Discover Card Owners - Help?

[dallasareaguy]

Hello, I got a new Secured Discover in early February.

I made some charges and paid 40% of the balance off on March 2nd. I then on March 7th paid off the remaining 60% balance.

I figured since the card is secured and new that there would be initial holds on my payments. It is now 8 days after I made the payment and it hasn't given me credit.. still says I only have $18 available of my $500 initial limit. I spoke to a rep who said there could be holds initially.

My question is... should I expect there to be lengthy 8+ day holds everytime I make a payment to this secured card or will they loosen-up once they see several payments go through? Are there any limits to how many payments I can make a month?

With Capital One, If I make a $2500 payment at 6pm, it posts to my account that evening late and the credit is available shortly after midnight for me. I'm just trying to understand Discover, because when I make a payment at 6pm, it doesnt come off my balance until end of day the following day.. but shows credit for it the day I make it.

Any help from the Discover knowledgeable would be appreciated. I want to use this card alot.

[ojefferyo]

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@dallasareaguy wrote:

Hello, I got a new Secured Discover in early February.

I made some charges and paid 40% of the balance off on March 2nd. I then on March 7th paid off the remaining 60% balance.

I figured since the card is secured and new that there would be initial holds on my payments. It is now 8 days after I made the payment and it hasn't given me credit.. still says I only have $18 available of my $500 initial limit. I spoke to a rep who said there could be holds initially.

My question is... should I expect there to be lengthy 8+ day holds everytime I make a payment to this secured card or will they loosen-up once they see several payments go through? Are there any limits to how many payments I can make a month?

With Capital One, If I make a $2500 payment at 6pm, it posts to my account that evening late and the credit is available shortly after midnight for me. I'm just trying to understand Discover, because when I make a payment at 6pm, it doesnt come off my balance until end of day the following day.. but shows credit for it the day I make it.

Any help from the Discover knowledgeable would be appreciated. I want to use this card alot.

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Check your bank to make sure it has cleared your account and if it has give Discover a call and they will call your bank while you're on the phone with them. Once all done and said they will release the hold immediately. After a few payments there won't be any holds on your account, they just need to get used to your payment pattern. 

[Creditplz]

Discover is usually slow on taking payments from me, but if you linked a new bank account that could cause some delays on them withdrawing the funds, and I agree verify with your bank on when they withdrew the funds.

[myjourney]

As a new card holder some banks DO hold the 1st payment (slow to process) but you won't have that problem in the future 

So no don't expect a 8 day hold in the future 

[jbsea]

You could also do bill pay from your bank.  I would think that they would reliease it right away as soon as they receive it.

[dallasareaguy]

Thanks all. I checked and it was withdrawn within 12 hours of me making the payment each time.. so they got the funds very quickly. The 8 day hold has just been kind of nuts.. not used to that ;-)

[Anonymous]

FWIF

I've had Discover (not secured) since October and they are SLOW...the slowest company I deal with,

even w/ posting charges from vendors.

When I charge bubble gum on a Cap1 cards it alerts in before you can blow a bubble

With I shipped a UPS package on Monday expected delivery on Friday USAA 'alerted' me of the charge on this morning

(the package can ship from Ca. to Iowa in 5 days, takes USAA 4 days to alert )

The one thing I'll give Cap-1 is they post and alert pretty quick...can't say the same for Disco (sometimes comically slow)

In fairness 8 days is a lot and I'd imagine that would change but if you had said half that time I'd say that's about normal.

Same thing with their statement posting, it can be several days after the fact, where as in today's world most of this guys are really fast

except for Disco...that's the way it's been for my 1st 6 statements YMMV

[TiggerDat]

I don't know if I have ever had this issue with Discover, but I used to run into this all the time with CapOne.  They used to hold my credit for a long time.  After a few months of payments they stopped doing it, so I imagine that Discover will basically do the same thing.  I think you will find Discover a bit easier to deal with in the future.

[Anonymous]

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@jbsea wrote:

You could also do bill pay from your bank.  I would think that they would reliease it right away as soon as they receive it.

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Target used to do this when I first got my redcard.  Irritatingly they even held a CASH payment for 5 days.  When I say cash, i mean cash, not a payment from a debit card.  I walked up to the clerk, and handed over physical bills.

Some banks have hard coded into their systems to hold payments.  The idea is to catch fraudsters, but the backend systems are seriously old (think AS400 old), and not many people know how to make changes to old mainframes.

[Anonymous]

For me they're usually slow if I do it on a weekend. If I pay on a weekend it won't post until Monday. If I do it during a weekday it ranges from next day to a few days.