topic Re: Capital One Slow to Update Available Funds in Credit Cards

Capital One Slow to Update Available Funds

Anonymous — Sun, 12 Dec 2021 02:52:17 GMT

I've had the Capital One Walmart MC since 2019, and payments and available credit have always posted rather quickly to our account.

Welp, paid the balance in full in the amount of $535.61 on Dec. 6th, and the available credit still has not updated as it shows $14.39.

Reached out to Capital One via phone and from what I could discern from the phone rep, sometimes Capital One will hold funds longer to verify funds? Didn't quite understand what he was saying.

Especially since the Capital One payment portal shows the payment posted to my account on 12/6 along with the confirmation code as well as the funds have been withdrawn from my Navy checking account.

The only thing that was different with this payment is that I normally pay it from a different account.

Frustrating nonetheless.

Re: Capital One Slow to Update Available Funds

SUPERSQUID — Sun, 12 Dec 2021 03:12:56 GMT

@Anonymous wrote:
I've had the Capital One Walmart MC since 2019, and payments and available credit have always posted rather quickly to our account.
Welp, paid the balance in full in the amount of $535.61 on Dec. 6th, and the available credit still has not updated as it shows $14.39.

Reached out to Capital One via phone and from what I could discern from the phone rep, sometimes Capital One will hold funds longer to verify funds? Didn't quite understand what he was saying.
Especially since the Capital One payment portal shows the payment posted to my account on 12/6 along with the confirmation code as well as the funds have been withdrawn from my Navy checking account.
The only thing that was different with this payment is that I normally pay it from a different account.
Frustrating nonetheless.

I had something similar happen to me with my last payment on cap 1 QS and Target Red Card.

Usually cap one registers in my available credit by the next day but the last payment i made took a couple of days.

A similar thing with my last target red card payment, it didnt appear in my available credit for a few days however they took the money from my checking the day after i made payment.

maybe its just slow because of the holidays?

Re: Capital One Slow to Update Available Funds

collics — Sun, 12 Dec 2021 03:16:54 GMT

Do you pay from a capital one checking?

edit: nvmd I see u pay from navy

Re: Capital One Slow to Update Available Funds

Brian_Earl_Spilner — Sun, 12 Dec 2021 04:05:08 GMT

Yes, it happens occasionally. Typically when you use a different account or make a large payment. They won't release the credit until they can confirm the payment has cleared, usually 10-14 days.

Re: Capital One Slow to Update Available Funds

Anonymous — Sun, 12 Dec 2021 07:10:09 GMT

Sheesh. Thanks @Brian_Earl_Spilner . In this case, I was 2 for 2--different account and large payment. Good to know going forward.

Since we haven't used this card any for holiday shopping, considering sock drawing it. Meh.

Re: Capital One Slow to Update Available Funds

SUPERSQUID — Sun, 12 Dec 2021 08:52:17 GMT

@collics wrote:
Do you pay from a capital one checking?

edit: nvmd I see u pay from navy

No i dont pay from cap 1 or NAVY, I pay from my local bank.
There is only 1 Navy branch in my state and its on a restricted military base, you have to be active military to get in,.
Cap 1 has no branches in my area.
I have an account in a bank near me because sometimes you need a brick and mortar

Re: Capital One Slow to Update Available Funds

SUPERSQUID — Sun, 12 Dec 2021 08:55:01 GMT

@Brian_Earl_Spilner wrote:
Yes, it happens occasionally. Typically when you use a different account or make a large payment. They won't release the credit until they can confirm the payment has cleared, usually 10-14 days.

Now it makes sense, my cap 1 payment was above 500 but i usally keep my balance at zero so it really didnt bother me

Re: Capital One Slow to Update Available Funds

Anonymous — Sun, 12 Dec 2021 10:11:11 GMT

I made a $12,131.00 payment on 12/8/2021 to my Capital One QS account. The available credit was back on the 9th (the next day) back to my $30,000 CL. No additional payment hold. Payment was made from my Wells Fargo checking account. However, this is a very old account, 14 years old and all of my Capital One cards have a CL of $10,000 to $30,000. I have not had nor asked for a CLI in the last few years.

