topic Re: Experience with Barclays and multiple payments per minth in Credit Cards

Experience with Barclays and multiple payments per minth

Anonymous — Thu, 26 Mar 2015 13:37:54 GMT

I was recently approved for an arrival+ card with a $5k cl. This is my first billing cycle and I have decided to make it my everyday card for the 2.2% in travel credits. Well I have spend almost $4k already (in 3 weeks). I wanted to keep the utilization down on it so I have made 3 payments so far. One for $500 one for $1000 and one for $1800. Everything was fine with the first $500 payment and The $1000 and $1800 have cleared my bank account and show up on my transactions but they have a PMNTMONYHOLD for the equivalent amounts in the pending area which is counting against my available credit. My question is are they doing this because it is a new account and in the future they will go through like normal or is this something I should expect ever month going forward? If so I'm gonna have to get a CLI earlier than expected or change my payment plans.

Thanks

Re: Experience with Barclays and multiple payments per minth

CreditCuriosity — Thu, 26 Mar 2015 13:43:27 GMT

I have never personally had this.. I am venturing just a guess is because they aren't familliar with you and you are a new customer.. My payments haven't been as large though w/regards to Barclay's in the 100's at a time typically do 100-400 dollar payments several times a month. Sure it has happened to others.. See what other people have to say as well.

Whenever I see a blance over a $100 on a CC account I just hit Pay in full.. Guess it is just a habit now after messing up my credit when I was younger and still feeling the impacts of it.

Re: Experience with Barclays and multiple payments per minth

Anonymous — Thu, 26 Mar 2015 13:47:22 GMT

@Anonymous wrote:
I was recently approved for an arrival+ card with a $5k cl. This is my first billing cycle and I have decided to make it my everyday card for the 2.2% in travel credits. Well I have spend almost $4k already (in 3 weeks). I wanted to keep the utilization down on it so I have made 3 payments so far. One for $500 one for $1000 and one for $1800. Everything was fine with the first $500 payment and The $1000 and $1800 have cleared my bank account and show up on my transactions but they have a PMNTMONYHOLD for the equivalent amounts in the pending area which is counting against my available credit. My question is are they doing this because it is a new account and in the future they will go through like normal or is this something I should expect ever month going forward? If so I'm gonna have to get a CLI earlier than expected or change my payment plans.

Thanks

I have not experienced Barclays but I know for sure folks have had this happen (or a variation) with Wells Fargo.

Re: Experience with Barclays and multiple payments per minth

Anonymous — Thu, 26 Mar 2015 13:48:23 GMT

I feel the same way...those 3 payments were PIF but I wasn't done spending for the month . Now I'm getting ready to take a 2 day getaway and would like it do go on my Arrival+ but I currently only show $1200 available credit and would really like to not run it up to line 90% util

Re: Experience with Barclays and multiple payments per minth

Anonymous — Thu, 26 Mar 2015 14:02:09 GMT

Just call them to let them know your payments have cleared the bank. They will probably do a 3 way call with your bank to make sure and then more than likely, they will release the hold. Also, make sure the payment clears on the first before you do a second payment or try to only make a couple of payments monthly. This happened to me with Chase because of my then $500 limit on Freedom. I was making several payments monthly.

Re: Experience with Barclays and multiple payments per minth

CreditCuriosity — Thu, 26 Mar 2015 14:03:22 GMT

@Anonymous wrote:
I feel the same way...those 3 payments were PIF but I wasn't done spending for the month . Now I'm getting ready to take a 2 day getaway and would like it do go on my Arrival+ but I currently only show $1200 available credit and would really like to not run it up to line 90% util

I doubt it would hurt to call them and ask them to reflect the payment as you plan on taking a trip and would like to use the card.. I remember I did a 3k payment on my Cap1 once and that was out of the normal for me and they put a hold on it, I called up and asked what this was about and basically they said it was for a larger amount then normal so they put a hold on it, but they agreed to remove it as it already cleared the bank. So worth a shot if you need it now?

Re: Experience with Barclays and multiple payments per minth

ADARPegasus — Thu, 26 Mar 2015 14:11:47 GMT

@Anonymous wrote:
I was recently approved for an arrival+ card with a $5k cl. This is my first billing cycle and I have decided to make it my everyday card for the 2.2% in travel credits. Well I have spend almost $4k already (in 3 weeks). I wanted to keep the utilization down on it so I have made 3 payments so far. One for $500 one for $1000 and one for $1800. Everything was fine with the first $500 payment and The $1000 and $1800 have cleared my bank account and show up on my transactions but they have a PMNTMONYHOLD for the equivalent amounts in the pending area which is counting against my available credit. My question is are they doing this because it is a new account and in the future they will go through like normal or is this something I should expect ever month going forward? If so I'm gonna have to get a CLI earlier than expected or change my payment plans.

