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elvigy
Posts: 83
Registered: ‎07-27-2013
0

Re: Barclays Did It Again...Another Payment Hold...


Desksharp wrote:

I can see the card user frustration. Barclays Rewards cards encourages cardholders to use their card by offering multiple reward points for various purchases. So, if your monthly shopping expenses for groceries, fuel (for vehicles) and ultilities (phones, cable, electric) is $2100 a month, you would receive around 3400 - 5000 rewards points. That's the bait Barclays uses to get the cardholder to use their credit card. However, when you submit a large payment of $2100 to pay off the balance to avoid finance charges they put a hold on your funds for 7 to 10 days regardless if it's an electronic ACH payment (their site or your bank) or a money order by mail. 

Why place such a hold of $2100 on your credit limit (rendering the card useless if your credit limit is $2500)? ACH payments via banks takes two days to clear so why the extended hold? The responses here say it's to protect the lender from fraud or default...... REALLY! The lender has done a credit check on the cardholder and approved a spending limit based on that credit check, so why the extended hold? My guess is they are hindering your ability to amass large rewards points within a billing cycle. 

Yes, the card user can use other credit cards, but Barclays is playing games with their rewards programs. They say there are no limits to the amount of points you can earn, no expiration etc.. but that's not true. They limit the amount of rewards points you can earn by putting a hold on your credit card payment (which has obviously cleared), which prevents the card user from using the credit card because the credit limit does not reflect payment made.

 

  


Sockpuppet much?

 

I haven't had any problems at all with paying Barclays. I set up my auto pay and scheduled an extra payment. It went right through in one day. Granted it wasn't $900 but honestly, that spending pattern just screams risk imho.

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Valued Contributor
FinStar
Posts: 6,117
Registered: ‎10-21-2012
0

Re: Barclays Did It Again...Another Payment Hold...


elvigy wrote:

Desksharp wrote:

I can see the card user frustration. Barclays Rewards cards encourages cardholders to use their card by offering multiple reward points for various purchases. So, if your monthly shopping expenses for groceries, fuel (for vehicles) and ultilities (phones, cable, electric) is $2100 a month, you would receive around 3400 - 5000 rewards points. That's the bait Barclays uses to get the cardholder to use their credit card. However, when you submit a large payment of $2100 to pay off the balance to avoid finance charges they put a hold on your funds for 7 to 10 days regardless if it's an electronic ACH payment (their site or your bank) or a money order by mail. 

Why place such a hold of $2100 on your credit limit (rendering the card useless if your credit limit is $2500)? ACH payments via banks takes two days to clear so why the extended hold? The responses here say it's to protect the lender from fraud or default...... REALLY! The lender has done a credit check on the cardholder and approved a spending limit based on that credit check, so why the extended hold? My guess is they are hindering your ability to amass large rewards points within a billing cycle. 

Yes, the card user can use other credit cards, but Barclays is playing games with their rewards programs. They say there are no limits to the amount of points you can earn, no expiration etc.. but that's not true. They limit the amount of rewards points you can earn by putting a hold on your credit card payment (which has obviously cleared), which prevents the card user from using the credit card because the credit limit does not reflect payment made.

 

  


Sockpuppet much?

 

I haven't had any problems at all with paying Barclays. I set up my auto pay and scheduled an extra payment. It went right through in one day. Granted it wasn't $900 but honestly, that spending pattern just screams risk imho.


+1

 

(old thread btw)

 

I have pushed larger payments from any of my primary banks and directly from Barclays - never had an issue.

 

@ Desksharp - do you have "direct proof" that Barclays works in this method or that their business model is really there to nail a customer with these habits?

Established Contributor
compassion101
Posts: 628
Registered: ‎06-06-2012
0

Re: Barclays Did It Again...Another Payment Hold...

What does sockpuppet mean?

 

+1 to not having any issues with Barclays holding payments in the past

Super Contributor
MidnightVoice
Posts: 8,161
Registered: ‎03-25-2007
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Re: Barclays Did It Again...Another Payment Hold...

[ Edited ]

Desksharp wrote:

I can see the card user frustration. Barclays Rewards cards encourages cardholders to use their card by offering multiple reward points for various purchases. So, if your monthly shopping expenses for groceries, fuel (for vehicles) and ultilities (phones, cable, electric) is $2100 a month, you would receive around 3400 - 5000 rewards points. That's the bait Barclays uses to get the cardholder to use their credit card. However, when you submit a large payment of $2100 to pay off the balance to avoid finance charges they put a hold on your funds for 7 to 10 days regardless if it's an electronic ACH payment (their site or your bank) or a money order by mail. 

Why place such a hold of $2100 on your credit limit (rendering the card useless if your credit limit is $2500)? ACH payments via banks takes two days to clear so why the extended hold? The responses here say it's to protect the lender from fraud or default...... REALLY! The lender has done a credit check on the cardholder and approved a spending limit based on that credit check, so why the extended hold? My guess is they are hindering your ability to amass large rewards points within a billing cycle. 

Yes, the card user can use other credit cards, but Barclays is playing games with their rewards programs. They say there are no limits to the amount of points you can earn, no expiration etc.. but that's not true. They limit the amount of rewards points you can earn by putting a hold on your credit card payment (which has obviously cleared), which prevents the card user from using the credit card because the credit limit does not reflect payment made.

 

  


I have a Barclays card with a $24K limit.  I have used it for a $21K bill, paid it off within a couple of days via my bank's bill pay system (USBank).  Payment left on day 1, hit Barclys on day 2 and was applied to my card on day 3.  Not a single problem.  I then repeated this with a $14K expense, again no problem.

