topic Cap 1 QS1 Credit Builder weird, no available credit. in Credit Cards

Cap 1 QS1 Credit Builder weird, no available credit.

Anonymous — Wed, 07 Jun 2017 14:00:30 GMT

Unfortunately I only have a 300 limit on my QS1. I want to utilize the rewards, so this month I ran over $800 through the card. Paying it off several times so I could use it again. Last payment was on Saturday 6/3. paid in full. The payment shows posted. The money was taken out of my bank, but my available credit has not gone up. I have $16.00 available credit. I chatted online yesterday, and they said it should update by today. Today, still no go.

Credit scores have improved since getting the card. I am currently at 655 EX, 753 TU, and 678 EQ.

Maybe I used it too much, and scared them off. Didn't think it would matter since I paid it off frequently. What is up with that? Think they are going to close the account?

Re: Cap 1 QS1 Credit Builder weird, no available credit.

bizarrocreditworld — Wed, 07 Jun 2017 14:40:49 GMT

It may have to do with the billing cycle. For me, the billing cycle ends on the 3rd of each month and the statement cuts on the 6th. This month, I had to wait an extra day for the statement to cut.

Hopefully that is the case with you.

Re: Cap 1 QS1 Credit Builder weird, no available credit.

Anonymous — Wed, 07 Jun 2017 15:03:18 GMT

That happened to me maybe 4/5 times. You need to call in and have them call up your bank on the phone to confirm the funds are available in your account. Super annoying, I now only push payments from my bank to the card.

According to the representative, they do this when you make large payments or larger than you ever have made to your card and there is no way to avoid it.

Re: Cap 1 QS1 Credit Builder weird, no available credit.

Anonymous — Wed, 07 Jun 2017 15:13:49 GMT

Thank you. This is kind of what the chat rep told me yesterday, but he said they should raise my available credit by today. Funds were taken from my bank account already. So annoying. I will wait until tomorrow and call if they do not up my available credit.

Re: Cap 1 QS1 Credit Builder weird, no available credit.

Anonymous — Wed, 07 Jun 2017 15:15:28 GMT

My payment isn't due until 6/11. Statement cuts on the 14th. So this isn't the case. Just waiting for the payment to process. Why it is taking so long is the question I guess. Annoying, but oh well. Hopefully it means they will increase my CL soon, so I don't have to make 4-5 payments in one month.

Re: Cap 1 QS1 Credit Builder weird, no available credit.

Anonymous — Wed, 07 Jun 2017 15:31:42 GMT

Definitely start PUSHING payments from your bank rather than PULLING payments form Capital One's site.

Re: Cap 1 QS1 Credit Builder weird, no available credit.

UncleB — Wed, 07 Jun 2017 16:33:50 GMT

@Anonymous wrote:
Definitely start PUSHING payments from your bank rather than PULLING payments form Capital One's site.

+1 Definitely this ^^^^.

The only time I've ever had this problem was years ago when I was also making multiple large (relative to my CL) payments in the same month through the credit card's website. Once I started pushing payments using my checking account's bill pay I never had the problem again.

If you make multiple 'pull' payments in a single payment period they tend to place holds as a security measure. It's really easy to reverse an ACH pull payment, and you can imagine how this could be abused (someone makes multiple payments in a month, keeps using the card, then reverses all the payments leaving a balance much higher than the actual credit line).

Re: Cap 1 QS1 Credit Builder weird, no available credit.

Anonymous — Wed, 07 Jun 2017 21:15:38 GMT

Thanks for the advice. I will do this from now on.