topic Paypal Mastercard Synchrony - Delayed Payment Balance in Credit Cards

Paypal Mastercard Synchrony - Delayed Payment Balance

C_DUBYA — Tue, 07 Feb 2023 14:35:24 GMT

I have a PayPal Mastercard. $900 limit. During Christmas I used the card and spent $893 on it. In January I paid the balance in full. As of today my balance shows $0 as it should, but my available balance is still $7.

So I called in to ask when the available balance will update since the balance is zero. The woman told me it would be available on February 18th. This is about 21 days after the initial payment. I asked why and she said it was normal process. Huh?

My bank already shows the money long gone, and PayPal properly shows it as "completed".

Anyone else have this? Is it because I paid the entire thing off? I don't need the card to use right now, but I am more concerned that it could report something wrong to my credit. (Like available being $7 vs $900 hurting my util)

What a horrible incentive to pay off a card....

Re: Paypal Mastercard Synchrony - Delayed Payment Balance

GZG — Tue, 07 Feb 2023 15:38:23 GMT

@C_DUBYA wrote:
I have a PayPal Mastercard. $900 limit. During Christmas I used the card and spent $893 on it. In January I paid the balance in full. As of today my balance shows $0 as it should, but my available balance is still $7.

So I called in to ask when the available balance will update since the balance is zero. The woman told me it would be available on February 18th. This is about 21 days after the initial payment. I asked why and she said it was normal process. Huh?

My bank already shows the money long gone, and PayPal properly shows it as "completed".

Anyone else have this? Is it because I paid the entire thing off? I don't need the card to use right now, but I am more concerned that it could report something wrong to my credit. (Like available being $7 vs $900 hurting my util)

What a horrible incentive to pay off a card....

They should be reporting the correct balance as the balance on your end shows as $0

but as for your available credit, they don't trust your payment/spending pattern/credit profile/you/[insert reason the AI got spooked here] so they want extra time to ensure it's legitimate.

did you pay through a bank account connected to paypal or did you push a payment from somewhere else?

Perhaps you can call Synch and ask them to have a 3 person call with the bank to confirm the funds are legitimate and released, but you're probably going to have to wait this one out. It shouldn't impact reporting, and they should be reporting $0 balance

Once (after 21 days) they confirm your funds and you are legit your available balance will return and it probably won't happen again unless you spook them again

Re: Paypal Mastercard Synchrony - Delayed Payment Balance

Brian_Earl_Spilner — Tue, 07 Feb 2023 16:00:35 GMT

This is standard practice for a lender if there are fraud concerns or they want to make sure a large payment clears. For example, cap1 could hold a payment for up to 14 days if you make more than 1 in a month or it's large enough.

Banks do it all the time when you deposit a large check. Release a little bit, hold the rest until cleared.

Re: Paypal Mastercard Synchrony - Delayed Payment Balance

C_DUBYA — Tue, 07 Feb 2023 16:13:29 GMT

Ok thanks. 21 days feels excessive but it is what it is.

Re: Paypal Mastercard Synchrony - Delayed Payment Balance

DONZI — Tue, 07 Feb 2023 16:48:09 GMT

I agree, 21 days seems really long before settling the payment. I'd be inclined to postal mail them an amex traveler's check next month.

Re: Paypal Mastercard Synchrony - Delayed Payment Balance

Shooting-For-800 — Wed, 08 Feb 2023 02:50:52 GMT

I think it's always best to pay in chunks when you are out of your normal paying/charging patterns.

Just like a bank holding your deposit for a week it is much larger than your normal balance.

GL!

Re: Paypal Mastercard Synchrony - Delayed Payment Balance

Tcal — Thu, 09 Feb 2023 21:16:52 GMT

I just realized I had the same thing happen to me. New to the card, so that could be why. But I noticed that there was a discrepancy between my available credit and my balance. Called them up and they confirmed its on a hold. Only $380 too.

Re: Paypal Mastercard Synchrony - Delayed Payment Balance

DONZI — Sun, 12 Feb 2023 13:29:54 GMT

@Tcal how long has the payment been on a holding pattern?

AFAIK amex is the only vendor that credits payment against the balance immediately, while the payment clears in the couple/few days.

I've noticed a couple (IIRC NFCU and Synovus) sometimes will lack a pending charge or payment which makes for a visual discrepancy among the figures.. but it's only a short time, like less than a day maybe.

If your hold time ends up the typical 1-2 biz days (instead of ~21 like the OP) maybe you're seeing a similar anomaly like I see with NFCU and Synovus from time to time?

Re: Paypal Mastercard Synchrony - Delayed Payment Balance

Shooting-For-800 — Tue, 14 Feb 2023 02:30:10 GMT

Cap One credits me immediately.

Re: Paypal Mastercard Synchrony - Delayed Payment Balance

Benzman — Tue, 14 Feb 2023 04:29:31 GMT

@Shooting-For-800 wrote:
Cap One credits me immediately.

Yep, same for me.

Re: Paypal Mastercard Synchrony - Delayed Payment Balance

CCrew — Tue, 14 Feb 2023 12:42:55 GMT

@DONZI wrote:
@Tcal how long has the payment been on a holding pattern?

AFAIK amex is the only vendor that credits payment against the balance immediately, while the payment clears in the couple/few days.

Both my Apple Card and my GM card do. Obviously both are Goldman, so they seem to process equally.

Re: Paypal Mastercard Synchrony - Delayed Payment Balance

C_DUBYA — Wed, 15 Feb 2023 21:33:46 GMT

The differences are all over the place. I paid off several cards recently. Here was the result.

MGM-FNBO: Immediate availability (1k card)

Paypal: Hold 21 days (1k card)

Today card: Hold 7 days (2k card)

Verizon Syfi: Immediate availability (2.5k card)

Capitalone: Immediate availability (500 card)

Re: Paypal Mastercard Synchrony - Delayed Payment Balance

Tcal — Wed, 15 Feb 2023 21:53:32 GMT

Sorry for the late reply; It took about 17 days for it to finally free up.

Re: Paypal Mastercard Synchrony - Delayed Payment Balance

DONZI — Fri, 17 Feb 2023 15:28:16 GMT

I wonder if the paypal relationship adds to the duration?

Re: Paypal Mastercard Synchrony - Delayed Payment Balance

Brian_Earl_Spilner — Fri, 17 Feb 2023 15:42:09 GMT

@DONZI wrote:
I wonder if the paypal relationship adds to the duration?

Why would it? My PayPal card credits me the next day. Payment posts in 1-2 days after made. They always make my credit available before payment posts. When I first opened it larger payments were held. Same with cap1, same with discover, same with many other cards.

Re: Paypal Mastercard Synchrony - Delayed Payment Balance

DONZI — Fri, 17 Feb 2023 22:39:00 GMT

Beats me. I've only used them with bank accounts, debit cards and some unrelated credit cards. I suppose there is no reason it'd be any different than any of those or PP Credit.

I've never had payment drag for 2 or 3 weeks for any payments or xfers, anywhere when initiated online or by phone. Most has been about a week for very large amounts that I guess trigger AML scrutiny.