Funds on hold after payment is made

[masscredit]

I had balances on all of my Cap 1 cards this month. Paid them all down to $0 last week. The full credit line is avaialble on two of them but the other two are showing the available credit as what it was before I made the payments.  Balances are zero.  I called to ask about this yesterday and was told that they do that sometimes to make sure the funds are available. It was only a little over $1300. on one card and $2800. on the other. It's not $100 but it's not $20K.  I know credit card companies do this once in awhile but it's the first time I've had it happen to me. 

[Pway]

Interesting, I have never had this problem with Capital One.  My payments always post as usual.  Back in December, I paid off my Quick Silver One and Platinum and the payments was well over 1k and there was no issues.

[Anonymous]

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@masscredit wrote:

I had balances on all of my Cap 1 cards this month. Paid them all down to $0 last week. The full credit line is avaialble on two of them but the other two are showing the available credit as what it was before I made the payments.  Balances are zero.  I called to ask about this yesterday and was told that they do that sometimes to make sure the funds are available. It was only a little over $1300. on one card and $2800. on the other. It's not $100 but it's not $20K.  I know credit card companies do this once in awhile but it's the first time I've had it happen to me. 

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I've had Cap1 do this to me but it was two years ago and was on my secured cc. I made two payments with a couple of days of each other. The first payment was fine - it was the second payment they put a "funds hold".

They said if I wanted them to release the hold I would have to agree with doing a three way call with my bank. My bank would have to confirm that there were funds available in my account.

[Aahz]

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@masscredit wrote:

I had balances on all of my Cap 1 cards this month. Paid them all down to $0 last week. The full credit line is avaialble on two of them but the other two are showing the available credit as what it was before I made the payments.  Balances are zero.  I called to ask about this yesterday and was told that they do that sometimes to make sure the funds are available. It was only a little over $1300. on one card and $2800. on the other. It's not $100 but it's not $20K.  I know credit card companies do this once in awhile but it's the first time I've had it happen to me. 

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The two payments on hold make up just over 8% of your total credit lines with CapOne.  Plus the two other payments that "cleared".  That's a pretty big percentage for them to see coming in without precedent.  A hold (while annoying) seems rational to me.

[masscredit]

I just had this happen again with Cap1. I wanted all of my accounts with them at $0.00. My automatic Netflix payment of $11.99 posted to the account so I paid it off on Saturday. As of yesterday (Monday), the account shows zero but the available credit wasn't showing the $11.99 being available. I called and spoke to a "Peggy" representitive who kept giving me generic answers. At one point I told her that I didn't want scripted answers that might sound good. I want to know why my payments are being held. She said it's not them, it's my bank and the clearing house that the money passes though. I call BS. My payments always go through with no problems and are fully available the next day. Never had this or any other problem over the years that I've been with them. Payments can range from $10 to thousands of dollars each month.  I think I'm going to be calling them to ask for an American representitive then see what they say. 

[Anonymous]

This is not uncommon for Capital One. They are super shady. I had a Venutre card a while ago (closed in 2013). I was moving from the US to Asia for work and put my moving company charges on the card (almost $5k - so near the limit of the card). I paid off the chrage a few days later. At least a good week later or more I was checking into the hotel and had to prepare for three weeks, again a few thousand dollars. Capital One declined the charge and I had to use another card. They still had my payment on hold! I was furious. When I called they stated that due to the size of the payment and my "account history" with them they held the payment. Total bs - never late, no return payments, barely used the card, and great credit profile/income.

I closed the account and don't think that I'll ever have another Cap One product in my wallet. Some banks pull some shady stuff, but holding my money for more without notice is unacceptable.

[Anonymous]

Chase and Synchrony do the same thing.

[Anonymous]

I had this happen to me at the beginning of July.  I paid just a bit over 10k to PIF both my cards and it was on hold for 4 days because it was "outside my normal payment pattern."  I made the payments on a Friday and they cleared my bank (Chase) Saturday morning.  I called the number on my card and talked to the rep and told her I'd like to make a large purchase that day (of course, I didn't).  I told her the payments had both already cleared my bank and she release both holds immediately.  Give it a try, I suppose who you get on the phone and how you talk to them is what makes the difference.

[masscredit]

I called yesterday and got to talk to an American representitive. I beleive she ws a senior specialist instead of a regular representive. She throughly reviewed all of my accounts and as mentioned, said that the system will sometimes put a hold on funds if something happens that is outside of normal usage. The is done to protect the consumer. While I can appreciate this I think it should apply to charges over payments.  My $11.99 payment had a 4 day hold. 

[NRB525]

$12 ?

reminds me of the persistent paper boy in the movie "Better Off Dead" : "I WANT MY TWO DOLLARS!"

A couple more days, after the funds clear, no issue. Please report back with results.