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Valued Contributor
Duncanrr
Posts: 2,841
Registered: ‎06-08-2012

Walmart Discover keeps putting hold on payments

[ Edited ]

I paid about $1000 to Walmart on 10/31/12.  They processed the charge and updated my balance on 11/3/12.  (Payment cleared my bank on 11/2/12).  Fast forward to 11/6/12 and my available balance still hasnt been updated!  I went through this crap with Cap1 and now GE.  I shouldnt have to call to free up available credit.

 

I stopped using Cap1 in part because of this and guess I'll have to stop using Walmart as well.  (the fact that they take forever to clear pending charges and how they almost always seem to have a reported balance makes it so I already dont use my card the 2nd half of the month.  With taking over a week to clear my payments that takes care of me using the card for the 1st week of the month.

 

Guess I will only use my Walmart card the 2nd week of the month.  You got that Walmart, you are my official 8th through 14th day of the month card.

 

BLAH!



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Regular Contributor
snsforever916
Posts: 144
Registered: ‎06-28-2012

Re: Walmart Discover keeps putting hold on payments

This is what I've encountered with Wally and Capital One too. I've been able to get Cap1 to release the funds after it clears though. Credit cards are starting to realize that consumers are understanding how to maximize our Fico scores. Mid cycle updates and quick to report a high balance but take forever to report low/zero balance!!!

Starting Scores:
Lender Pull 7/10/2012 EQ 585 EX 617 TU 551
8/2012 MyFico EX 598 01/2013 EX 608 2/2013 EX 620 :smileysurprised:)
9/12/2012 624 (Fico Discover)
02/7/2013 660 (Fico Wally)
At least I'm heading in the right direction!!!

Goal Score:740+, home loan and Get rid of subprime cards!!!



Established Contributor
ccnewcc
Posts: 560
Registered: ‎09-29-2012

Re: Walmart Discover keeps putting hold on payments

Ohhhh...so a Walmart Discover is backed by GE and not actually Discover?  I see.

Valued Contributor
Duncanrr
Posts: 2,841
Registered: ‎06-08-2012

Re: Walmart Discover keeps putting hold on payments

Its going to get to the point that in order to maximize your FICO you will not be able to use your cards for a month or so prior to apping (or have a card with a really high CL - thanks NFCU :smileyhappy: )



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

Take the FICO Fitness Challenge
Established Contributor
jcstarkey8826
Posts: 704
Registered: ‎06-01-2012

Re: Walmart Discover keeps putting hold on payments


Duncanrr wrote:

I paid about $1000 to Walmart on 10/31/12.  They processed the charge and updated my balance on 11/3/12.  (Payment cleared my bank on 11/2/12).  Fast forward to 11/6/12 and my available balance still hasnt been updated!  I went through this crap with Cap1 and now GE.  I shouldnt have to call to free up available credit.

 

I stopped using Cap1 in part because of this and guess I'll have to stop using Walmart as well.  (the fact that they take forever to clear pending charges and how they almost always seem to have a reported balance makes it so I already dont use my card the 2nd half of the month.  With taking over a week to clear my payments that takes care of me using the card for the 1st week of the month.

 

Guess I will only use my Walmart card the 2nd week of the month.  You got that Walmart, you are my official 8th through 14th day of the month card.

 

BLAH!


are you paying from your online banking? Thats the only way I pay my credit cards and they all (including WM) show the next day. Charter one even shows that night its processed.

In my wallet: GCU Patinum Visa 1500 CL, Charter One Platinum Rewards 500 CL, Chase Freedom 800 CL, Wal Mart Discover Card 6300 CL, Kay Jewelers 3000 CL
Valued Contributor
Duncanrr
Posts: 2,841
Registered: ‎06-08-2012

Re: Walmart Discover keeps putting hold on payments

No.  I pay through their sites.  I was told to push payments from my bank for Cap1 as well.  I shouldnt have to go that though.  I dont mind a day or two hold but I made the payment a week ago.  Thats really too long.



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

Take the FICO Fitness Challenge
Frequent Contributor
Imua
Posts: 291
Registered: ‎01-17-2009

Re: Walmart Discover keeps putting hold on payments

luckily, i've never had a problem with either BofA or Chase putting a hold on even large payments (e.g. ~$1k).

 this past summer, i had to carry balances on both cards and paid off ~$1k to each for 3 months.

payments were made on their websites.

 

i would be very grumpy if either had put a hold on my payments!


BofA visa $9.4k ... BofA Cash Rewards visa sig $10k ... Cap 1 Venture1 visa sig $10k ...
Chase Freedom visa $10k ... Macy's $1.5k ... Macy's Amex $5k ... Sam's Club $6.3k
myFICOs as of 3/25/14:...EX=809 .... EQ=802....TU=787
Established Contributor
bettercreditguy1
Posts: 746
Registered: ‎02-11-2012

Re: Walmart Discover keeps putting hold on payments

Have you ever been in Pay Chex or any other system for returned checks? Does your history have late payments or other items?. Do you have high Utilization? These are just a few of the "red flags" that could make them tread cautiously.  The only firm I had to wait for a few days for clearance of my Check was Cap One. After a year or so of history with them, then it did not matter. All of my accounts now "reset" the day payment is posted. In my wallet,

Amex Gold Revolver, Chase Freedom, Chase Airlines, Discover, Community America, PenFed, and Capitol One. ps, i have never had an electronic payment or a check denied or returned.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico), EQ 849 (Next Gen 5/27/14 Penfed)


Remember the Three P's: Pay early in Full, Pay on Time, Patience
Established Contributor
snowkitty
Posts: 985
Registered: ‎09-10-2012

Re: Walmart Discover keeps putting hold on payments

[ Edited ]

I have the same problem with them. I make 2 payments with them a month since my limit is low. The first payment took 4-5 days to go through and then the second one took over a week. I called them about it and they said they are not set up to take multiple payments and that I should only pay once a month. They also told me it takes longer on new accounts. I know you said you paid yours all at once so I think they just have a slack computer system of something. I pay through their site as well.....I may try and pay the next one through BOFA billpay and see if that makes a difference....I would think it would take longer since it's coming from a 3rd party but who knows?

 

 

Edit: And I just thought about it.....I have other GE accounts and they are always credited super fast....especially my Sam's Discover so it must be a walmart thing??

TU Fico 714 | Sesame 742 | Credit Karma 762 | Wal-Mart FICO 734 | EX FICO 695 (1/28/13) | EQ 740 (3-21-13)

Amex Blue Sky 7.2k | Amex BCE 13.1k | Citi Diamond Preferred 10.2k | CSP 5k | Bofa Cash 9k | Boa Travel 10k | Discover More 3k | Chase SW 5k | Wal-Mart 3.3k | Amazon 5k | Old Navy Visa 5k | Shell 1200 | BP 400 | VS 1500 | Sam's Discover 8.5k | FNBO Amex 16k | Chase Freedom 1.3k | Home Depot 5k | Brylane Homes 1600 | BML 2820

App free since 12/11/13*
Valued Contributor
Repo-ed
Posts: 2,953
Registered: ‎02-09-2012

Re: Walmart Discover keeps putting hold on payments

I think the easiest way to resolve this issue, would be to not use their card.  I'm sure one of the other recent cards you've recieved have much better spending power/rewards than the wally-world discover.

 

I carry my Amex Delta Gold and Barclay Visa cards only (and my debit card, when I have to go to Aldi's to pick-up groceries) and it makes it easy to manage util/payments, etc..


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