Penfed Website

[smallfry]

OK so I used the card on the way home from work and the available balance does not reflect the charge. Aside from Walmart this is my only card that does not update available balance immediately.

[creditwherecreditisdue]

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@smallfry wrote:
OK so I used the card on the way home from work and the available balance does not reflect the charge. Aside from Walmart this is my only card that does not update available balance immediately.

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What did you buy and where?

[DI]

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@smallfry wrote:
OK so I used the card on the way home from work and the available balance does not reflect the charge. Aside from Walmart this is my only card that does not update available balance immediately.

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I wonder if one make a purchase and maxed the card out, and later try to make another purchase, will they get declined even though the available balance not up to date?

[creditwherecreditisdue]

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DI wrote:

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smallfry wrote:
OK so I used the card on the way home from work and the available balance does not reflect the charge. Aside from Walmart this is my only card that does not update available balance immediately.

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I wonder if one make a purchase and maxed the card out, and later try to make another purchase, will they get declined even though the available balance not up to date?

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A charge will be approved or declined based on the reported available balance on the CC.

Gasoline purchases paid at the pump are off line transactions and are routinely authorized for $1, so the available credit declines by $1, a barely noticeable amount. The remainder is reflected on the account when the charge is posted and matched up with the authorization. Hence my question above.

(There are exceptions to the $1. Sometimes the fixed $ authorization is much higher, particularly at diesel pumps. This can cause tremendous problems if you are authorized for $60 and only pump $20. Any station I find doing this goes on my banned list immediately.)

[smallfry]

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@creditwherecreditisdue wrote:

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@smallfry wrote:
OK so I used the card on the way home from work and the available balance does not reflect the charge. Aside from Walmart this is my only card that does not update available balance immediately.

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What did you buy and where?

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Drug store in my hometown.

[Anonymous]

I love PenFed.

[smallfry]

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@Anonymous wrote:
I love PenFed.

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me too but their website is archaic.

[wmarat]

You can not have it all.

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@smallfry wrote:

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@Anonymous wrote:
I love PenFed.

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me too but their website is archaic.

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[Jazzzy]

I wanted to report on my first payment activity with PenFed. My first statement cut date was yesterday, Sept. 24th. I zeroed my balance out on the 22nd. The payment credited just fine and showed up the next day.

Then, on the morning of the 24th a Verizon bill and a recent gas charge showed up. It wouldn't have hurt me to let the balance show, but I wanted to experiment. I went online and paid it the morning of Sept. 24th, my statement cut date. Today, the 25th, the payment is there, and it zeroed out my statement balance...except that I actually have a $24 credit for my rewards.

I was impressed. With my National City, for example, they don't allow payments within 4 days of each other. With them, I often think I've zeroed my balance...then a new charge shows up...but I'm not allowed to make a 2nd payment. (I do know that I could use bill pay and push a payment, but I like to pay through the cc site if I can.)

I also like the fact that they actually give you your rewards on the statement without having to jump through a bunch of hoops to get the credit. So far...so good.

[creditwherecreditisdue]

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@LynetteM wrote:

I wanted to report on my first payment activity with PenFed. My first statement cut date was yesterday, Sept. 24th. I zeroed my balance out on the 22nd. The payment credited just fine and showed up the next day.

Then, on the morning of the 24th a Verizon bill and a recent gas charge showed up. It wouldn't have hurt me to let the balance show, but I wanted to experiment. I went online and paid it the morning of Sept. 24th, my statement cut date. Today, the 25th, the payment is there, and it zeroed out my statement balance...except that I actually have a $24 credit for my rewards.

I was impressed. With my National City, for example, they don't allow payments within 4 days of each other. With them, I often think I've zeroed my balance...then a new charge shows up...but I'm not allowed to make a 2nd payment. (I do know that I could use bill pay and push a payment, but I like to pay through the cc site if I can.)

I also like the fact that they actually give you your rewards on the statement without having to jump through a bunch of hoops to get the credit. So far...so good.

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+1

This foots with my personal experiences.