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Regular Contributor
Posts: 179
Registered: ‎10-21-2008
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Re: Starting a thread on different banks' online payment deadlines and quirks

PenFed Visa: Payments initiated on a business day will post the same day. Payments initiated on a weekend or holiday will post the next business day. Your bank account will be debited 2 business days after the day on which your PFCU Visa account is credited.


PFCU's web site does not allow you to set up a future payment. To do that, you'll have to use your bank's online bill payment service. I've noticed that my ING Direct Electric Orange checking account cuts a paper check to pay my PFCU Visa, while HSBC's checking or Online Payment accounts pay electronically. When I use HSBC to pay PenFed, I find that both the credit to my Visa & the debit to my checking account post the day after the pay date that I choose.

Established Contributor
Posts: 832
Registered: ‎01-16-2008
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Re: Starting a thread on different banks' online payment deadlines and quirks

Interesting thread Hauling.  I just read it in it's entirety and didn't see this little gem that I use to insure that my Chase, Discover and Amex balance always show 0.00 when the statement is cut.


I set up electronic "Bill Pay" through my bank (at no charge).  Now, here's the trick I use to get around the three day limit for payments (and overpayments), on the creditor's site.  And BTW, I just used this 3 days ago with Chase.


 My closing date for Chase is the 1st.  I paid the balance at Chase's site on the 29th only to discover the next day (the 30th), there was a new pending charge.


So, I immedietely went to my online banks Bill Pay section and scheduled a payment to Chase for the pending amount and requested it be paid the very next day (the 31st).


So, by pushing the payment from my checking account to the Chase site, I "forced" them to accept the payment. (Incidentally, I have previously spoken with each of the creditors and verified that they will not refuse a payment made electronically, even if it overpays the account).


Yesterday (April 1), I checked my Chase account and sure enough, both the pending charge and the payment had posted on the 31st. and my statement balance is 0.00.


GAWD . . . . I'm becoming a credit score addict . . . . Smiley Very Happy


Starting Score: TU 737 EQ 721
Current Score: TU 741 EQ 741
Goal Score: TU 765 EQ 760

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Moderator Emerita
Posts: 28,095
Registered: ‎04-01-2007
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Re: Starting a thread on different banks' online payment deadlines and quirks

Great post! I had wondered if that might be a work-around.

lol, another junkie lost...
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

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