Fastest Payment Method

[trumpet-205]

I pay directly from credit card's website. If there is a payment issue you can take it up to them. If you push the money from bank account instead, not only is it slow, but you have to deal with your bank instead.

[beachbum33]

Capitol one did this to me as well, when I called them to ask about it the rep said my payment pattern had changed and they were holding it til it cleared (7days), normally I run $200-300 a month thru it and pay it off but over Christmas I ran it up to 80% knowing that I get a decent tax return so when I paid it off they held that payment for 7 days. I suppose it's an internal fail safe preventing someone from making a bad payment and running the cc higher than the limit.

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This is what I have always done in the past, but recently when I made a large payment with Capital One to payoff my card, they held my available funds for 7 days.  I am hoping to avoid that issue with Chase as my limit is not enough for my monthly spend and I want to run everything through this card for rewards.

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[shane82388]

Both ways are incredibly slow IMO...especially in this day and age.

[Anonymous]

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@beachbum33 wrote:

Capitol one did this to me as well, when I called them to ask about it the rep said my payment pattern had changed and they were holding it til it cleared (7days), normally I run $200-300 a month thru it and pay it off but over Christmas I ran it up to 80% knowing that I get a decent tax return so when I paid it off they held that payment for 7 days. I suppose it's an internal fail safe preventing someone from making a bad payment and running the cc higher than the limit.

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This is what I have always done in the past, but recently when I made a large payment with Capital One to payoff my card, they held my available funds for 7 days.  I am hoping to avoid that issue with Chase as my limit is not enough for my monthly spend and I want to run everything through this card for rewards.

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Yeah, this is exactly what they told me.  Normally I had only run my balance up to 200 or so and paid it off.  This time, my balance was $500.  They said because it was more than usual, they were holding my payment.  Hopefully if I establish this as my normal routine then Chase won't do that.  My cap one is essentially sock drawered, except a small charge now and then so they don't close it since they refused my CLI (not surprised they did).

[Anonymous]

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@shane82388 wrote:

Both ways are incredibly slow IMO...especially in this day and age.

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Agreed.  I still find it incredible in this day of computers and connectivity that electronic payments are not instant.  There is no reason this shouldn't be the case.

[shane82388]

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@Anonymous wrote:

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@beachbum33 wrote:

Capitol one did this to me as well, when I called them to ask about it the rep said my payment pattern had changed and they were holding it til it cleared (7days), normally I run $200-300 a month thru it and pay it off but over Christmas I ran it up to 80% knowing that I get a decent tax return so when I paid it off they held that payment for 7 days. I suppose it's an internal fail safe preventing someone from making a bad payment and running the cc higher than the limit.

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This is what I have always done in the past, but recently when I made a large payment with Capital One to payoff my card, they held my available funds for 7 days.  I am hoping to avoid that issue with Chase as my limit is not enough for my monthly spend and I want to run everything through this card for rewards.

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Yeah, this is exactly what they told me.  Normally I had only run my balance up to 200 or so and paid it off.  This time, my balance was $500.  They said because it was more than usual, they were holding my payment.  Hopefully if I establish this as my normal routine then Chase won't do that.  My cap one is essentially sock drawered, except a small charge now and then so they don't close it since they refused my CLI (not surprised they did).

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I pay Chase a bunch of times a month because i have to with a $500 limit. Seems to work fine.

[shane82388]

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@Anonymous wrote:

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@shane82388 wrote:

Both ways are incredibly slow IMO...especially in this day and age.

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Agreed.  I still find it incredible in this day of computers and connectivity that electronic payments are not instant.  There is no reason this shouldn't be the case.

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It must be by design or something.

Theey sure can take it out of your account in the blink of an eye! Dont tell me it doesnt work both ways.

[Anonymous]

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@shane82388 wrote:

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@Anonymous wrote:

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@beachbum33 wrote:

Capitol one did this to me as well, when I called them to ask about it the rep said my payment pattern had changed and they were holding it til it cleared (7days), normally I run $200-300 a month thru it and pay it off but over Christmas I ran it up to 80% knowing that I get a decent tax return so when I paid it off they held that payment for 7 days. I suppose it's an internal fail safe preventing someone from making a bad payment and running the cc higher than the limit.

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This is what I have always done in the past, but recently when I made a large payment with Capital One to payoff my card, they held my available funds for 7 days.  I am hoping to avoid that issue with Chase as my limit is not enough for my monthly spend and I want to run everything through this card for rewards.

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Yeah, this is exactly what they told me.  Normally I had only run my balance up to 200 or so and paid it off.  This time, my balance was $500.  They said because it was more than usual, they were holding my payment.  Hopefully if I establish this as my normal routine then Chase won't do that.  My cap one is essentially sock drawered, except a small charge now and then so they don't close it since they refused my CLI (not surprised they did).

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I pay Chase a bunch of times a month because i have to with a $500 limit. Seems to work fine.

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Good to hear.  The only other problem is that they won't let me make a payment until transactions post.  I have used half my limit already, but none of the transactions have cleared so I can't pay it yet, ha.

[dharalex]

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@jamesdwi wrote:

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@Anonymous wrote:

I was just wondering if anyone had experience with paying online and what was faster.  My two options are to "pull" the payment from my bank through Chase's website or to "push" it from my bank through my bank's online bill pay service.  Which one of these tends to be faster?  Thanks.

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pulling is almost always faster, and it shows intent to pay the bill that the credit card companies can see so if there is ever a doubt it was initiated on there system. 

If there is ever a question on a push you have to show your banking records. I only push payments if for some reason the credit card company isn't allowing payments at the moment and I really want to make a payment. 

 +1

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[in0wh3r3ul1v3]

usually if i initiate payment through the creditor's website, the payment is pulled by the next business day... except in the case of amex, where sometimes my bank account is debited that SAME day. AND with bofa, i just make a transfer from my checking to my credit card which always posts the following business day.