Cap 1 and "available credit"

[LilloEsquilo]

That company has some, um, "interesting" ways of doing things. Case in point - I paid my balance yesterday so my balance is 0 today but 10 dollars and a few cents remains off of the available credit on the card even though that's only a fraction of my payment amount (I have no idea where the 10 dollars and some odd cents comes from as it doesn't correlate to anything I used the card for).The payment I gave them was the 37 dollar balance.

All I can say is these guys have a diferent way of doing things. I'd call and ask, but if I get "Peggy" I'll wish I hadn't and I won't know a thing more than I do right now (though if you get into that kind of thing listening to the lies and stories they make up on the fly can be entertaining). Anyone know the reasoning behind that, or is this just yet another case of Cap 1 being Cap 1?

By the way the card is SD'd I have NO plans to use it ever again, and I mean ever. That is a company I can't get rid of fast enough to suit me. The more I deal with them and the more I read, the less I can stand them. They should answer the phone "Spawn of Satan Inc how may I abuse and lie to you?" You can today and get Peggy A and Peggy A tells you X in response to your questions and if you call tomorrow and get Peggy B you'll likely get a completely different answer. True story. Might as well ask your "Magic 8" ball, the odds would be about the same.

[john398]

Well if you pay  on a Friday sometimes they do not update til Monday morning on Cap 1

[sdoonan]

Did you use it for gas since paying your bill, or anything else where an authorization might have been put on your account for unknown expenses? I imagine it couldn't hurt going over your pending transactions with a CSR (it might frustrate you, but if something's not right, they'll transfer you to the fraud department, which in the one time I to deal with them was a very pleasant experience.)

[pizzadude]

I think that this is your remaining balance, a few dollars of interest from the balance you carried perhaps ??

For most of us who have been rebuilding, Cap1 exceeds their usefulness at some point, depending on where they stop giving out CLIs.

They do have some good non-~rebuilder rewards cards, and those can offer large CLs.

[sdoonan]

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@pizzadude wrote:

I think that this is your remaining balance, a few dollars of interest from the balance you carried perhaps ??

For most of us who have been rebuilding, Cap1 exceeds their usefulness at some point, depending on where they stop giving out CLIs.

They do have some good non-~rebuilder rewards cards, and those can offer large CLs.

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Case in point: I only got the card so that I didn't have to eat 3% everytime I wanted something while I'm abroad this month. It'll be SD'ed and possibly cancelled sometime after the expected May CLI increase from Credit Steps. I also hope to replace that CL with a Chase Freedom card, but I want some time to pay down my balances (except for the AMEX Platinum - the original cardholder on that has a much larger income and has his law firm reimburse him for some expenses; therefore, not much I can do to make a dent in the util on that one.)

[LS2982]

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@LilloEsquilo wrote:

That company has some, um, "interesting" ways of doing things. Case in point - I paid my balance yesterday so my balance is 0 today but 10 dollars and a few cents remains off of the available credit on the card even though that's only a fraction of my payment amount (I have no idea where the 10 dollars and some odd cents comes from as it doesn't correlate to anything I used the card for).The payment I gave them was the 37 dollar balance.

All I can say is these guys have a diferent way of doing things. I'd call and ask, but if I get "Peggy" I'll wish I hadn't and I won't know a thing more than I do right now (though if you get into that kind of thing listening to the lies and stories they make up on the fly can be entertaining). Anyone know the reasoning behind that, or is this just yet another case of Cap 1 being Cap 1?

By the way the card is SD'd I have NO plans to use it ever again, and I mean ever. That is a company I can't get rid of fast enough to suit me. The more I deal with them and the more I read, the less I can stand them. They should answer the phone "Spawn of Satan Inc how may I abuse and lie to you?" You can today and get Peggy A and Peggy A tells you X in response to your questions and if you call tomorrow and get Peggy B you'll likely get a completely different answer. True story. Might as well ask your "Magic 8" ball, the odds would be about the same.

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Can you explain this a little more, You made a 37 dollar payment and they only credited you 26 dollars and some odd cents??? What was their reasoning?

[LS2982]

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@pizzadude wrote:

I think that this is your remaining balance, a few dollars of interest from the balance you carried perhaps ??

For most of us who have been rebuilding, Cap1 exceeds their usefulness at some point, depending on where they stop giving out CLIs.

They do have some good non-~rebuilder rewards cards, and those can offer large CLs.

---

+1

I haven't really had any problems with Cap1 except for the early stages of acct with holding payments and the fraud earlier. But 99% of the situations can get handled quickly by speaking with Sr. Acct. Reps instead of frontline reps.

[LilloEsquilo]

Thanks for your responses guys. To answer your questions, some snip it posts I think will be helpful:

Now, prior to paying that, I had a balance of 37.68. I have no other transactions on the card, I've only had it less than a month (no interest obviously) and there is nothing else going on, I show no pending transactions.

So, I have no idea why my available credit is less than my credit limit when I have no balance, no interest and no transactions pending. And I just noticed that it's actually like about 50 dollars they are leaving out rather than 10. My bad on that. But I'm sure you can see what I'm saying now.

[LS2982]

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@LilloEsquilo wrote:

Thanks for your responses guys. To answer your questions, some snip it posts I think will be helpful:

Now, prior to paying that, I had a balance of 37.68. I have no other transactions on the card, I've only had it less than a month (no interest obviously) and there is nothing else going on, I show no pending transactions.

So, I have no idea why my available credit is less than my credit limit when I have no balance, no interest and no transactions pending. And I just noticed that it's actually like about 50 dollars they are leaving out rather than 10. My bad on that. But I'm sure you can see what I'm saying now.

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Which card is this??? If its the No hassle cash card I believe there is a $39 AF with that card. This may be a AF hitting the acct.

[pizzadude]

@sdoonan wrote:

Case in point: I only got the card so that I didn't have to eat 3% everytime I wanted something while I'm abroad this month. It'll be SD'ed and possibly cancelled sometime after the expected May CLI increase from Credit Steps. I also hope to replace that CL with a Chase Freedom card, but I want some time to pay down my balances (except for the AMEX Platinum - the original cardholder on that has a much larger income and has his law firm reimburse him for some expenses; therefore, not much I can do to make a dent in the util on that one.

You are right, the no FTF is one of the few perks that comes with every Cap1 card, so it can save you $$ when travelling abroad.

Don't worry about the balance on the AMEX ~ newer versions of FICO are smart enough to not include it in your %util because it is a charge card, only the older TU version here at myFICO ( TU 98 ) I believe, still includes it in your util.