Multiple payments per month to Cap 1

[st3v3n]

I had a similar issue with my Orchard Bank credit card. If you send payments like cashier checks or personal checks through the mail, the institution usually puts a hold on the funds. The best thing to do is call the back number on the back of your credit card and make a payment using a debit card, that way your payment would post within 1-2 days. 

[Mailak]

I push multiple payments through my banks bill pay. Credit is reflected immediately.

[AF_23]

never had this issue with them

[MarcinXP]

I have a Cap1 No Hassle Rewards card for about 6 months. It happened to me one time which was fine because they explained that I made 3 payments in one month and now I'm making another one in second month so they want to verify funds..?.. I was like ok..whatever...I will just use another card....havent had that happen to me since then...im sure it will happen again though...that also happened on one of my HSBC cards....im waiting for it to happen on another one and its been 6 months and it has not...maybe because I use the same account across the board to make payment...last month I made 5 payments in one month to my HSBC RZ...for sure I thought I get a hold..but no. Maybe if credit limits were not that low..I wouldn't have to make multiple payments..but thats what I get for detroying credit first time around...pretty soon I will be looking at prime cards with higher limits (Next year or so) and will be dumping Cap1/HSBC since low limit cards will not be something I want.

[s4alex]

This has happened to me before.   Well, it actually happened to me only when I made the payment through the CC website..  C1 or HSBC..   I just called them and they released the funds.  They told me that sometimes they "hold" payments until they can verify funds.   The rep then said that if I used my bank to send payment there is a lesser chance this would happen.

I have since been using my bank billpay to make payments and it has never happened. 

[Wolf3]

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@p- wrote:

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@bbrannan wrote:

Is it a common thing for Capital One to place a hold on available credit when you make multiple payments each month? In order to keep my utilization down, I send in multiple payments each month, but I always have to call them about it because the place a hold on my funds. They post the payment against my account so my balance does reflect the payment, but it does not show on my available credit for about 14 days unless I call them. I was just wondering if this is common practice with all major CC or is this a Cap1 policy? Thanks!

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The obvious question is "What method are you using to pay?"

Most of us use our own bank's billpay service to "push" midcycle payments to the card issuer.  If you are sending a paper check, or using their own online payment portal, it may be the cause.

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How do you know most of us push with bill pay?   

I prefer to pull from the CC.   For accounts that trust me, the available credit sometimes shows up before it hits bank account.   It is quicker method usually.

[p-]

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@Wolf3 wrote:

How do you know most of us push with bill pay?   

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I've seen this discussion played out several times.  It seems common for new cardmembers to be flagged if they do too many mid-cycle payments, and the remedy suggested is usually to push with bill pay.  I bet if OP tried it the result would be positive.

If I remember correctly, the explanation is fraud.  Some bright bulb somewhere figured out that they could open fake accounts, max them, pay them off with other fake or stolen bank cards and/or checks, and max them again, repeatedly.  I guess the lag time created an exposure for the banks many times greater than the credit limit.  So now, new accounts that are run up and paid off many times during the cycle are reigned in. 

For some reason, bank billpay seems to sidestep this.  After reading multiple threads and hearing what others have done, I used my banks billpay too.  And have never had a problem.  Some even show up the next day.

[p-]

The one exception for me is USAA.  They seem to take forever to process a payment to my Amex, but if I use their bank's billpay to pay the card out of my WF account, it posts on the same business day on USAA, and takes about 24-48 hrs to clear my WF account.

[Anonymous]

I was wondering what that was... It has been a month since i've starting using the cash rewards card. Ive paid six time via bofa bill pay. The last payment i overpaid to cover a pending transaction that i thought would post the same day.This last statement shows a negative balance with 0 min. due.

I just went into my account, the pending transaction has now posted and the balance is 0 but is not reflected on the available credit.

Guess it's time to call.

[AZHeather]

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@bbrannan wrote:

FINALLY got my answer! This is a new account (only 2 months old) and that is the reasoning for it. (At least that is the reason that they just told me.) I will try sending in my payments through my bank's billpay and see if that makes a difference as well. I will post my results and let you know! Thanks!

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I have a rebuilder card ($1,000 cl) that I just opened 3 months ago.  I have made multiple payments (each month) on their website and have had zero issues with my availability.