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Penfed holding my available credit more than 10 days

Super Contributor

Penfed holding my available credit more than 10 days

In October after making a payment, the payment reflected the next day as being available.  Last month after making payment on 11/25, the payment still not reflected in my available credit line.
Message Edited by DI on 12-10-2009 04:33 PM
28 REPLIES
Frequent Contributor

Re: Penfed holding my available credit more then 10 days


DI wrote:
In October after making a payment, the payment reflected the next day as being available.  Last month after making payment on 11/25, the payment still not reflected in my available credit line. 
Message Edited by DI on 12-09-2009 09:30 AM

 

DI, I am not a Penfed customer but on my CC Pages they show "PENDING PAYMENTS". Does Penfed have that option available and if so does it have your payment listed?

 

I know some have said that they hold payments on new customers for 10 days but this seems like an awful long time.

Super Contributor

Re: Penfed holding my available credit more then 10 days

The payment itself posted on 11/25.  It's a fact that Penfed holds payment for 10 days.  But today marks day number 14.  I'm livid!
Frequent Contributor

Re: Penfed holding my available credit more then 10 days


DI wrote:
The payment itself posted on 11/25.  It's a fact that Penfed holds payment for 10 days.  But today marks day number 14.  I'm livid!

 

Certainly seems like a valid complaint. Have you tried calling CS for an explanation?
Super Contributor

Re: Penfed holding my available credit more then 10 days


DickC wrote:

DI wrote:
The payment itself posted on 11/25.  It's a fact that Penfed holds payment for 10 days.  But today marks day number 14.  I'm livid!

 

Certainly seems like a valid complaint. Have you tried calling CS for an explanation?

No. I figured it's not worth the time. I'll penalize them for that and not use the card for a month.  

Regular Contributor

Re: Penfed holding my available credit more then 10 days

Hi DI…..I'm new to Penfed too but haven't kept track of when things were posted and when my CL changed. With a $20K CL the 10-day hold doesn't really effect me but I'll keep track this month. 
Frequent Contributor

Re: Penfed holding my available credit more then 10 days

Hi idmd

 

I was thinking of applying with Penfed but thinking my FICO score is not high enough today.  What kind of FICO range were you in when you applied.  I want to pull the trigger tonight or tomorrow especially when I see some of the CL folks have with them.

 

Thanks

Regular Contributor

Re: Penfed holding my available credit more then 10 days

770+ with a fairly high income……they did ask for pay stubs before granting my request for $20K.
Valued Contributor

Re: Penfed holding my available credit more then 10 days


DI wrote:
The payment itself posted on 11/25.  It's a fact that Penfed holds payment for 10 days.  But today marks day number 14.  I'm livid!

DI...I've never had PenFed hold payments. The payments are posted promptly. Do you mean that they hold available credit for 10 days?

Super Contributor

Re: Penfed holding my available credit more then 10 days


LynetteM wrote:

DI wrote:
The payment itself posted on 11/25.  It's a fact that Penfed holds payment for 10 days.  But today marks day number 14.  I'm livid!

DI...I've never had PenFed hold payments. The payments are posted promptly. Do you mean that they hold available credit for 10 days?


Available Credit