regions footprint (Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Mississippi, Texas, Kentucky, Missouri, South Carolina, Tennessee Louisiana, or Texas).
• No existing Regions unsecured line of credit (e.g., credit card or other line of credit).
• No previous unsecured line of credit with Regions that was charged off with a balance still unpaid.

How do I know if I am eligible for a Regions Protection Line of Credit?

Customers who are eligible will receive an email with their offer details and notification ad in Regions Online Banking. If you don’t see the ads in Online Banking or no longer have your email, you can check for any current online offers in Online Banking by going to Products, then the Personal Banking tab, then select the Online Exclusive Product link.

If I’ve lost my offer email or don’t see the ad for my offer in Online Banking, how can I check to see if I’m eligible?

If you don’t see the ads in Online Banking or no longer have your email, you can check for any current online offers in Online Banking by going to Products, then the Personal Banking tab, then select the Online Exclusive Product link.

I received an email offer for Regions Protection Line of Credit, but when I log into Online Banking it says my offer cannot be completed at this time. Why?

When you try to activate your offer, you must be a primary owner of an active checking account. Once you establish a new checking account, you can attempt to activate your offer again prior to your offer expiring.

If I close my linked Regions checking account, do I still have access to my Regions Protection Line of Credit?

If you don’t maintain a checking account with Regions or that checking account is not linked to the Regions Protection Line of Credit for overdraft protection, we reserve the right to refuse your request for any future advances and may suspend and/or terminate your credit line account.  

If I’m a new Regions customer, how long before I know if I’m eligible for Regions Protection Line of Credit?

Regions Protection Line of Credit is available to customers once they reach all eligibility requirements, including having a checking account established for 12 months with an average daily balance of $400 or more for six consecutive months, and $100 or more in monthly deposits in the past 35 days. Learn more about other overdraft protection solutions.

Does Regions offer other overdraft protection services?

Yes. Learn more about other overdraft protection solutions.

Is credit used in determining eligibility?

No, we do not check your credit score prior to you activating your line of credit offer, however once you have established the account, we will report account activity such as open date, line usage and payment history immediately afterwards.

How does opening a Protection Line of Credit account impact my credit?

Although we don't look at your credit history or credit score to determine eligibility, the Regions Protection Line of Credit will be reported to credit bureaus as a new account. For specifics on how these could impact your credit, we suggest you check with the credit reporting agencies. Federal law allows you to get a free copy of your annual credit report  every 12 months from each reporting company.  

How does my account balance/utilization rate or payment history impact my credit score?

We will report the Regions Protection Line of Credit and its current balance and payment history to the credit bureau on a monthly basis. For specifics on how these could impact your credit score, we suggest you check with the credit reporting agencies. Federal law allows you to get a free copy of your annual credit report every 12 months from each reporting company.

Interested in ways to help build credit without taking on debt? Learn more about the Rent and Bill Reporting tool from Self, a service that can help you build your credit history by reporting payments you already make. Learn more about how Self can help you build your credit.