topic Re: Discover question in Credit Cards

Discover question

Anonymous — Fri, 25 Mar 2016 14:40:40 GMT

my discover statements cut on the 27th of each month. This is the first time that's fallen on a weekend for me. I just made a payment today (Friday morning) now that is supposed to post to my account same day. Question is will it not be til Monday until it posts or will that payment be reflected on my statement when it cuts on Sunday morning?

Re: Discover question

SouthJamaica — Fri, 25 Mar 2016 14:46:00 GMT

@Anonymous wrote:
my discover statements cut on the 27th of each month. This is the first time that's fallen on a weekend for me. I just made a payment today (Friday morning) now that is supposed to post to my account same day. Question is will it not be til Monday until it posts or will that payment be reflected on my statement when it cuts on Sunday morning?

I refuse to answer the question, on the ground that it makes me nervous when people cut it too close

In any event I can't answer the question because you haven't specified how you made the payment.

Re: Discover question

Anonymous — Fri, 25 Mar 2016 14:48:46 GMT

It will reflect on your statement that you made a payment and the balance reported will be the balance you have after making the payment

Edit: Assuming you made the payment online

Re: Discover question

lord_kinbote — Fri, 25 Mar 2016 14:50:24 GMT

@Anonymous wrote:
my discover statements cut on the 27th of each month. This is the first time that's fallen on a weekend for me. I just made a payment today (Friday morning) now that is supposed to post to my account same day. Question is will it not be til Monday until it posts or will that payment be reflected on my statement when it cuts on Sunday morning?

If the statement cuts on the 27th and you made a payment today, the payment will be reflected on the current statement. This assumes the funding method is a bank source on the discover side. If you pushed the payment from your bank, all bets are off - unless of course the push came from Discover Bank.

Re: Discover question

Anonymous — Fri, 25 Mar 2016 14:56:58 GMT

Great information. I was wondering this myself. I planned on figuring it out soon, as my billing cycle is almost to the end on my IT card

Re: Discover question

Anonymous — Fri, 25 Mar 2016 15:56:09 GMT

I made the payment through the discover app from my Wells Fargo checking account. They say payments made before midnight ET will be posted to the account the same day. It usually does and shows up the next morning but I'm not sure since it falls on a weekend now. I'd rather it report the $25 balance I planned on leaving than $500. We'll see though!

Re: Discover question

Berk — Fri, 25 Mar 2016 16:22:09 GMT

I have paid my Discover both ways - from the Discover web site on the due date and from my credit union's web site on the due date. Both have posted to my card on the same day I made the payment. My experience has been that if I pay through Discover, they don't care about weekend and holidays. If I pay through my CU and the due date falls on a weekend or holiday, their system automatically changes the pay date to the day before the weekend or holiday. I have yet to have a late/no payment.

Re: Discover question

Anonymous — Fri, 25 Mar 2016 16:51:34 GMT

Payments always post faster for me when I pay through the discover site. You should be fine.

Re: Discover question

ojefferyo — Fri, 25 Mar 2016 16:56:18 GMT

@Anonymous wrote:
my discover statements cut on the 27th of each month. This is the first time that's fallen on a weekend for me. I just made a payment today (Friday morning) now that is supposed to post to my account same day. Question is will it not be til Monday until it posts or will that payment be reflected on my statement when it cuts on Sunday morning?

Depending on how long you've had the account. Initially when I first got my account it was credited properly but there was a hold on the avialable funds. Once they establish a pattern for you then it's usually reflected the next day, for me it is anyways.

Re: Discover question

Anonymous — Fri, 25 Mar 2016 17:36:27 GMT

I've made multiple payments of usually around $200 a time and it always posts the next day but again have never had to do it on a weekend like this

Re: Discover question

Anonymous — Sat, 26 Mar 2016 11:41:18 GMT

Update:

Scheduled the payment from my WF checking account on the discover app and the payment was reflected on my account this morning when I woke up. So Friday payments will not be held for processing through the weekends if made on.

Re: Discover question

Anonymous — Sat, 26 Mar 2016 12:48:25 GMT

I found this information on Discover's website. Hope it helps.

Payments Other Than Cashback Bonus Redemptions

Bank Payments made by 12:00 midnight Eastern Time, except your Statement Closing Date, will be credited to your account effective as of that same day. Bank Payments made by 5:00 p.m. Eastern Time on your Statement Closing Date will be credited to your account effective as of that day. Bank Payments scheduled for a future date will be credited on the scheduled date.

Bank Payments made online may be modified until 5:00 p.m. Eastern Time on the day such payment is scheduled. Same day Bank Payments made online after 5:00 p.m., may be modified until midnight Eastern Time of that day.

Bank Payments will be withdrawn from your bank account within one to three business days following the date such payment is made or scheduled.

Up to 2 Bank Payments using different bank accounts can be made per day.

Bank Payments returned for insufficient funds may be resubmitted up to two more times for payment. A returned payment fee in the amount set forth in your Cardmember Agreement will be assessed only once for a returned Bank Payment regardless of the number of times that such payment is submitted.

Re: Discover question

Anonymous — Sat, 26 Mar 2016 14:30:12 GMT

Excellent! Thank you so much! If I try paying on a Saturday or Sunday, it won't reflect that on the app until Monday, but when it shows up it does show as being paid on the day I sent it. Just won't reflect on my balance or available credit

Re: Discover question

AAstra — Sun, 27 Mar 2016 20:03:25 GMT

The payment may not clear until after the weekend, but as far as Discover is concerned, it is paid on the date you hit the payment button. No worries about a "late or missed" payment here.

Re: Discover question

Anonymous — Sun, 27 Mar 2016 20:36:47 GMT

Wasn't worried about a missed payment because I make multiple payments a month. It's already cleared from my bank and on discovers site

Re: Discover question

Anonymous — Sun, 27 Mar 2016 23:45:07 GMT

@ojefferyo wrote:
@Anonymous wrote:
my discover statements cut on the 27th of each month. This is the first time that's fallen on a weekend for me. I just made a payment today (Friday morning) now that is supposed to post to my account same day. Question is will it not be til Monday until it posts or will that payment be reflected on my statement when it cuts on Sunday morning?
Depending on how long you've had the account. Initially when I first got my account it was credited properly but there was a hold on the avialable funds. Once they establish a pattern for you then it's usually reflected the next day, for me it is anyways.

Isn't the hold just an impact on available credit. So let's say your CL is $2000, your current balance is $500, and you pay $450. AFAIK, assuming you pay before the deadline on Discover's site, the payment will post that day, your balance will be $50 (and this is what will be reported when the statement cuts). Depending on your history, your available credit may stay at $1,500, but the balance should reflect the payment.

Re: Discover question

Anonymous — Mon, 28 Mar 2016 02:08:51 GMT

I'm pretty sure that's how it works. Your balance is lowered to reflect the payment but your available credit is held until they clear it. That's how it's worked for me with cap1