Thanks

Mark

Re: Capital One Slow to Update Available Funds

Anonymous — Sun, 12 Dec 2021 10:21:51 GMT

In addition. When I make a Capital One payment it adjusts my available credit to include the payment I just made instantly. It posts over night but as soon as I make the payment the available credit adjusts. I have this on all of my Capital One cards.

However, it is nothing special, Citi Bank, Wells Fargo and many others do the same thing. Instant increase of available credit.

Thanks

Mark

Re: Capital One Slow to Update Available Funds

SUPERSQUID — Sun, 12 Dec 2021 12:15:15 GMT

Yes Mark, my payments arent as large as yours but usually make available funds by the next day. Once cap 1 even gave me instant credit for my payment, after i hit pay i saw my available credit go up dollar by dollar like a tickertape.

Usually target is the same pay today and its available tommorow.

but they were both slow this time.

Re: Capital One Slow to Update Available Funds

tcbofade — Sun, 12 Dec 2021 13:14:03 GMT

...and I'm somewhere in between.

Just paid the statement balance on one of DW's Capital One cards this morning.

The payment shows as pending, the balance has NOT adjusted, but the available credit HAS.

I expect the balance to update on Monday or Tuesday...

Re: Capital One Slow to Update Available Funds

Mr_Mojo_Risin — Sun, 12 Dec 2021 15:56:36 GMT

@SUPERSQUID wrote:
Yes Mark, my payments arent as large as yours but usually make available funds by the next day. Once cap 1 even gave me instant credit for my payment, after i hit pay i saw my available credit go up dollar by dollar like a tickertape.
Usually target is the same pay today and its available tommorow.
but they were both slow this time.

My Quicksilver has always updated the available credit immediately how you described.

I've always used the same external bank account to pay, but if I switched payment accounts I would probably have a hold like a few others mentioned.

Re: Capital One Slow to Update Available Funds

Brian_Earl_Spilner — Sun, 12 Dec 2021 16:26:07 GMT

@Anonymous wrote:
I made a $12,131.00 payment on 12/8/2021 to my Capital One QS account. The available credit was back on the 9th (the next day) back to my $30,000 CL. No additional payment hold. Payment was made from my Wells Fargo checking account. However, this is a very old account, 14 years old and all of my Capital One cards have a CL of $10,000 to $30,000. I have not had nor asked for a CLI in the last few years.
Thanks
Mark

And the context? Do you normally make large payments like that to them? If so, it wouldn't be subjected to a hold.

Re: Capital One Slow to Update Available Funds

Anonymous — Sun, 12 Dec 2021 17:07:29 GMT

@Brian_Earl_Spilner wrote:
@Anonymous wrote:
I made a $12,131.00 payment on 12/8/2021 to my Capital One QS account. The available credit was back on the 9th (the next day) back to my $30,000 CL. No additional payment hold. Payment was made from my Wells Fargo checking account. However, this is a very old account, 14 years old and all of my Capital One cards have a CL of $10,000 to $30,000. I have not had nor asked for a CLI in the last few years.
Thanks
Mark
And the context? Do you normally make large payments like that to them? If so, it wouldn't be subjected to a hold.

Actually it was for a once a year payment to real estate taxes. The rest of the year it is about $2,000 per month. According to my CR's the most I ever had out to Capital One on this card was $21,300 that was about 2 years ago. Always PIF before statement cut off, I do let the $2,000 to report every now and then to show utilization on this card.

The only card that I have an issue with is HSBC. If I make more then two payments in a week, for the next three weeks available credit is held back for 14 days. It can be $10 or $10,000 it is an auto hold. I only pay that card now twice a month to avoid this.

Since I have quite a few cards it is never an issue for me. But I would be surprised if Capital One held back available credit. They never have. Actually no bank that I have CC's with ever held back for more then over night. With the exception of HSBC and Discover if you are going to make payments less then four days apart.

