Capital One holding payments

[SevenNEW]

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@stema8701 wrote:

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

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This is my experience too...

[Anonymous]

Now you know why they are called CRAP ONE.  This card is Not on my Wallet anymore, setup Netflx at $8.00 a month just to have some activity.  CSR told me that I reached my Credit Limit of 1500, so no more increase for me... LOL

[Odiseous]

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@jla84 wrote:

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! 

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My experience with Cap One, AmEx, BofA, Chase, 2 local CUs, GEMB, and Applied Bank; have all been the same. 

If you pay on Friday; don't expect the payment to post until Monday (barring a holiday, which pushes it to Tuesday). 

If you want the funds on Saturday; make sure to pay on Thursday (at the latest). 

Note: It's entirely possible that I'm missing a time cutoff, on Friday.  But; I've always found that a Friday payment, won't clear up the CL for the weekend. 

[snowangel]

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@jla84 wrote:

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! 

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You don't even have to complain.  Just call and ask for them to release the hold.  I've had the same problem with them as well and the CSR said it should end after my 2nd billing cycle.  We'll see though.  I'm still debating on whether or not to close this card.