topic Re: Funds on hold after payment is made in Credit Cards

Funds on hold after payment is made

masscredit — Wed, 07 Sep 2016 21:18:38 GMT

I had balances on all of my Cap 1 cards this month. Paid them all down to $0 last week. The full credit line is avaialble on two of them but the other two are showing the available credit as what it was before I made the payments. Balances are zero. I called to ask about this yesterday and was told that they do that sometimes to make sure the funds are available. It was only a little over $1300. on one card and $2800. on the other. It's not $100 but it's not $20K. I know credit card companies do this once in awhile but it's the first time I've had it happen to me.

Re: Funds on hold after payment is made

Pway — Thu, 08 Sep 2016 19:39:07 GMT

Interesting, I have never had this problem with Capital One. My payments always post as usual. Back in December, I paid off my Quick Silver One and Platinum and the payments was well over 1k and there was no issues.

Re: Funds on hold after payment is made

Anonymous — Fri, 09 Sep 2016 02:35:15 GMT

@masscredit wrote:
I had balances on all of my Cap 1 cards this month. Paid them all down to $0 last week. The full credit line is avaialble on two of them but the other two are showing the available credit as what it was before I made the payments. Balances are zero. I called to ask about this yesterday and was told that they do that sometimes to make sure the funds are available. It was only a little over $1300. on one card and $2800. on the other. It's not $100 but it's not $20K. I know credit card companies do this once in awhile but it's the first time I've had it happen to me.

I've had Cap1 do this to me but it was two years ago and was on my secured cc. I made two payments with a couple of days of each other. The first payment was fine - it was the second payment they put a "funds hold".

They said if I wanted them to release the hold I would have to agree with doing a three way call with my bank. My bank would have to confirm that there were funds available in my account.

Re: Funds on hold after payment is made

Aahz — Fri, 09 Sep 2016 02:38:54 GMT

@masscredit wrote:
I had balances on all of my Cap 1 cards this month. Paid them all down to $0 last week. The full credit line is avaialble on two of them but the other two are showing the available credit as what it was before I made the payments. Balances are zero. I called to ask about this yesterday and was told that they do that sometimes to make sure the funds are available. It was only a little over $1300. on one card and $2800. on the other. It's not $100 but it's not $20K. I know credit card companies do this once in awhile but it's the first time I've had it happen to me.

The two payments on hold make up just over 8% of your total credit lines with CapOne. Plus the two other payments that "cleared". That's a pretty big percentage for them to see coming in without precedent. A hold (while annoying) seems rational to me.

Re: Funds on hold after payment is made

masscredit — Tue, 13 Sep 2016 11:55:25 GMT

I just had this happen again with Cap1. I wanted all of my accounts with them at $0.00. My automatic Netflix payment of $11.99 posted to the account so I paid it off on Saturday. As of yesterday (Monday), the account shows zero but the available credit wasn't showing the $11.99 being available. I called and spoke to a "Peggy" representitive who kept giving me generic answers. At one point I told her that I didn't want scripted answers that might sound good. I want to know why my payments are being held. She said it's not them, it's my bank and the clearing house that the money passes though. I call BS. My payments always go through with no problems and are fully available the next day. Never had this or any other problem over the years that I've been with them. Payments can range from $10 to thousands of dollars each month. I think I'm going to be calling them to ask for an American representitive then see what they say.

Re: Funds on hold after payment is made

Anonymous — Thu, 15 Sep 2016 12:25:39 GMT

This is not uncommon for Capital One. They are super shady. I had a Venutre card a while ago (closed in 2013). I was moving from the US to Asia for work and put my moving company charges on the card (almost $5k - so near the limit of the card). I paid off the chrage a few days later. At least a good week later or more I was checking into the hotel and had to prepare for three weeks, again a few thousand dollars. Capital One declined the charge and I had to use another card. They still had my payment on hold! I was furious. When I called they stated that due to the size of the payment and my "account history" with them they held the payment. Total bs - never late, no return payments, barely used the card, and great credit profile/income.

I closed the account and don't think that I'll ever have another Cap One product in my wallet. Some banks pull some shady stuff, but holding my money for more without notice is unacceptable.

Re: Funds on hold after payment is made

Anonymous — Fri, 16 Sep 2016 00:55:21 GMT

Chase and Synchrony do the same thing.

Re: Funds on hold after payment is made

Anonymous — Fri, 16 Sep 2016 02:52:59 GMT

I had this happen to me at the beginning of July. I paid just a bit over 10k to PIF both my cards and it was on hold for 4 days because it was "outside my normal payment pattern." I made the payments on a Friday and they cleared my bank (Chase) Saturday morning. I called the number on my card and talked to the rep and told her I'd like to make a large purchase that day (of course, I didn't). I told her the payments had both already cleared my bank and she release both holds immediately. Give it a try, I suppose who you get on the phone and how you talk to them is what makes the difference.

Re: Funds on hold after payment is made

masscredit — Fri, 16 Sep 2016 15:12:20 GMT

I called yesterday and got to talk to an American representitive. I beleive she ws a senior specialist instead of a regular representive. She throughly reviewed all of my accounts and as mentioned, said that the system will sometimes put a hold on funds if something happens that is outside of normal usage. The is done to protect the consumer. While I can appreciate this I think it should apply to charges over payments. My $11.99 payment had a 4 day hold.

