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Regular Contributor
Posts: 141
Registered: ‎04-06-2010
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Making multiple payments causes 7 day hold

Just wondering if anyone else has heard of this. I have a credit card with USAA. I typically make 2 to 3 payments every month depending on how my paydays fall. For the last month, they have started putting a 7 day hold on my payments. They say it is because the multiple payments and is governed by the government.  I do this on all my cards including another one I have with USAA and this is the only one they are doing the hold on.


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Valued Contributor
Posts: 1,971
Registered: ‎02-06-2011
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Re: Making multiple payments causes 7 day hold

I know Barclay will do this, put a 10 day hold if you make multiple payments a month, but I have not heard of USAA doing this.

 

I have never made multiple payments a month with Barclay for this reason, I will just wait till 3 days before statement date and make one PIF payment) but I do make multiple payments on several other cards and I can see this being a huge hassle.

 

Sorry to hear they started that on you, I'd call and ask about it, explain it's inconvenient and see what the CSR says?

 

Best of Luck.


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Moderator Emeritus
Posts: 14,652
Registered: ‎12-30-2011
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Re: Making multiple payments causes 7 day hold

Unless you're spending up to the limit and capping the card, I don't think it'll matter that much.

 

The payment will be credited to your account on the date of the transaction, and any future interest would be off that balance instead regardless of the hold.

 

If you are spending up to the limit several times a month, and putting in significant payments every week, think that's a good reason to ask for a CLI increase anyway.

 

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Super Contributor
Posts: 6,677
Registered: ‎04-07-2008
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Re: Making multiple payments causes 7 day hold

Thats strange, I have made multiple payment to my USAA AMEX and never had a hold. Im curious as to why they do that.




Regular Contributor
Posts: 141
Registered: ‎04-06-2010
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Re: Making multiple payments causes 7 day hold

I do typically charge up to the limit and pay it off almost completely. I have a $2000 limit and I run it all the way up and down. I have only had the card for a few months so I doubt a credit increase would be in order yet. When I called the first time to ask about the hold, the csr did mention an increase, but then he saw how new the card was and said it would likely not go through.

 

I also have another credit card with them as well as my checking account and a $6500 atv loan.

 

Oh well, I will just restructure the way I make my payments. Thanks.


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Mega Contributor
Posts: 15,453
Registered: ‎04-09-2011
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Re: Making multiple payments causes 7 day hold


Mustanglvr2006 wrote:

I know Barclay will do this, put a 10 day hold if you make multiple payments a month, but I have not heard of USAA doing this.

 

I have never made multiple payments a month with Barclay for this reason, I will just wait till 3 days before statement date and make one PIF payment) but I do make multiple payments on several other cards and I can see this being a huge hassle.

 

Sorry to hear they started that on you, I'd call and ask about it, explain it's inconvenient and see what the CSR says?

 

Best of Luck.


Oh really?? that is going to suck, i like making at least 2 payments a month!




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Valued Member
Posts: 54
Registered: ‎11-05-2011
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Re: Making multiple payments causes 7 day hold

I made 7 payments adding up to $1450 on my Amex bce over a three week period in December. All they did was say thank you. I don't think amex would break federal law, so I'm inclined to think the practice of holding bring government imposed is bull. Just my two cents
Valued Contributor
Posts: 2,828
Registered: ‎08-13-2009
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Re: Making multiple payments causes 7 day hold

It's possible that they want to make sure your funds clear your checking account before applying them to the cc.

 

I usually pay all cc's that I charged on, every two weeks or so.   Which translates to multiple payments.

 

Oh - question - from WHICH bank are the payments being made?   Are you paying them from an OUTSIDE bank, from the USAA website?  That might cause a 7 day hold of payments.   

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Posts: 15,453
Registered: ‎04-09-2011
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Re: Making multiple payments causes 7 day hold


IOBA wrote:

It's possible that they want to make sure your funds clear your checking account before applying them to the cc.

 

I usually pay all cc's that I charged on, every two weeks or so.   Which translates to multiple payments.

 

Oh - question - from WHICH bank are the payments being made?   Are you paying them from an OUTSIDE bank, from the USAA website?  That might cause a 7 day hold of payments.   


+1




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Valued Contributor
Posts: 1,960
Registered: ‎08-13-2007
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Re: Making multiple payments causes 7 day hold


CS800 wrote:

Thats strange, I have made multiple payment to my USAA AMEX and never had a hold. Im curious as to why they do that.


Me too. I make several payments per month based on my spending and I have never had them do this to me.

 

Call them and ask them why!

 

Ray

Ray

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