Cap one account holds?

[farmgirljen]

Why do they put holds on accounts when the balance is paid in full automatically online using a checking account?  Do they do this alot? I had to call them and ask them why my balance was still not updated when I had paid in full over a week ago.... This makes me not want ot use their card much if I am going to have a hassle every time I use it...lol.

[ncks]

If it's not something you have done a few times in the past they do it to make sure they receive the funds.  Also, if you have had the account for a while and have paid in full before with no return checks you can call and ask them to release the hold.

[farmgirljen]

I could see doing it to make sure a check has cleared- but this was an auto payment directly from my account-funds were removed immediately, and had been posted as paid for over a week...And the funds had been out of my account for over a week. They removed the hold immediately when I called and questioned them about it.... I just don't get why they do it with auto payments...lol.

[ngerasimatos]

There is another thread on this, but basically if you make a payment that is larger than ordinary they place a hold on it. They will also place a hold on checks if the payment amount is greater than your current available credit.

I am assuming they do this to protect themselves in the advent that the payment doesn't clear and Mr Customer goes out and spends on the card with the "provisional" applied payment. 

[Wolf3]

It is not uncommon to hold the account for a few days.    Even though it is automatic, it can still be returned for insufficient funds and that could take a few days depending on which bank.