5/3 Bank Credit Card Payment.

[Anonymous]

I made a payment yesterday and my available credit was credited today, but then I get an alert that my card was charged by a merchant in the amount of the payment I just made. I called just to make sure and yep they just want to hold the payment until the funds actually clear before they replenish my account. I’m fine with that, but they need to find a better way of doing it.

[CreditMagic7]

PUSH your payments through. Not pull.

When you PUSH your card payments the amount is instantly already deducted from your account and SENT.

Then the only way a payee can refuse it if there is some critical error within the transit system itself which i personally never seen happen once, or they don't want your money.

[CreditCuriosity]

Alot of people like pushing where-as I like pulling as I feel the lender knows from their side it was pulled.  Guess two different schools of thoughts lol.  Just my preference is pull vs. push, but ocassionally push on odd ball CC's

[Anonymous]

I’m going to try the push method. I just set-up my bill pay and have a couple of payments scheduled. Thanks for the suggestion. I too like the pull method usually, but this thing with 5/3 bank has me trying another option.

[longtimelurker]

What was the concern here?   The confusing alert? 

Because otherwise pushing and pulling have basically the same end result.   When you pull, in this case 5/3 won't credit it till they get the money.   If you push, 5/3 won't credit it till they get the money....

I too prefer pull because it becomes more of their responsibility (assuming there is enough money in the bank account).   If you push and something goes wrong,  you will have to argue more to get rid of late fees etc.   IMO, push only makes sense to overcome some pull limitation (that you really want/need to overcome!) such as maximum number of payments a month, or wanting to prepay for a pending purchase.

[Anonymous]

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@longtimelurker wrote:

I too prefer pull because it becomes more of their responsibility (assuming there is enough money in the bank account).   If you push and something goes wrong,  you will have to argue more to get rid of late fees etc.   IMO, push only makes sense to overcome some pull limitation (that you really want/need to overcome!) such as maximum number of payments a month, or wanting to prepay for a pending purchase.

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My thoughts exactly