Credit Card Center Advertiser Disclosure†
12-10-2009 02:51 PM
DI wrote:Having a 792 FICO score with them, I don't see how they even fixed their computer to place a restriction on my available credit.
I must have missed something... I don't see the connection between your personal FICO score on any given day and an exemption from a blanket new-member anti-kiting policy.
That would be quite the set of disclosures and disclaimers they would have to provide at application for a card if your payment terms were based on your FICO score at the time of payment. Would they pull it every day? Every week? Every time you made a payment? If your FICO dropped 13 points, would you have to look up in a chart to see how many days' hold you would have?
12-10-2009 02:58 PM
12-10-2009 05:02 PM
What is the purpose for the hold? We are not talking about $10,000 or more. My point is this. If one has an excellent credit history and no problems with Chex System, there's no just reason to hold available credit. That is bad customer service and plain dumb!!
DI, I am sure this not a personal issue with you but a Company policy. I know in the Casino Business we had a policy that ALL CUSTOMERS were on a "7 DAY CREDIT LIMIT", meaning your total credit available could not be exceeded in a 7 day period. It did not matter if your available Credit Limit was $250 or $250,000, it was for a 7 day period, NO EXCEPTIONS. Yes, we had a few advantages in regards to clearing items, since we had a bank branch in the soft count area so we always got quick service.
As for having an excellant credit history and no problems with Chex System, that to me is really not a factor. I have known people with excellent credit histories go bankrupt and have seen many long time customers default on their accounts when you think they would not.
Like I say, I have no doubts it is nothing against you personally but just an internal Credit policy.
12-11-2009 03:55 AM
DI. I think you commented on a similiar question I had with NAVY. Did you pull the amount in from PenFED?
NAVY took one of my savings accounts as a payment soure, with the long hold, but didn't take the other one at all. The other day I pushed a small amount from BofA VISA just to test it, and waa laa, payment posted and is available next day at NAVY, but BofA still shows it hasn't cleared yet LOL.
12-11-2009 10:17 AM
Today is 10 business days. After tomorrow, there may be something wrong.
Also, I ran into the same problem the last couple of months... The CSRs blamed it on IT. When I called in, my correct balance and available credit showed up, and the CSR verified those two items. I told them I was looking at my available credit online, and it was lower by exactly the amount of my last payment (longer than 10 days before). They said, "no, sir, I am looking at it right here in the computer. You have $xx,xxx available after your last payment of $xxx."
After arguing with them for a while and explaining that the website did not say the same as them (and them continually insulting my intelligence by telling me to "try logging in on another computer" or "try clearing out your cache"), they referred me to the IT department who said they were having issues since the last website update.
Long story short, I'd recommend calling and seeing what they say is available, and I bet it will be correct and it isn't because of the new member "probation". Just bad luck and bad programming!
LOL. I had this same conversation, but the CSR knew how to fix it.
When you are looking at your available balance, click directly on that available balance and it will refresh. But PenFed is "Batch" processing like banks, not real time like a lot of CU's have traditionally been. So even if it is day 10, the screen will not automatically reflect the actual available balance till the next day, UNLESS you click on the available balance to get a refresh. Hitting F5 or Refresh will not do it. You have to click directly on the number for their server to refresh the data rather than display the data cache default.
12-11-2009 10:28 AM
It's the simple things that make you smile!
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.