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I noticed something unique with Amex cards payments using my BoA Checking Account.
For me this happens all the time. If I make a Amex CC Payment around 2:00 PM, the available credit will be increased immediately and the wierd thing is Amex deducts the amount from my Boa Checking account within like 3-4 Hours of the payment time.
All my other CC payments takes atleast a day to deduct the amount from my checking account.
May be amex has some relation/deals with Boa so that they can process the payment immediately.
Yes, I have Checkings with Chase, Boa, Citi, WF and all. But for me Amex always has the ABILITY to deduct the payments just withing 4 hours of my payment time. None of my other cards, does this.
Also, most of my payments (sorry ALL cards) will clear on the midnight of that day and will be available next day.
I also have a BoA account.
When I use AMEX's online or mobile app to pay, the money is withdrawn by the end of the business day (say I do a payment in the morning, the money is usually out of my account by 4:00pm). The balance is updated the next day.
If I use BoA's bill pay, the money is withdrawn the same night but not credited to the account for two days. They have a "Deliver By" date, which is usually the next day (the money gets withdrawn the night before that)...the account is credited and balance decreases one day after the Deliver By date.
Wow!
But are you sure, if you make the payment from Amex website, the CL will not be increased immediately.
For me they always increase the available CL, just as soon as I click submit for my payment.
Not sure, how they do this differently to you.
Also, if I make Chase payments, they for first three months took 1 day to increase availble CL. Now, they will take the amount from the mid-night, but increase the CL available immediately.
@newUser0 wrote:Wow!
But are you sure, if you make the payment from Amex website, the CL will not be increased immediately.
For me they always increase the available CL, just as soon as I click submit for my payment.
Not sure, how they do this differently to you.
Also, if I make Chase payments, they for first three months took 1 day to increase availble CL. Now, they will take the amount from the mid-night, but increase the CL available immediately.
Well, I have a PRG (a charge card) so available CL is not an issue...the balance won't decrease until the next day.