topic Re: Capital One Is A Magnet in Credit Cards

Capital One Is A Magnet

CreditMagic7 — Sat, 07 May 2022 22:22:59 GMT

I seen payments post next day before but definitely not that often. Point of this topic is just which issuers seem to have the quickest payment receivables when you PUSH yours. I always do so can't vouch for those one's that rely soley on autopay. I simply never bothered and don't use it in spite of the fact it's common.

So using my personal Bank's Bill Pay service to PUSH through card payments-loans etc with card's it specifically states "within 2 business days" and it regularly does meet that timetable on my end.

I especially mention Capital One in this topic article because sent a PIF to them only yesterday and as you all know most banks consider a business week 5 days/nights Full Stop. But today being a weekend normally payments i PUSH on a friday arrives not monday but by Tuesday which is normal for me over the years.

Is Capital One that Zelle-like and can pick up electronically when an electronic payment is officially en route?

(in this case Bill Pay from External Institution)

No complaints mind you about it whatsoever but Wow the fact that when i checked in to the online Capital One site TODAY less than 24 hours it's showing ......Pending payment is already in process.

That or my sending Bank is really added some lightning to their Bill Pay Service. Which could it be?

Nothing like NEXT DAY bill payments.

Re: Capital One Is A Magnet

OmarGB9 — Sun, 08 May 2022 02:22:53 GMT

Not sure about push payments, as I rarely use those. But I do know Amex is quick to take their money the next business day after I schedule a pull payment through their app/site.

Re: Capital One Is A Magnet

CreditMagic7 — Sun, 08 May 2022 02:27:24 GMT

@OmarGB9 wrote:
Not sure about push payments, as I rarely use those. But I do know Amex is quick to take their money the next business day after I schedule a pull payment through their app/site.

Yeah it was the surprise of it actually already showing up lickity split that grabbed attention.

I normally just expect & wait the period of 4 days when electronically doing a PUSH near the weekend. No rush whatsoever but sure has my curiosity on what brought that about as soon as it did.

Re: Capital One Is A Magnet

Yasselife — Sun, 08 May 2022 03:10:00 GMT

@OmarGB9

Amex withdraws the same day for me, few hrs after I make a payment.

Re: Capital One Is A Magnet

CreditMagic7 — Sun, 08 May 2022 04:06:11 GMT

@Yasselife wrote:
@OmarGB9
Amex withdraws the same day for me, few hrs after I make a payment.

That's good to learn of with Amex.

Now a little update on this. Maybe i have Capital One taking the limelight here. Bare in mind this is PUSH payment related only-scheduled OR manually. The same day (Yesterday-Friday), i also submmited a payment toward Synchrony Bank and now (A Weekend) it also is confirmed received on it's balance too. So looks to me that my own Sending institution is dispensing within hours compared to days when coming up on a weekend. For Example these payments list to be received by MAY 10.

That said, Capital One has always for me been the first to transfer that data to customers online accounts as .....Pending Payment process.

Re: Capital One Is A Magnet

babygirl1256 — Sun, 08 May 2022 04:11:16 GMT

I agree, Amex is super fast in posting payments and releasing the funds to the available categogy . . . In fact, I like the fast processing!!!

Re: Capital One Is A Magnet

ChargedUp — Sun, 08 May 2022 06:30:35 GMT

Amex, Chase, Cap One and Elan typically pull their money next biz day from my CU checking. Everyone else seems to take at least one more day IIRC.

Re: Capital One Is A Magnet

CreditMagic7 — Sun, 08 May 2022 06:41:15 GMT

@ChargedUp wrote:
Amex, Chase, Cap One and Elan typically pull their money next biz day from my CU checking. Everyone else seems to take at least one more day IIRC.

Worth keeping in mind for those of us that might go with PULL. Whoo Wheee! Capital One now is already cleaned the balance board- This amazes me being squarely in a weekend timeframe.

Re: Capital One Is A Magnet

redpat — Sun, 08 May 2022 12:18:35 GMT

Citi and Amex do the same once payment is submitted.

Re: Capital One Is A Magnet

SoCalGardener — Sun, 08 May 2022 21:05:55 GMT

I've noted several times that most of my cards acknowledge a payment the same day BofA makes it. By 'acknowledge' I mean they alert me that they have received my payment of $X, and it will be posted within [usually] 24-48 hours. Amex, BofA, Discover, Citi, and Cap1 all do that.

Even so, I never gamble on such quick receipt! I schedule my payments well in advance of their due dates, just in case anything happens along the way, so there will still be time to fix it before it's late.

