No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I paid my Cap1 card in full on 6/29. The payment officially posted to my bank account 7/2. When can I expect Cap1 to put this amount back on my available credit? Right now, my available credit is as if I had never made the payment.
When's your next statement date?
Follow my financial journey: http://www.frugalrican.com
Capital One likes to put holds on large payments (i.e. anything over $10) so generally you will have to place a call to Peggy and ask kindly that they remove the hold and they will make the credit available for purchases only (cash advanced will not be available until the 2 to 10 day hold period is over).
Next statement date will be cut 7/24. (Util is based off balance not CL available, correct?)
Then you'd have to wait until around 07/26 for that to show, since you paid after your last statement date.
Statement date is 07/24 but could take a day or two for them to update to CRA's.
Follow my financial journey: http://www.frugalrican.com
Yes it is based on the balance and Capital One generally reports balances to CRA's a couple days after your due date.
Cap one is very conservative, they will usually wait ten days or so before releasing credit being offset by current payments to be sure the payment clears. You can speed that time frame up by doing auto pay from your checking/savings instead of mailing a payment in.
Did you do it from their website or from your bank's bill pay service?
I've found that "pushing" payments through the bank electronically usually gets the payment to increase available credit faster. Like I said in the other post, I push a payment in and it usually leaves my account later that night, gets posted to the account the next day, and then the available credit increases the day after that.
You may want to call their cust svc area. Sometimes a rep will be able to release it sooner, or worst case call the bank it is drafted off of to verify it has cleared.
Call Peggy and ask for the hold to be lifted, they will more than likely put you on a 3 way call with your bank to confirm the payment cleared.