Thanks

It has happened to me before when i first opened my Barclay Wyndham Rewards Visa. Its because your account is new and they dont have a payment history for you. Its not like that forever after the first few large payments they wont hold them anymore. They just want to make sure that your didnt get the card and now making bad payments in order to get the credit and use it. Just trying to shield themselves from any fraud and loss. When i first opened mine i used 5k and then paid it off and they held the payment for 10 business days but after it cleared and i made a 5k payment the next month they didnt hold it this time as long as you use the same bank account for the payments they wont hold your payments after a while.

Another thing you can do instead of waiting is if the payment has cleared your bank account already, you can call Barclays and they will do a conference call with you and your bank to check if the payment has cleared and if it has cleared they will release the hold and make the credit available! You can do this everytime they put a hold you can call and they can call your bank just during the period when they put holds on your payments!

Hope this helped!

Re: Experience with Barclays and multiple payments per minth

noobody — Thu, 26 Mar 2015 19:33:36 GMT

this card has no pre set credit limit, so charge away, since you will PIF anyway, nice way to get a CLI in 6 month for sure.

Re: Experience with Barclays and multiple payments per minth

ojefferyo — Thu, 26 Mar 2015 19:40:34 GMT

@noobody wrote:
this card has no pre set credit limit, so charge away, since you will PIF anyway, nice way to get a CLI in 6 month for sure.

There's a certain threshold that the "no preset limit" will stop at and where it's at is anybody's guess.

Re: Experience with Barclays and multiple payments per minth

Anonymous — Thu, 26 Mar 2015 20:31:16 GMT

I forgot that was one of the features of the world elite MasterCard...what does that even mean, why give me a credit limit if there is "Npsl"? I am just going to call them later but haven't had time to use the phone so I thoufht I'd see what you guys thought. Thanks for the help

Re: Experience with Barclays and multiple payments per minth

Ghoshida — Thu, 26 Mar 2015 21:06:28 GMT

@Anonymous wrote:
I forgot that was one of the features of the world elite MasterCard...what does that even mean, why give me a credit limit if there is "Npsl"? I am just going to call them later but haven't had time to use the phone so I thoufht I'd see what you guys thought. Thanks for the help

This only means that if you overspend your credit limit by X dollars, that X gets added to your regular min-payment in the next statement. Rest of the balance you can carry month to month; doesn't matter for people who always PIF but that's the technicality.

Back to the original point though. OP, I am curious; did you use Barclay's own payment option or did you push the money from your bank? I wonder if there's a difference. But as others have stated, calling might be the best option.

I used to make (and still make) multiple payments on my Sallie Mae mastercard. Didn't face a problem. For most part, I pay using the make-a-payment option of the credit card company rather than pushing a payment from my bank or using a bill payment feature.

Re: Experience with Barclays and multiple payments per minth

Anonymous — Thu, 26 Mar 2015 21:32:21 GMT

So I just called them and the super helpful lady released both holds and said it was just a precautionary measure and shouldn't have the issue in the future. Thanks for your guys help.

About the npsl, if I go over $5k won't it kill my FICO scores of it reports that way even if I pay it off. I know FICO has no memory of util but would it have a memory that I "went over my limit"? I think I recall seeing highest balance next to credit limit at least on tu.

Re: Experience with Barclays and multiple payments per minth

Anonymous — Thu, 26 Mar 2015 21:33:33 GMT

Also, I used the payment feature directly from Barclays website

Re: Experience with Barclays and multiple payments per minth

Ghoshida — Thu, 26 Mar 2015 21:44:00 GMT

@Anonymous wrote:
So I just called them and the super helpful lady released both holds and said it was just a precautionary measure and shouldn't have the issue in the future. Thanks for your guys help.

About the npsl, if I go over $5k won't it kill my FICO scores of it reports that way even if I pay it off. I know FICO has no memory of util but would it have a memory that I "went over my limit"? I think I recall seeing highest balance next to credit limit at least on tu.

The score won't have a memory; now it'll be visible to other lenders especially on manual review. I don't know how they're going to view it.