Funds on hold after payment is made

[masscredit]

Twelve dollars... I want my twelve dollars!!!  Just checked and saw that they have released the money.  Even the person that I talked to yesterday was surprised that it was on hold. 

[NRB525]

On Cap One limits totaling $50k.

Glad to hear it worked out for you. 

[joltdude]

My question is why not combine some of the limits on your multiple Cap One cards? Ditch the Merrick Bank.... Possibly PC/Merge your Barclaycards and simplify your portfolio of cards?

[UncleB]

I'm glad to hear this has all worked out. 

Back when my QS MasterCard was still HSBC/Orchard I routinely got payment holds when I would make my payment through the website, and they could be lengthy, too - I think the longest was 10 days.

Once I started making my payments through my own bank's bill pay (ACH push) I never had another problem with a payment hold with them (or any other lender, for that matter). 

Since then, I've continued to push all of my payments (with the exception of Amex - I use their website to pay because they always give instant credit anyway).  I do have my checking account information 'on file' with most of my lenders anyway, for those times when I need to run things a bit closer to the due date than I prefer (in these occasional instances I'm not concerned with a hold anyway).

[masscredit]

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@joltdude wrote:

My question is why not combine some of the limits on your multiple Cap One cards? Ditch the Merrick Bank.... Possibly PC/Merge your Barclaycards and simplify your portfolio of cards?

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I've been trying to combine Cap 1 cards for about a year. It never works for me.  Merrick is the odd duck in my portfolio. I use it once in awhile to keep it active. It's usually hidden in my car in come of emergency. Like if I leave home without my wallet (I learned after doing that last year).  Each of my Barclay cards has a purpose. The Rewards card gives me the best cash back and the Apple card provides me with discounts on their products.

Three of my Cap 1 cards has balances so I paid all of them off last Friday. All of the payments posted but one of the cards has the funds on hold again. A whole $30.00!  I've never used my bank's bill pay but I think I'l going to try that next month to see what happens. 

[Anonymous]

It's so silly that they keep holding your funds, particularly for very low dollar amounts.  I first started reading the thread I was thinking well, there were three fair sized payments made on the same day so perhaps Cap One had some kind of internal payment limit across accounts based on regular habits of a customer which seems to fall into alignment with what the reps were saying, but to hold a $12 payment and later a $30 payment, that seems weird to me.

I'd definitely try pushing the payments from your bank and see if that fixes the problem.  And I'll keep my fingers crossed that they don't decide to do that to me.

[Anonymous]

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@masscredit wrote:

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@joltdude wrote:

My question is why not combine some of the limits on your multiple Cap One cards? Ditch the Merrick Bank.... Possibly PC/Merge your Barclaycards and simplify your portfolio of cards?

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I've been trying to combine Cap 1 cards for about a year. It never works for me.  Merrick is the odd duck in my portfolio. I use it once in awhile to keep it active. It's usually hidden in my car in come of emergency. Like if I leave home without my wallet (I learned after doing that last year).  Each of my Barclay cards has a purpose. The Rewards card gives me the best cash back and the Apple card provides me with discounts on their products.

Three of my Cap 1 cards has balances so I paid all of them off last Friday. All of the payments posted but one of the cards has the funds on hold again. A whole $30.00!  I've never used my bank's bill pay but I think I'l going to try that next month to see what happens. 

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It happened to me when I did a large payment (a few thousand) on DH's new Venture VS. It was a first for me. I agree with others push the payments through your bank's bill pay service. I hope this resolves the problem for you. Good luck!

[Anonymous]

I have never had this problem with Capital One, while my wife has. 

I make payemtns ranging from 10-25k a month on my Venture Card everyt two weeks. They each post the same day, credit avialable the same day. My wife however, makes spuratic payments of diffrent amounts every few days. I find that this "triggers" something in thier system which places funds on hold. Never got a clear answer why, as she has never had a returned payment. I think they "hold" the funds because it costs them a % each payment and they are trying to get people away from paying every few days. However, that is just my .02