Thanks

Mark

Re: Capital One Slow to Update Available Funds

Anonymous — Sun, 12 Dec 2021 19:27:15 GMT

I've noticed that Amex will also do this periodically, I've just never concerned myself with the reason or investigated it. In the end it always works out and they're paid etc. In fact I've niticed it has happend with other FI's as well, some payments clear immedaitely and available credit is updated while others are pending.

I've noticed that with Chase I'll pay their CC via Chase checking and it doesn't post immediately, yet funds out transfer does. lol

Like I said i don't generally pay it any mind because things do get paid and updated.

Re: Capital One Slow to Update Available Funds

SoCalGardener — Mon, 13 Dec 2021 01:57:27 GMT

I pay all of my bills, including Cap1, using BofA's bill pay. Most of my CCs post/reflect the payment the same day BofA makes it--including Cap1. I've never had a delay on any of the three cards I have with them. I don't know if age is involved here at all (not *my* age, the age of my accounts), but my BofA account is 30+ years old, and two of my Cap1 accounts are ~10 years old. Perhaps in your case, there isn't sufficient age/experience? I don't know.

Re: Capital One Slow to Update Available Funds

Anonymous — Sun, 02 Jan 2022 04:37:19 GMT

I got an early bonus at work this year, so I decided to payoff my credit cards in full. Both CapOne and US Bank did put a hold on my payments. Both were made from the same bank and account were I usually send payments from, at least since 2019. Both were debited from my checking account a couple days after the payment was sent, and also got confirmation emails saying that the payment has posted.
The weird part is that the CL has not been updated and when called, both agents told me that the bank puts a hold as a precaution for unusual payments for up to 10 business days.

What surprises me the most is that the bank has received the funds (that happens instantly) there is no risk for insufficient funds, if there was some red flag about the transaction it would have been raised by the 2 day. What is the reason for this?

Re: Capital One Slow to Update Available Funds

Skye12329 — Sun, 02 Jan 2022 02:29:35 GMT

I am having this exact same issue now. I pushed payments from my banks bill pay. The quicksilver updates instantly for it's available credit.

My savor one - funds cleared but available credit has not updated. Tried the Eno chat bot and it says to call customer service to inquire about updating available credit. Called cust service and was advised available credit won't be updated till 1/9 even though funds cleared. They said it's internal hold on their end.

Re: Capital One Slow to Update Available Funds

Goos — Sun, 02 Jan 2022 13:52:34 GMT

@Anonymous wrote:
I've had the Capital One Walmart MC since 2019, and payments and available credit have always posted rather quickly to our account.
Welp, paid the balance in full in the amount of $535.61 on Dec. 6th, and the available credit still has not updated as it shows $14.39.

Reached out to Capital One via phone and from what I could discern from the phone rep, sometimes Capital One will hold funds longer to verify funds? Didn't quite understand what he was saying.
Especially since the Capital One payment portal shows the payment posted to my account on 12/6 along with the confirmation code as well as the funds have been withdrawn from my Navy checking account.
The only thing that was different with this payment is that I normally pay it from a different account.
Frustrating nonetheless.

I just paid mine off on 31st and it was 436 and it posted an hour later . I think they were having issues .

Re: Capital One Slow to Update Available Funds

7774x — Sun, 02 Jan 2022 18:34:56 GMT

@Anonymous wrote:
I've noticed that Amex will also do this periodically, I've just never concerned myself with the reason or investigated it. In the end it always works out and they're paid etc. In fact I've niticed it has happend with other FI's as well, some payments clear immedaitely and available credit is updated while others are pending.

I've noticed that with Chase I'll pay their CC via Chase checking and it doesn't post immediately, yet funds out transfer does. lol
Like I said i don't generally pay it any mind because things do get paid and updated.

With Chase.Ccs...using their checking account account.. can pay by midnight... have paid amount available next day