cancel
Showing results for 
Search instead for 
Did you mean: 

Payment wont credit quickly, again

tag
Anonymous
Not applicable

Payment wont credit quickly, again

Hi all

 

I have had my secured discover card for about 2 months now, and i made a payment early Monday May 2 and as of today it has not credited to my account. Is anyone else having this problem? I called discover and they said they are just waiting for the bank to ok the payment. This has already happened a couple of times and its very frustrating as i cant use my card for purchases until this goes thru. On top of the i am using Discover Cash Back Checking account to make payment which i thought would make it that much quicker but still having the same issue. 

Message 1 of 16
15 REPLIES 15
grillandwinemaster
Valued Contributor

Re: Payment wont credit quickly, again

Good Morning JT!

I also made a payment to my Discover on Monday.  I was a little concerned, reading about Discover's posting/and CL updates.  Wife and I are headed to Laughlin on Thursday morning, and I wanted to use my Discover card.  My payment was for $1,400.  I checked my bank account this morning, and the funds have not been pulled by Discover yet.  My money is still in there.  However, I logged into my Discover account, and the available credit has already updated.  So were good to go to Laughlin!  I do have a Discover IT, not secured.  So maybe that makes a difference?  Weird though, that your actually using Discover bank, and they still haven't updated.  I'm using a local credit union.  

Best wishes to you!


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
Message 2 of 16
kjm79
Valued Contributor

Re: Payment wont credit quickly, again

I've only had the card for about 2 months but have run $4,000 through it in that time (lowish limit of $1,800 so multiple payments over the month). When I make the payments through the app or online (via my Discover card account) I have no issues with the payment posting and limit being updated the the very next day (payment itself credited the same day). Only delay I've encountered is when I initiate a payment from my bank to Discover. The bank initiated payments take 2-3 days to post and update the limit.  


CH 7 Filed 7/27/15 Discharged 11/16/15
Starting Score: EQ 620 TU 568 EX 593
Current Score (07/13/16): EQ 674 TU 649 EX 674 (FICO's 08)
Cap1 QS ($5350) (Combined QS and QS1) Discover It ($4100) MilStar ($8,600) Fingerhut ($800)
Off to the garden 05/01/16
Message 3 of 16
UncleB
Credit Mentor

Re: Payment wont credit quickly, again

In my own past experience, 'back in the day' it was more reliable for me to make my payment through my bank's bill pay system; it does take an extra day or two, but once the payment is received there is no worry with payment holds - my available credit was always updated immediately upon receipt of payment.

 

If you use the issuer's website to make your payment, they have to 'pull' the funds from your bank, and while it takes up to a couple of days for the funds to actually arrive once you have a good history they will many times make the funds available to you immediately.

 

There are a few things that I've noticed that seem to make payments take a little longer.  Secured cards, cards with low credit lines, and payments that are a large percentage of the overall credit line seem to have more holds than others, but as always YMMV.  I've also noticed that once an account has some age these factors don't seem to be as important; in my own case my BCP has a CL of $1k and I regularly charge half of that in a given month... so far Amex has made my credit line available nearly right away when I make a payment using their website.

Message 4 of 16
Anonymous
Not applicable

Re: Payment wont credit quickly, again

I won't be much help here but maybe adding to some data points... I have the Discover IT which started out as secured (graduated at a year) and have never had any of these issues. I also have the Discover bank account but can't remember if I'd made any payments with it. I typically make a payment directly from their website to come out of my NASA account and everything is credited within 24 hours.

 

This would be so frustrating to deal with. I hope it gets resolved sooner rather than later for you.

Message 5 of 16
Anonymous
Not applicable

Re: Payment wont credit quickly, again


@Anonymous wrote:

Hi all

 

I have had my secured discover card for about 2 months now, and i made a payment early Monday May 2 and as of today it has not credited to my account. Is anyone else having this problem? I called discover and they said they are just waiting for the bank to ok the payment. This has already happened a couple of times and its very frustrating as i cant use my card for purchases until this goes thru. On top of the i am using Discover Cash Back Checking account to make payment which i thought would make it that much quicker but still having the same issue. 


This could just be a delay with the website reflecting the payment.  Call the automated system and see if they acknowledge your payment.  The delays on the website usually preceede site updates.

Message 6 of 16
Anonymous
Not applicable

Re: Payment wont credit quickly, again

They verified the payment was made but for whatever reason has just not credited. The answer they give was they are waiting for the bank to give the ok, whatever that means. Not sure if using another bank would help.

Message 7 of 16
Anonymous
Not applicable

Re: Payment wont credit quickly, again


@Anonymous wrote:

They verified the payment was made but for whatever reason has just not credited. The answer they give was they are waiting for the bank to give the ok, whatever that means. Not sure if using another bank would help.


I would say, at this point, it couldn't hurt.

 

Like UncleB, I've had funds credited to my account and payment shown as accepted (with a release of the CL) within minutes of paying (if online) or them receiving a cheque.

 

Matter of fact, AMEX just received my cheque today.  They sent me a text.  I logged onto my account.  Payment is not there yet, still showing minimum payment due, but my available CL reflects the payment.  Just a quirk of the system.

 

The only bank I have ever had an issue with is Synch.  I sent payment in WELL ahead of time, every other payment made (to other accounts at other banks) had already cleared.  It was getting close to the due date, and I even chatted with a CSR, who couldn't see the payment, but assured me that if it was in their system (and not showing up yet), payment would be considered "on time".  The next day, payment showed up, and was backdated to before the week-end, when every other payment made with it had been dated. Again, a quirk of their system.

 

I hate to say it, but your issues are probably because it's a secured card, OP.  How long have you had the card? As the acct ages, and Discover has consistent payment information, I would expect they will release the "hold" before the payment clears.

 

The only puzzling thing is it being from a Discover chequing account.  Seems that should be a lot quicker, being in-house and all.  As I've said, surely just a quirk of their system.

 

Message 8 of 16
Anonymous
Not applicable

Re: Payment wont credit quickly, again

Have had the secured card for 2 months now.

Message 9 of 16
Anonymous
Not applicable

Re: Payment wont credit quickly, again


@Anonymous wrote:

Have had the secured card for 2 months now.


Yeah, I saw that after I asked the question.  That's what I get for not re-reading the thread before posting. Smiley Wink

 

Surely the age of the accout has a lot to do with it, then (possibly even more than it being a secured acct).  I know it sucks, but it's something that time (and really, only time) will fix.

 

 

Message 10 of 16
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.