Barclay Credit card and Payments Holds

[Wolf3]

My wifes Sears MC with CITI has a bizarre rule.   The first 2 payments in the month(billing cycle) will clear the available credit the next day.   The 3rd one always goes to to a 10 day hold.   They usually release it if she calls.    She has had the card for a very long time and it gets a lot of use. 

[Anonymous]

I've been having this issue with the Cap1 rewards card I opened last month. If it's been 48 hours, I call or chat and they release it. My CL is $500 and I've made $1200 in payments in the month I've had it. They tell me after a month or two, they'll trust me and my bank more and the restriction will be lifted, but they're at least good about releasing payments when I talk to them.

[clocktick]

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stanggt03 wrote:
I've been having this issue with the Cap1 rewards card I opened last month. If it's been 48 hours, I call or chat and they release it. My CL is $500 and I've made $1200 in payments in the month I've had it. They tell me after a month or two, they'll trust me and my bank more and the restriction will be lifted, but they're at least good about releasing payments when I talk to them.

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I've had issues with Cap One during the first month or two as well (charges not going through, etc.).  However, they always seem to smooth things out after this "beginner's" period. 

As far as Barclays, I've never had this issue with them and I've made a couple payments >$1000.  I've heard about this though.  Is it possible to not get as close to your limit or to pay extra early?  Their suggestion would probably be to open another card!

Edited to add: didn't realize this thread was 9 months old!

[Wolf3]

After a few months, Cap1 started releasing my credit the next day.

[unlucky_hove]

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@clocktick wrote:

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@Anonymous wrote:
I've been having this issue with the Cap1 rewards card I opened last month. If it's been 48 hours, I call or chat and they release it. My CL is $500 and I've made $1200 in payments in the month I've had it. They tell me after a month or two, they'll trust me and my bank more and the restriction will be lifted, but they're at least good about releasing payments when I talk to them.

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I've had issues with Cap One during the first month or two as well (charges not going through, etc.).  However, they always seem to smooth things out after this "beginner's" period. 

As far as Barclays, I've never had this issue with them and I've made a couple payments >$1000.  I've heard about this though.  It is possible to not get as close to your limit or to pay extra early?  Their suggestion would probably be to open another card!

Edited to add: didn't realize this thread was 9 months old!

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HAHA i didnt realize this thread was that old either . somebody woke it up

[Anonymous]

I realized it was old, but replied since it was brought to life and relevant. Good to know they seem to loosen the restrictions fairly quickly.

[daylove]

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@vollybal wrote:

THe payment for this card was 500 dollars. Not a big thing and not the biggest amonst other cards I have that I have paid off. Other cards I have do not hold me prisoner for making the payment in full.

I understand the reasons that were stated with PenFed. If those were a possibility I would understand. I have never had a NSF and my bank account has been there for over 5 years.

I guess I am just so super pissed off that I am making more out of this than it should be but I really wanted to use this card and this is my only rewards card and I use it for my daily stuff so really they are handcuffing me for 10 days and that is over a third of a billing cycle that I cannot use it. Nice huh!

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Barclays is a foreign bank so they might have different guidelines.

[john398]

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@aamex wrote:

I had know idea about this til I read this thread. I paid 600 on my Barclays card yesterday and sure enough I log into my account, the payment has posts.. but no change in available credit...i don't like this. i've only had them for a few months.

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I just made a payment yesterday morning via Braclays systems it was taking out of my checking overnight however barclays has not yet updated my available credit...oh well maybe by tomorrow

[Open123]

Banks can and do have a right to legally hold funds, for whatever reason.  

Bill pay from your Bank is often more effective in avoiding the holds, but I have had CapOne hold my payments directed from BillPay.  Many creditors seem to implement some kind of hold in the first 6 months.

At the time, I couldn't understand why CapOne would hold a payment sent from my bank's bill pay account.  From my perspective, they have a right to do as they please, just as I--as a consumer--have a right to do likewise.

After the hold, I stopped using CapOne for about 10 years.

[john398]

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@Open123 wrote:

Banks can and do have a right to legally hold funds, for whatever reason.  

Bill pay from your Bank is often more effective in avoiding the holds, but I have had CapOne hold my payments directed from BillPay.  Many creditors seem to implement some kind of hold in the first 6 months.

At the time, I couldn't understand why CapOne would hold a payment sent from my bank's bill pay account.  From my perspective, they have a right to do as they please, just as I--as a consumer--have a right to do likewise.

After the hold, I stopped using CapOne for about 10 years.

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Oh I have no purchases pending so I am ok with the hold...I am sure its because I made a large payment