12-07-2009 06:57 AM
Last week I paid off the large balance on my card through a combination of a balance transfer and two electronic payments from my checking account.
The first payment to hit was $750 from my checking, and they credited it immediately and also made that much available to spend. I have noticed that sometimes they made credit available immediately and sometimes they "hold" the amount (and I've seen discussions on other card issuers doing this, possibly having to do with the amount of the payment and/or the fact that the card balance is paid to zero.)
I then decided to put through a payment for $143 (even though I didn't need to, in order to satisfy the statement balance from the last statement, but I decided I wanted to see a field of zeroes.)
Meanwhile, the BT I had put through last week hit. I had calculated it so that my first payment and then the BT and then my second payment brought the current balance down exactly to zero.
Well, I logged on this morning and was pleased to see that the BT had come through and had been credited and that amount had been made available to me.
But guess what? The $750, which previously had been available after my payment for the same amount, plus the $143 which they also credited as paid, had both been made, in combination, NOT available to me. In otherwords, my available credit is now the entire credit limit MINUS $893 (the amount of my two payments combined.) HA! I guess they found the activity suspicious (paying the account off) and they decided to consider the balance transfer "good" and my payment amount suspicious, as if I might be plotting to pull a fast one on them. HA! LOL
Doesn't matter since I don't plan to use it anytime soon, but I just found that to be too much in the way of funniness!
12-07-2009 08:34 AM
Well, I guess either no one found that funny or no one understood it.
To sum up, they gave me "available credit" based on a payment I made, and then later took that back. I guess they just don't want me having access to my whole credit line while three payments are technically pending in the banking pipeline. They considered the balance transfer from USAA to be good money, but my checks are now NOT good money until... I don't know, they'll probably hold it for as long as the law allows the bank to take back an ACH as "no good," however long that may be (I used to be brushed up on that but hardly have reason to, so I've forgotten it by now.)
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