topic Re: Penfed - How Long Until Available Credit is Updated? in Credit Cards

Penfed - How Long Until Available Credit is Updated?

heirophant — Thu, 11 Mar 2021 04:13:39 GMT

Just got this card in January and made my first payment. My payment posted on their site on the 3rd. Was $1300. My available credit has not updated. How long does it take for them to update available credit? Never seen it take this long with any other creditor sans Credit One.

Re: Penfed - How Long Until Available Credit is Updated?

Bradac56 — Thu, 11 Mar 2021 04:23:08 GMT

Usually a couple of business days at the least they are glacial at times. If it goes to Friday I'd give them a call.

Re: Penfed - How Long Until Available Credit is Updated?

Anonymous — Thu, 11 Mar 2021 05:43:07 GMT

My PenFed credit card was slow to update available credit after making payments as well. I believe this will fix itself after 90 days.

Re: Penfed - How Long Until Available Credit is Updated?

heirophant — Thu, 11 Mar 2021 10:00:59 GMT

@Anonymous wrote:
My PenFed credit card was slow to update available credit after making payments as well. I believe this will fix itself after 90 days.

Interesting. I wonder why that is?

Re: Penfed - How Long Until Available Credit is Updated?

CreditCuriosity — Thu, 11 Mar 2021 13:59:33 GMT

Immediate for me.. PenFed usually have actually if I recall a 6 month could be 3, but 6 sounds right probabation period where payments, etc take longer after that they are instant also pulling money into say a checking is instant as well at least for me

Re: Penfed - How Long Until Available Credit is Updated?

Horseshoez — Thu, 11 Mar 2021 14:09:31 GMT

@CreditCuriosity wrote:
Immediate for me.. PenFed usually have actually if I recall a 6 month could be 3, but 6 sounds right probabation period where payments, etc take longer after that they are instant also pulling money into say a checking is instant as well at least for me

I believe the same thing applies to transfers of money from external accounts into PenFed accounts; typically I see the "Current Balance" get updated the next day, however, there is typically a delta of three to five days between when my bank says money has been sent and when it shows up as an "Available Balance".

The above said, I am still within 6-months of becoming a PenFed member.

Re: Penfed - How Long Until Available Credit is Updated?

mystikal1 — Thu, 11 Mar 2021 16:10:08 GMT

It is usually 5 business days until account has been opened for 90 days.

Re: Penfed - How Long Until Available Credit is Updated?

cashorcharge — Thu, 11 Mar 2021 19:30:05 GMT

@CreditCuriosity wrote:
Immediate for me.. PenFed usually have actually if I recall a 6 month could be 3, but 6 sounds right probabation period where payments, etc take longer after that they are instant also pulling money into say a checking is instant as well at least for me

It's 3 months...at least it was for me. In the first 3 months, my "available credit" took 7 days to update...even if made the payment from my own account with them....inside their FI or outside...it took 7 days for available credit to update though the payment was credit the day it was posted. I was curious a while back and was explained this by their CSR