Reply
Valued Contributor
Duncanrr
Posts: 2,857
Registered: ‎06-08-2012
0

Finally, Cap1 doesn't put a hold on my payment

After putting holds on every payment of mine greater than $30 since June (about 5 or so payments), Cap1 finally processed a large payment without placing a hold on it! 



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

Take the FICO Fitness Challenge
Frequent Contributor
atarvuzdar
Posts: 375
Registered: ‎01-20-2012
0

Re: Finally, Cap1 doesn't put a hold on my payment

It seems like they like to do that sort of thing on new accounts. When I got my second card (No Hassel Rewards) from them in December I used it immediately. I made a large payment on it and my first CapOne card on the same day, for nearly the same exact amount. The payment for the first card was posted immediately, but for the new card they held it for weeks, supposedly because it was a large payment. It was the only time that happened but I was steamed since I wanted to push as much $ through it as possible to maximize rewards and they already should've known the bank account I was paying from was good since I was using it to pay my other card as well.

 

Glad to see you're past that hassle!

Current: EQ 673 September2013 / TU 696 September2013 (Walmart)
Start: EQ 584 Feb2012 / TU 629 July2012

Wallet: BofA Cash Rewards Visa Sig $5000 / Lowe's $6000 / JCP $3900 / eBay MC $3200 / Barclaycard Rewards $2000 / Walmart $3300 / CapOne NHRC $2000 / CapOne Platinum #1 $2000 / Amazon $1700 / Discover It $1000 / CapOne Platinum #2 (former Orchard) $750 / Amex Zync $500 Autopay
Contributor
SpeedingWheels
Posts: 253
Registered: ‎08-06-2012
0

Re: Finally, Cap1 doesn't put a hold on my payment

I have 2 Cap1 cards

 

1. Cap1 Secured (opened 7/11)

2. Cap1 Cash Rewards (opened 4/12)

 

 

With my secured card I never saw a payment held. I would pay and the available credit would be available the next business day every time. 

My CR card is another story. I was shocked to see my first payment held after the first statement posted so I called CS and they released the funds. 

This continued for the first 3 billing cycles. I'd make a payment, it would be put on hold and I'd have to call to have it released. 

 

CS never gave me too much of a hassle with it and they did explain that it is their policy that for the first 4 months they *can* hold payments. 

I would just ask nicely to get the funds released and it was never too much of a problem. 

 

The last couple payments I've made have cleared the next business day without issue. (I make several payments throughout the month since it's only a $500 limit and I like the cash back). 


Walmart Discover ($5000) - Amazon ($5500) - Cap1 Cash Rewards ($2000) - Meijer ($5000) - Discover More ($1800) - Car Care One ($2100) - Amex Delta Skymiles ($2000) - Citi Thank You Preferred ($2000) - Chase Freedom ($500) - Sam's Club, GE ($1237?)
Valued Contributor
Duncanrr
Posts: 2,857
Registered: ‎06-08-2012
0

Re: Finally, Cap1 doesn't put a hold on my payment

Its actually the secured card that has been placing holds.  I think its just a new account/frequent payment thing.  I'm hoping its a thing of the past.  Kind of hard to push stuff through card if you have to wait 7-10 days for CL to free up.



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

Take the FICO Fitness Challenge

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}