The nerve of Cap One!!!

[TeeandDee]

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@R2P2home wrote:

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

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+1

LMBO!!!!!!

[TeeandDee]

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@mindacid wrote:

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.

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I haven't had it happen to me before on any other cards....now I'm on notice with Cap One! LOL!  Funny thing is I've made large payments before so I'm not sure what "triggered" it so to speak this time.  Think I'll take your advice and break the payments down from now to hopefully avoid them doing this again.  Just never thought this would be an issue ...thought they'd be glad to get my money! LOL!

[catsndogs]

When I wanted to pay off nearly all my Cap One balance, just a few days before statement close, I simply paid cash in a branch ofc. Next day, all's good.

If you are paying down to raise your FICO, just don't wait 'till the last minute. I don't think Cap One is suspicious of "large payments".  Just plan ahead an extra day or two. 

[Wolf3]

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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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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.

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Well then IMO, you have a right to be upset.

[mauve]

Wait, people use Capital One when they have other cards?

My Capital One card has one thing charged every month - my cell phone bill.  It's paid a little before the statement.  I just want to keep them open and reporting as my oldest card.  I have no intention of ever closing it or of moving it into use...although if I find some other recurring bill that costs less than the cell phone bill, I will switch that to Capital One. 

I don't think I even have a physical card for them right now.

[snowangel]

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@visorboy1974 wrote:

It's happened to me before with them...typically the first 6 months the account was open.  

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Same thing happened here but only for the first 3 or 4 months.  I had to call them every time to I made a payment to release the funds.  It was frustrating.

I'm happy they gave me a card, though I'm not using it any longer.

[injustifiiable]

Have you tried doing a "push" payment through your bank's online banking? I've heard here that this will release the funds faster. I've yet to know for sure as I've just made my first payment on a Capital One card just this morning...hahaha.

[TeeandDee]

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@snowangel wrote:

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@visorboy1974 wrote:

It's happened to me before with them...typically the first 6 months the account was open.  

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Same thing happened here but only for the first 3 or 4 months.  I had to call them every time to I made a payment to release the funds.  It was frustrating.

I'm happy they gave me a card, though I'm not using it any longer.

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Wow so you definately know what I'm talking about!!!  Wierd thing for me is that I've had this account is over a year old and this is the first time it's happened to me. I've placed mine in the sock drawer and as of today and just left one recurring charge on it each month for $7.99 to keep it active. Problem solved! lol!

[TeeandDee]

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@injustifiiable wrote:

Have you tried doing a "push" payment through your bank's online banking? I've heard here that this will release the funds faster. I've yet to know for sure as I've just made my first payment on a Capital One card just this morning...hahaha.

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Hi injustifiable!  No I haven't tried that.  I've paid via the Capital One website for the last year and never had a problem before today.  Now that I've put it in the sock drawer and left only a $7.99 recurring charge, I hope they don't see that as a Large Payment. issue...LOL!!!!!!

[Middleswarth]

This happened to me as well.  I always pay via my USAA bill pay.  For some reason I had one payment put on hold.  I was told it was because it was a large payment made before my statement.  I asked the rep if the real reason was the cash back points would accumulate too fast.  Of course not.  Yeah right...