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Since Cap1 has been doing it...WF figured to start

Valued Contributor

Since Cap1 has been doing it...WF figured to start

Every payment, except a $30 payment, has been subject to a 7-10 day hold when I pay my Cap1 credit card bill.  Wells Fargo hadnt put a hold on a single payment.

 

That changed today.  WF put a 7-10 day hold on my payment from the 15th.  It has already cleared my bank and Ive gotten a notice from WF that the payment has posted but my available credit hasnt changed.

 

I HATE HOLDS!!!



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

Take the FICO Fitness Challenge
Message 1 of 13
12 REPLIES
Established Contributor

Re: Since Cap1 has been doing it...WF figured to start

Have you ever bounced a payment, or more than one payment ?

About $215,000 total credit among 11 cards
Message 2 of 13
Moderator Emeritus

Re: Since Cap1 has been doing it...WF figured to start

How long have you had the account, and how frequently have you been paying? Have you started paying more frequently than usual?


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Message 3 of 13
Valued Contributor

Re: Since Cap1 has been doing it...WF figured to start


n777ua wrote:

Have you ever bounced a payment, or more than one payment ?



Nope.  Never bounced a check.  I dont have any Equicheck, or whatever that those check systems are called, flags or anything.  I do make more than 1 payment and I know they list that as reason for holds.  But come on.  My limits are so frigging low that I have to make multiple payments just to be able to use the cards on regular basis.

 

Accounts are 3-4 months old.  Ive made about 9 payments to WF and this was first one with hold.  Ive made about the same to Cap1 and ive had 8 out of 9 payments held.



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

Take the FICO Fitness Challenge
Message 4 of 13
Valued Contributor

Re: Since Cap1 has been doing it...WF figured to start

i've never had any payment put on hold on any of my cards and i almost always make payments for over $100

Learning from my past and rebuilding..

BK discharged 1/10/17
scores: EQ 659 | TU 630 | EX 659

QS 3.8K | WF 500 | Cabela's 3k | ACU 500 |

Message 5 of 13
Valued Contributor

Re: Since Cap1 has been doing it...WF figured to start

I know I can call them and have them release the hold but it just bugs me.  It also makes me wonder if they are seeing something that I am not aware of that is causing them to feel the need to place holds.

 

Oh well, guess I'll not be using cards this weekend....back to good old debit card.



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

Take the FICO Fitness Challenge
Message 6 of 13
Frequent Contributor

Re: Since Cap1 has been doing it...WF figured to start

How are you able to check the holds on your account with Cap One? I want to be aware of this myself, since I just approved for a Capital One Platinum Unsecured card.

Rebuilding...been out of the game for a minute. Now, after suffering I'm back with greater wisdom. Scores: Currently @ around 6 teens to 20's, across all three EQ,TU, EX
Message 7 of 13
Established Contributor

Re: Since Cap1 has been doing it...WF figured to start

you should set up electronic payments from your online banking account. Mine go through the day I schedule the payment and show up on my card available later in that day. I never write checks. I, like you, have low limits and have to pay every week to keep using it. Ive never had any issues in almost a year.

In my wallet: Discover it 6800 CL, Capital One Quicksilver Sig 5k CL, Chase Freedom 4k CL, GCU Patinum Visa 1500 CL
Message 8 of 13
Valued Contributor

Re: Since Cap1 has been doing it...WF figured to start


jcstarkey8826 wrote:

you should set up electronic payments from your online banking account. Mine go through the day I schedule the payment and show up on my card available later in that day. I never write checks. I, like you, have low limits and have to pay every week to keep using it. Ive never had any issues in almost a year.


I know.  Ive been told this but I shouldnt have to do this.  ACH is a secure form of transfer and once the funds clear my bank there is no reason for a hold.  Ive been refusing to set up electronic payments out of spite Smiley Happy



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

Take the FICO Fitness Challenge
Message 9 of 13
Regular Contributor

Re: Since Cap1 has been doing it...WF figured to start

USAA finally put a hold on my last payment but I think that is because I finally closed my checking account with them



Starting Score: 502 5/4/2012
Current Score: 640 08/03/2012
Goal Score: 700


Take the FICO Fitness Challenge

Message 10 of 13