Re: Capital One Is A Magnet

Kforce — Mon, 09 May 2022 01:34:48 GMT

@CreditMagic7 wrote:
I seen payments post next day before but definitely not that often. Point of this topic is just which issuers seem to have the quickest payment receivables when you PUSH yours.

I push all my credit card payments & move funds between different CU's every month.

My CU billpay has all my CC's linked (Electronic/ ACH)

They transfer the evening that I make a payment, as long as I make it before 3:00pm PST.

(Exception is Friday & Saturday which post Monday) Sunday sending will post Monday.

Five of my seven cards get the funds and credit the next day.

The other two get the funds but don't post for an extra day (2 days).

ACH transfers between institutions (Checking, Savings, Money Market, Etc).

Same time frame for sending however each receiving institution has different hold times for having full access to the funds and different time to show that it arrived. One old CU the funds disappear for a full 3-4 days, others it shows up next day. My conclusion is that it is the receiving institution that sets any delay in showing or posting.

Next Day CC payments: Discover, FNBO, AOD, BofW

2-Day payments: Wescom, USAlliance, Barclays

4-Day : First City CU

Next Day ACH Transfers: AOD, Barclays, Western State, Logix, CapOne 360

2-Day: USAlliant, Marcus

4-Day : First City CU

Re: Capital One Is A Magnet

CreditMagic7 — Mon, 09 May 2022 03:18:43 GMT

@Kforce wrote:
@CreditMagic7 wrote:
I seen payments post next day before but definitely not that often. Point of this topic is just which issuers seem to have the quickest payment receivables when you PUSH yours.
I push all my credit card payments & move funds between different CU's every month.

My CU billpay has all my CC's linked (Electronic/ ACH)
They transfer the evening that I make a payment, as long as I make it before 3:00pm PST.
(Exception is Friday & Saturday which post Monday) Sunday sending will post Monday.
Five of my seven cards get the funds and credit the next day.
The other two get the funds but don't post for an extra day (2 days).

ACH transfers between institutions (Checking, Savings, Money Market, Etc).
Same time frame for sending however each receiving institution has different hold times for having full access to the funds and different time to show that it arrived. One old CU the funds disappear for a full 3-4 days, others it shows up next day. My conclusion is that it is the receiving institution that sets any delay in showing or posting.

Next Day CC payments: Discover, FNBO, AOD, BofW
2-Day payments: Wescom, USAlliance, Barclays
4-Day : First City CU

Next Day ACH Transfers: AOD, Barclays, Western State, Logix, CapOne 360
2-Day: USAlliant, Marcus
4-Day : First City CU

Call me supersticious but i have and always will continue to PUSH my payments since with this method over 12 years has been 100% flawless and leaves absolutely no doubt that a lenders auto pull pay might glitch and miss which i seen happen numerous times on others.

Re: Capital One Is A Magnet

everest — Mon, 09 May 2022 12:03:45 GMT

I'll add another DP on pull payments here just in case someone comes looking, but my Apple Card usually posts payments instantly, reflecting the payment to both balance and available credit immediately, and the funds are out of my BofA checking the next morning around 5AM if the payment is before 5PM-ish. Definitely agree with pushing seeming more reliable than the CC pulling from <insert financial institution here>, but I don't really have personal experience to back-up the same.

Haven't tried pushing payments with BofA yet, but both BofA and Fidelity did recognize the card number as GS Apple Card, so maybe it's worth trying a smaller payment first?

Re: Capital One Is A Magnet

CreditMagic7 — Mon, 09 May 2022 12:57:36 GMT

@everest wrote:
I'll add another DP on pull payments here just in case someone comes looking, but my Apple Card usually posts payments instantly, reflecting the payment to both balance and available credit immediately, and the funds are out of my BofA checking the next morning around 5AM if the payment is before 5PM-ish. Definitely agree with pushing seeming more reliable than the CC pulling from <insert financial institution here>, but I don't really have personal experience to back-up the same.

Haven't tried pushing payments with BofA yet, but both BofA and Fidelity did recognize the card number as GS Apple Card, so maybe it's worth trying a smaller payment first?

Bank payment tech so far as PULL/Autopay has improved i would say. Some years ago members posted where glitches arose and caused quite a stir. So many in fact that's when i followed another members advice to turn to PUSH method. Since the receiving end would not have standing or excuse to contest that the sending bank didnt forward a payment. That is so long as the same (and the customer) recorded that funds were immediately drawed and designated IN ADVANCE with a time and date. Same with me, whether manually or automatic and as a safeguard i also make screenshots which assign a customer's PUSH funds with a special confirmation number. Just to keep on the up and up.