Credit Cards

[Wolf3]

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TeeandDee wrote:

I've been with Cap One for more than a year and this has never happened before.  I was shocked! I've always PIF and have never had a problem.  This was the first time they pulled this!  I was like oh no you don't! LOL!  I checked back on the website and it has all been resolved.  The hold is gone and my available balance is what it should be.  I hope they don't start doing this often because if so, I will just close the account and move on....lol

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They said it was large payment which means your previous payments are usually smaller.   If that is true, then the hold is common practice with many banks.   

[TeeandDee]

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Wolf3 wrote:

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TeeandDee wrote:

I've been with Cap One for more than a year and this has never happened before.  I was shocked! I've always PIF and have never had a problem.  This was the first time they pulled this!  I was like oh no you don't! LOL!  I checked back on the website and it has all been resolved.  The hold is gone and my available balance is what it should be.  I hope they don't start doing this often because if so, I will just close the account and move on....lol

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They said it was large payment which means your previous payments are usually smaller.   If that is true, then the hold is common practice with many banks.   

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No, that is not true.  It was not my largest payment.  Also, even if it were, if someone consistently pays in full for over a year, I still think it's ridiculous to not credit a payment that has cleared their bank.  If the payment was not cleared, I could see holding off, but the payment cleared the bank...was credited to my account, but was made unavalable to me in my Available Balance. If that's common practice, it's not cool with me especially since it's never happened to me before.  I could have been travelling or in some sort of emergency and needed to use my card!!  As I've said, if it becomes a habit with them, I will close the account since in my opinion that's bad business and unreliable....just my opinion.

[mindacid]

Yep, that happened to me with the Best Buy Reward Zone MC.  After the first and only time, I learned to break down my payments into $99 chunks.  Until reading your post and some of the replies I thought it was a craptasticly unique feature of that particular card.  It contributed towards my decision to close that account.

I wonder if any of the top tier cards have the same practice.   Has anyone's large payment to a top tier card been subject to a hold like in this case?  If it did, what was the size of the payment?  In my case with BBRZ MC, the threshold seemed to be $100.

[FrugalRican]

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mindacid wrote:

I wonder if any of the top tier cards have the same practice.   Has anyone's large payment to a top tier card been subject to a hold like in this case?

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Define... "large" and maybe I can give you an answer.

[pkosheta]

To quote a great sage of the 80s/90s "How Rude"!!!

[mindacid]

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FrugalRican wrote:

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mindacid wrote:

I wonder if any of the top tier cards have the same practice.   Has anyone's large payment to a top tier card been subject to a hold like in this case?

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Define... "large" and maybe I can give you an answer.

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Well, I don't know.  Let's say over either $250 or $500.

[jausanka]

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TeeandDee wrote:

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Wolf3 wrote:

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TeeandDee wrote:

I've been with Cap One for more than a year and this has never happened before.  I was shocked! I've always PIF and have never had a problem.  This was the first time they pulled this!  I was like oh no you don't! LOL!  I checked back on the website and it has all been resolved.  The hold is gone and my available balance is what it should be.  I hope they don't start doing this often because if so, I will just close the account and move on....lol

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They said it was large payment which means your previous payments are usually smaller.   If that is true, then the hold is common practice with many banks.   

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 If that's common practice, it's not cool with me especially since it's never happened to me before.  I could have been travelling or in some sort of emergency and needed to use my card!!  As I've said, if it becomes a habit with them, I will close the account since in my opinion that's bad business and unreliable....just my opinion.

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So close the card if it makes you so emotionally overworked.  Find a card that isn't going to make you get so emotional and feel so wronged.  Plenty out there.  Give someone else your business.  Not a big deal.

Banks are businesses, they are not your friends.  They do things to protect themselves and their shareholders.. If you don't like the anti-fraud mechanisms they employ when new customers make abnormal purchases or payments, you are under no obligation to stay with them.

good luck!

[R2P2home]

LOL,I think someone works for CAP ONE!!!!

[TeeandDee]

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jausanka wrote:

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TeeandDee wrote:

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Wolf3 wrote:

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TeeandDee wrote:

I've been with Cap One for more than a year and this has never happened before.  I was shocked! I've always PIF and have never had a problem.  This was the first time they pulled this!  I was like oh no you don't! LOL!  I checked back on the website and it has all been resolved.  The hold is gone and my available balance is what it should be.  I hope they don't start doing this often because if so, I will just close the account and move on....lol

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They said it was large payment which means your previous payments are usually smaller.   If that is true, then the hold is common practice with many banks.   

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 If that's common practice, it's not cool with me especially since it's never happened to me before.  I could have been travelling or in some sort of emergency and needed to use my card!!  As I've said, if it becomes a habit with them, I will close the account since in my opinion that's bad business and unreliable....just my opinion.

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So close the card if it makes you so emotionally overworked.  Find a card that isn't going to make you get so emotional and feel so wronged.  Plenty out there.  Give someone else your business.  Not a big deal.

Banks are businesses, they are not your friends.  They do things to protect themselves and their shareholders.. If you don't like the anti-fraud mechanisms they employ when new customers make abnormal purchases or payments, you are under no obligation to stay with them.

good luck!

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Wow....I don't seem to be the one emotionally overworked......you need to get a grip!  Your rudeness is not necessary. 

[jausanka]

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R2P2home wrote:

LOL,I think someone works for CAP ONE!!!!

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...

You caught the tater.