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