Re: Funds on hold after payment is made

NRB525 — Fri, 16 Sep 2016 15:47:03 GMT

$12 ?

reminds me of the persistent paper boy in the movie "Better Off Dead" : "I WANT MY TWO DOLLARS!"

A couple more days, after the funds clear, no issue. Please report back with results.

Re: Funds on hold after payment is made

masscredit — Fri, 16 Sep 2016 16:07:53 GMT

Twelve dollars... I want my twelve dollars!!! Just checked and saw that they have released the money. Even the person that I talked to yesterday was surprised that it was on hold.

Re: Funds on hold after payment is made

NRB525 — Fri, 16 Sep 2016 18:34:38 GMT

On Cap One limits totaling $50k.

Glad to hear it worked out for you.

Re: Funds on hold after payment is made

joltdude — Sat, 17 Sep 2016 01:14:26 GMT

My question is why not combine some of the limits on your multiple Cap One cards? Ditch the Merrick Bank.... Possibly PC/Merge your Barclaycards and simplify your portfolio of cards?

Re: Funds on hold after payment is made

UncleB — Sat, 17 Sep 2016 06:36:44 GMT

I'm glad to hear this has all worked out.

Back when my QS MasterCard was still HSBC/Orchard I routinely got payment holds when I would make my payment through the website, and they could be lengthy, too - I think the longest was 10 days.

Once I started making my payments through my own bank's bill pay (ACH push) I never had another problem with a payment hold with them (or any other lender, for that matter).

Since then, I've continued to push all of my payments (with the exception of Amex - I use their website to pay because they always give instant credit anyway). I do have my checking account information 'on file' with most of my lenders anyway, for those times when I need to run things a bit closer to the due date than I prefer (in these occasional instances I'm not concerned with a hold anyway).

Re: Funds on hold after payment is made

masscredit — Mon, 03 Oct 2016 22:08:13 GMT

@joltdude wrote:
My question is why not combine some of the limits on your multiple Cap One cards? Ditch the Merrick Bank.... Possibly PC/Merge your Barclaycards and simplify your portfolio of cards?

I've been trying to combine Cap 1 cards for about a year. It never works for me. Merrick is the odd duck in my portfolio. I use it once in awhile to keep it active. It's usually hidden in my car in come of emergency. Like if I leave home without my wallet (I learned after doing that last year). Each of my Barclay cards has a purpose. The Rewards card gives me the best cash back and the Apple card provides me with discounts on their products.

Three of my Cap 1 cards has balances so I paid all of them off last Friday. All of the payments posted but one of the cards has the funds on hold again. A whole $30.00! I've never used my bank's bill pay but I think I'l going to try that next month to see what happens.

Re: Funds on hold after payment is made

Anonymous — Tue, 04 Oct 2016 04:54:25 GMT

It's so silly that they keep holding your funds, particularly for very low dollar amounts. I first started reading the thread I was thinking well, there were three fair sized payments made on the same day so perhaps Cap One had some kind of internal payment limit across accounts based on regular habits of a customer which seems to fall into alignment with what the reps were saying, but to hold a $12 payment and later a $30 payment, that seems weird to me.

I'd definitely try pushing the payments from your bank and see if that fixes the problem. And I'll keep my fingers crossed that they don't decide to do that to me.

Re: Funds on hold after payment is made

Anonymous — Tue, 04 Oct 2016 11:14:52 GMT

@masscredit wrote:
@joltdude wrote:
My question is why not combine some of the limits on your multiple Cap One cards? Ditch the Merrick Bank.... Possibly PC/Merge your Barclaycards and simplify your portfolio of cards?
I've been trying to combine Cap 1 cards for about a year. It never works for me. Merrick is the odd duck in my portfolio. I use it once in awhile to keep it active. It's usually hidden in my car in come of emergency. Like if I leave home without my wallet (I learned after doing that last year). Each of my Barclay cards has a purpose. The Rewards card gives me the best cash back and the Apple card provides me with discounts on their products.

Three of my Cap 1 cards has balances so I paid all of them off last Friday. All of the payments posted but one of the cards has the funds on hold again. A whole $30.00! I've never used my bank's bill pay but I think I'l going to try that next month to see what happens.

It happened to me when I did a large payment (a few thousand) on DH's new Venture VS. It was a first for me. I agree with others push the payments through your bank's bill pay service. I hope this resolves the problem for you. Good luck!

Re: Funds on hold after payment is made

Anonymous — Tue, 04 Oct 2016 17:19:55 GMT

I have never had this problem with Capital One, while my wife has.

I make payemtns ranging from 10-25k a month on my Venture Card everyt two weeks. They each post the same day, credit avialable the same day. My wife however, makes spuratic payments of diffrent amounts every few days. I find that this "triggers" something in thier system which places funds on hold. Never got a clear answer why, as she has never had a returned payment. I think they "hold" the funds because it costs them a % each payment and they are trying to get people away from paying every few days. However, that is just my .02