Capital One holding payments

[jla84]

I have a Capital One No Hassle Rewards card with CL of $500. Got it in July. This month I racked up a balance of $466 and then paid it off this Friday. The payment went right out from my checking account and the balance changed to zero. Saturday I went fall clothes shopping and tried using the card for a total of $138. Since the balance was $0, I figured everything was fine. WRONG. The card was declined and I was mystified. Checked the available credit line on their phone app and found out that the credit line was still $33! I had the money for the purchase in my checking account, so I just used my debit card, but I really wanted that rewards cash from using my Capital One card! I called customer service and the CSR told me they were holding my payment for 5 days - without any notice to me at all. To their credit, the CSR immediately changed the available credit to $500, but I'm still annoyed. How do they expect you to be able to use their card when they give you such a small credit line and then hold your payments for a week?! 

My question for people with this card - do they ever stop holding payments or is this something they do every time? From now on I'll be checking the available credit lint before making a large purchase, but man is that annoying! 

[Dustandshadow13]

I have paid off large balances on my Capital One cards twice. Once for about 500 and another for about 700. Both times they waited about a week before giving me my available credit back. Though as you discovered, if you really want to use it a phone call will most likely solve the problem.

If you pay online it does tell you they may do this. it says "The availability of funds may be delayed at Capital One's sole discretion to ensure payment in good funds." underneath the posting timeframes.

[stema8701]

They usually do that the first few months to know your payment habits and then after that it goes smoothly...

[coldnmn]

Did exactly the same thing to me. After about six months they will make it available the next day. I had to call them each month to release the payment. They didn't list it as available after I made the online payment the following month, after they listed it as available and then declined the payment. I gave them an ear full at the time, looks like it didn't do any good. 

[Walt_K]

Have you tried setting up your bank account to push a payment to Capital One.  That might make it credit faster.  Not sure though.

[missji]

I had a payment held once ($489 on card with $500 limit) when paid through the Cap1 site. Payment of $476 through my bank's online bill pay was not held.

[jasimae]

Cap One has done this to me too.  Although it was several months ago.  I paid $900 (way before the payment cutoff time) and noticed the next day that it hadn't posted.  Luckily for me, I am the type of person who checks my balances day in and day out.  I get text messages and the whole nine yards, so when I woke up the next day and saw it wasn't there I freaked and called them.  They told me they were holding it and I argued for a minute and then they released it.  After that, I never had any problems when it came to making large payments again.  So I have to +1 the earlier remark about them wanting to get to know your payment habits.

[KIPPIE12]

I  think it's happened to most of us at one point or another with them. It's happened to me as well, and i used to use that card heavily each month.  Now it sees a cup of coffee every six months or so.

[shane82388]

Ive had a captial one platinum for years and they recently didnt apply charges made in august against my credit limit until a good ways in to september. If I  wasnt watching closely, i would of thoguht i had way more credit limit room and charged stuff on that card, and when these old charges finally would have appeared and counted against my available credit, I would of been over the limit!

SOOO SHADY!

[jla84]

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@KIPPIE12 wrote:

I  think it's happened to most of us at one point or another with them. It's happened to me as well, and i used to use that card heavily each month.  Now it sees a cup of coffee every six months or so.

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I can't wait until I can do that!

Sounds like I just need to suck it up, watch my available credit, and complain to them whenever they hold a payment. Hopefully in a few months they'll take the hint and stop holding payments. And hopefully in another few months after that, I can sockdrawer this dang card!