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Contributor
elvigy
Posts: 83
Registered: ‎07-27-2013
0

Re: Barclays Did It Again...Another Payment Hold...


compassion101 wrote:

What does sockpuppet mean?

 

+1 to not having any issues with Barclays holding payments in the past


Specifically, creating an anonymous account to post supportive comments on your own prior posts. It's taken on a more general meaning these days to indicate any activity similar to that. For example, leaving good reviews on Yelp for a company that is paying you to leave good reviews. That kind of thing.

 

And sorry for the thread necromancy. I didn't catch that when replying. :smileysad:

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New Member
Desksharp
Posts: 2
Registered: ‎10-24-2013
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Re: Barclays Did It Again...Another Payment Hold...

No proof .....I'm just sharing my thoughts on the subject. The risk argument is irrelevant to me if the card user has paid for the credit used and the payment has cleared. I don't have this problem but if this is the case and it's a rewards card then I can see the card user frustrations. Barclays is saying "use our rewards card, rack up lots of points, use them anytime, but when a customer sends one large payment or multiple payments to avoid carrying a balance they are hindered from amassing large rewards points by not crediting the payment that has cleared towards their credit limit. Now if this was a regular credit card with no incentives I could buy into the "suspect payment activity" point, but when your spending or use of the card translates into earned rewards, then not posting cleared payments is "suspect on the card issuer not card holder".

Valued Contributor
FinStar
Posts: 6,117
Registered: ‎10-21-2012
0

Re: Barclays Did It Again...Another Payment Hold...


Desksharp wrote:

No proof .....I'm just sharing my thoughts on the subject. The risk argument is irrelevant to me if the card user has paid for the credit used and the payment has cleared. I don't have this problem but if this is the case and it's a rewards card then I can see the card user frustrations. Barclays is saying "use our rewards card, rack up lots of points, use them anytime, but when a customer sends one large payment or multiple payments to avoid carrying a balance they are hindered from amassing large rewards points by not crediting the payment that has cleared towards their credit limit. Now if this was a regular credit card with no incentives I could buy into the "suspect payment activity" point, but when your spending or use of the card translates into earned rewards, then not posting cleared payments is "suspect on the card issuer not card holder".


Again, most of the folks who have responded, including myself, have had no issues with any payment holds - inclusive of large payments.  The world still spins and rewards were unaffected.  I would think this is more borderline on certain risk elements for some individuals since there have been some posts on this topic.  However, your blanket statement does not hold true for all cardholders.

Regular Contributor
awp317
Posts: 243
Registered: ‎08-18-2013
0

Re: Barclays Did It Again...Another Payment Hold...

[ Edited ]

Im sorry but I fail to see why A payment hold is a big deal? as long as its paid on time and they accepted the payment (ie as long as they count and report as ontime) . Whats wrong with not using that card for a few days? 

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Super Contributor
enharu
Posts: 7,008
Registered: ‎02-27-2013
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Re: Barclays Did It Again...Another Payment Hold...


FinStar wrote:

elvigy wrote:

Desksharp wrote:

I can see the card user frustration. Barclays Rewards cards encourages cardholders to use their card by offering multiple reward points for various purchases. So, if your monthly shopping expenses for groceries, fuel (for vehicles) and ultilities (phones, cable, electric) is $2100 a month, you would receive around 3400 - 5000 rewards points. That's the bait Barclays uses to get the cardholder to use their credit card. However, when you submit a large payment of $2100 to pay off the balance to avoid finance charges they put a hold on your funds for 7 to 10 days regardless if it's an electronic ACH payment (their site or your bank) or a money order by mail. 

Why place such a hold of $2100 on your credit limit (rendering the card useless if your credit limit is $2500)? ACH payments via banks takes two days to clear so why the extended hold? The responses here say it's to protect the lender from fraud or default...... REALLY! The lender has done a credit check on the cardholder and approved a spending limit based on that credit check, so why the extended hold? My guess is they are hindering your ability to amass large rewards points within a billing cycle. 

Yes, the card user can use other credit cards, but Barclays is playing games with their rewards programs. They say there are no limits to the amount of points you can earn, no expiration etc.. but that's not true. They limit the amount of rewards points you can earn by putting a hold on your credit card payment (which has obviously cleared), which prevents the card user from using the credit card because the credit limit does not reflect payment made.

 

  


Sockpuppet much?

 

I haven't had any problems at all with paying Barclays. I set up my auto pay and scheduled an extra payment. It went right through in one day. Granted it wasn't $900 but honestly, that spending pattern just screams risk imho.


+1

 

(old thread btw)

 

I have pushed larger payments from any of my primary banks and directly from Barclays - never had an issue.

 

@ Desksharp - do you have "direct proof" that Barclays works in this method or that their business model is really there to nail a customer with these habits?


+2.

 

Lenders withholding payments, isn't abnormal practice. I had my payments held once by Discover and Barclays respectively. It was my first time making a payment that was >5k with them and they just held it for 10 days for security purposes. Ever since then, all payments have went through without any hold. I haven't exactly pushed the envelope with them and tried making a payment that is >10k with Barclays, since I don't even use that card much nowadays, but I am pretty sure they will hold the payment again if I tried. Honestly it's no big deal.

 

 

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Established Contributor
compassion101
Posts: 628
Registered: ‎06-06-2012
0

Re: Barclays Did It Again...Another Payment Hold...

lol sockpuppetaments


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