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New Contributor
Posts: 55
Registered: ‎06-12-2012
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Tried to make a payment, was told No? Why?

I have 3 credit cards. I enjoy trying to keep a zero balance on them at all times, as much as possible.  On November 13th (2 days ago), I paid off my chase credit card balance (~$1800 in honeymoon expences)... On November 9th, I put a down payment of $671 on my Chase card for a shed... for whatever reason, the down payment of $671 didn't hit my account until yesterday. No problem there. I sign on to pay it off, (statement ends today, so I was aiming to reflect a $0 balance again), but was denied because "I made a recent payment already."

 

So I call and simply ask what my balance is... the guy tells me, $671. I ask to pay it off, and he says no, lol. I ask if there's anyway he can override that odd rule, but he says they cannot.  He says I have to wait 3 days from my previous payment, which would be tomorrow.

 

This is no big deal, it won't affect me at all, but it sort of irritates me that they won't let me pay off my balance. I've never heard of being turned away when attempting to pay off a bill!

 

Is there any reason why they make you wait 3 days? My payment already cleared from my bank account, so they have my previous payment already from 2 days ago....

Established Contributor
Posts: 560
Registered: ‎09-29-2012
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Re: Tried to make a payment, was told No? Why?

That is odd.

 

What did the CSR say?  Same thing?  No, cuz you already made a pmt?

Established Contributor
Posts: 792
Registered: ‎08-30-2011
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Re: Tried to make a payment, was told No? Why?

Push the payment from your banks bill pay.

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Frequent Contributor
Posts: 455
Registered: ‎01-04-2012
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Re: Tried to make a payment, was told No? Why?

i think your payments are to close together since how you just made a payment 2 days ago. I make like 3 to 4 payments a month with chase but, its a week apart from each payment. Thanks for the info its good to know just in case i actually did make a payment 2 days apart.

Valued Contributor
Posts: 2,528
Registered: ‎11-11-2010
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Re: Tried to make a payment, was told No? Why?

This is a Chase policy. My guess this policy is there to make sure there is no credit card fraud or money laundering going on.

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Established Contributor
Posts: 504
Registered: ‎08-28-2012
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Re: Tried to make a payment, was told No? Why?

I've bumped up against that too.  Chase requires a delay between payments.  I was trying to have a $0 balance report on the CSP this month but had charges pending.  it wouldn't let me pay more than the current balance and I couldn't make another payment when the new charges actually accrued.  Not a big deal, but annoying.

 

I can't push the payment from my bank account because it's all through Chase's system.

 

Chase did notify me recently that they have a new system they plan to roll out soon that will eliminate the delay between intiating a payment and having it credited.  Maybe that will solve the problem.  

Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
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Re: Tried to make a payment, was told No? Why?

ACH clearinghouse usually takes 3 days.  They usually will allow you to "push" a payment from your bank though.  I guess its a risk limiting thing...  They don't want you to pay off a large amount with a ACH transfer, to recharge up the card again without being for sure that the funds will clear.

 

At least they credit the funds instead of putting a "hold payment" like Cap 1 does


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Valued Contributor
Posts: 2,802
Registered: ‎10-10-2012
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Re: Tried to make a payment, was told No? Why?

That new system would be nice.
I also experienced this a couple months ago. Made a payment the day before the statement cut. Left a small balance to report, tried again the day after statement generated and it would not let me pay. Had to wait a couple days.

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Valued Contributor
Posts: 1,590
Registered: ‎08-30-2011
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Re: Tried to make a payment, was told No? Why?

+1 on the problem with Chase.

 

Ran into this as well, the 3 day wait period, not only for Chase but for my JP Morgan as well.  My own resolution is to ALWAYS make sure my balance is at zero regardless, 4 days prior to the payment due date, to give me some wiggle room

 

As a sidebar to this, I also ran into a problem with Wells Fargo, only allowing 2 payments a month...period.  They won't allow more than that, and are inflexible about it.  I did in fact "push" a payment through from my credit union, but it has taken 3 days for it to go through and I'm not completely sure it's gone through, since the WF site is not yet showing the payment.  This also resulted in my having a balance of $72 that I did not want to have, due to the due date approaching...and passing...before the pushed payment hit.  Another lesson learned.  No payment was required, just wanted to zero out my balance. 

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Posts: 1,257
Registered: ‎07-18-2009
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Re: Tried to make a payment, was told No? Why?


webhopper wrote:

ACH clearinghouse usually takes 3 days.  They usually will allow you to "push" a payment from your bank though.  I guess its a risk limiting thing...  They don't want you to pay off a large amount with a ACH transfer, to recharge up the card again without being for sure that the funds will clear.

 

At least they credit the funds instead of putting a "hold payment" like Cap 1 does



Yep, that's exactly what it is. There is a fairly large amount of fraud done this way and has, for some banks, cost them more than the card's CL. While the vast majority of folks that pay like the OP are great customers and not fraudsters the financial impact of fraudsters trickles down.


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