topic Re: The nerve of Cap One!!! in Credit Cards

The nerve of Cap One!!!

TeeandDee — Tue, 17 Apr 2012 12:31:38 GMT

I made a payment on my Capital One Rewards card Saturday for $388 before my statement cut today so it would report a zero balance. I checked online yesterday and my available balance did not change. No sweat, I thought I'd give it another day even though that has never happened before. I get up this morning and check, and its the same way. I checked the payment area, and my payment was credited so I was confused as to why it was not showing up in my "Available Credit" so I called in. Well, the customer service told me that because I made a large payment...$388?!...that my payment was on HOLD until the 20th. I said Oh yeah..ABSOLUTELY NOT! That payment has cleared my bank AND it shows as a credit on Capital One website, so I do not understand why I have to wait until the 20th to have it included in my available balance. Like I'm being punished for making a payment?!?! I always pay them on time and in full so I was not having that. It's odd!!! He immediately removed the hold and apologized and thanked me for always paying on time...huh?! This is how you treat customers that pay on time?!. I'm not feeling Cap One. Who does that to a customer that has NEVER made a late payment and has always paid in full?! I'm thinking of closing this card in six months and be done with them. I now have Discover, Chase and AMEX so who needs to go through this with Cap. One?!

Has anyone had this happen to them or have heard of this before??!

Re: The nerve of Cap One!!!

Anonymous — Tue, 17 Apr 2012 12:54:00 GMT

It's as if they know balances posting makes you less attractive to other lenders.

Re: The nerve of Cap One!!!

visorboy1974 — Tue, 17 Apr 2012 13:12:19 GMT

It's happened to me before with them...typically the first 6 months the account was open.

Re: The nerve of Cap One!!!

bettercreditguy1 — Tue, 17 Apr 2012 13:17:40 GMT

Yes, they are just playing it safe (or covering their aaaaaaaaaa's). Pen Fed does the same thing.

Re: The nerve of Cap One!!!

Anonymous — Tue, 17 Apr 2012 13:39:29 GMT

This has happened to me with Barclays before as well although iyt should report on your credit report payment was made there just not making the money available yet

Re: The nerve of Cap One!!!

boomhower — Tue, 17 Apr 2012 13:58:38 GMT

Chase does this crap all the time with me. They will either hold pending charges or payments so they can report a balance to the CRA's. It seems no matter what I do it won't report a $0 balance other than not use the card other than the first two weeks of the month.

Re: The nerve of Cap One!!!

RyVision — Tue, 17 Apr 2012 14:05:36 GMT

TeeandDee;

Cap 1 has done that to me before when paying them through their site. I paid around 700 or so (above the balance by a bit) so it'd show 0 and checked back and it hadn't credited in the time they state on their site. So I called, got a nice CSR and and she said it was because it was a large amount and was on a short hold, I explained I paid it through their website and it had cleared my bank a couple days prior; she replied that she could see the payment was made through their site and that she'd take care of it right away and was sorry for any inconvenience. I checked my account page a few minutes later and as she said, she had taken care of it and it showed I had a credit balance.

If you're uncertain about it showing a zero balance for your statement, I would just call and tell them you expect it to at least credit the account for statement purposes (effecting interest etc) since you can see it already cleared your bank, even if the funds aren't made immediately available for use.

Re: The nerve of Cap One!!!

TeeandDee — Tue, 17 Apr 2012 15:07:21 GMT

I've been with Cap One for more than a year and this has never happened before. I was shocked! I've always PIF and have never had a problem. This was the first time they pulled this! I was like oh no you don't! LOL! I checked back on the website and it has all been resolved. The hold is gone and my available balance is what it should be. I hope they don't start doing this often because if so, I will just close the account and move on....lol

Re: The nerve of Cap One!!!

jla84 — Tue, 17 Apr 2012 19:26:50 GMT

Yes, this happened to me around the 3rd month I had the "No Hassles" (Lol, seriously?!) card. I think maybe making a large payment makes them hold it for a while, but if you call they'll release the hold. It's dumb. I can't wait until I can close my account and not have to deal with them!

Re: The nerve of Cap One!!!

Lambo23 — Tue, 17 Apr 2012 20:01:53 GMT

This always happens to me too, but on my reports it says that I have no balance. They usually hold mine for a day though, but still report that I paid it.

Re: The nerve of Cap One!!!

Anonymous — Tue, 17 Apr 2012 20:03:46 GMT

@TeeandDee wrote:
I've been with Cap One for more than a year and this has never happened before. I was shocked! I've always PIF and have never had a problem. This was the first time they pulled this! I was like oh no you don't! LOL! I checked back on the website and it has all been resolved. The hold is gone and my available balance is what it should be. I hope they don't start doing this often because if so, I will just close the account and move on....lol

They said it was large payment which means your previous payments are usually smaller. If that is true, then the hold is common practice with many banks.

Re: The nerve of Cap One!!!

TeeandDee — Tue, 17 Apr 2012 20:15:02 GMT

@Anonymous wrote:
@TeeandDee wrote:
I've been with Cap One for more than a year and this has never happened before. I was shocked! I've always PIF and have never had a problem. This was the first time they pulled this! I was like oh no you don't! LOL! I checked back on the website and it has all been resolved. The hold is gone and my available balance is what it should be. I hope they don't start doing this often because if so, I will just close the account and move on....lol
They said it was large payment which means your previous payments are usually smaller. If that is true, then the hold is common practice with many banks.

No, that is not true. It was not my largest payment. Also, even if it were, if someone consistently pays in full for over a year, I still think it's ridiculous to not credit a payment that has cleared their bank. If the payment was not cleared, I could see holding off, but the payment cleared the bank...was credited to my account, but was made unavalable to me in my Available Balance. If that's common practice, it's not cool with me especially since it's never happened to me before. I could have been travelling or in some sort of emergency and needed to use my card!! As I've said, if it becomes a habit with them, I will close the account since in my opinion that's bad business and unreliable....just my opinion.

Re: The nerve of Cap One!!!

mindacid — Tue, 17 Apr 2012 20:18:49 GMT

Yep, that happened to me with the Best Buy Reward Zone MC. After the first and only time, I learned to break down my payments into $99 chunks. Until reading your post and some of the replies I thought it was a craptasticly unique feature of that particular card. It contributed towards my decision to close that account.

I wonder if any of the top tier cards have the same practice. Has anyone's large payment to a top tier card been subject to a hold like in this case? If it did, what was the size of the payment? In my case with BBRZ MC, the threshold seemed to be $100.

Re: The nerve of Cap One!!!

Anonymous — Tue, 17 Apr 2012 20:17:36 GMT

@mindacid wrote:

I wonder if any of the top tier cards have the same practice. Has anyone's large payment to a top tier card been subject to a hold like in this case?

Define... "large" and maybe I can give you an answer.

Re: The nerve of Cap One!!!

Anonymous — Tue, 17 Apr 2012 21:40:52 GMT

To quote a great sage of the 80s/90s "How Rude"!!!

Re: The nerve of Cap One!!!

mindacid — Tue, 17 Apr 2012 21:44:35 GMT

@Anonymous wrote:
@mindacid wrote:

I wonder if any of the top tier cards have the same practice. Has anyone's large payment to a top tier card been subject to a hold like in this case?

Define... "large" and maybe I can give you an answer.

Well, I don't know. Let's say over either $250 or $500.

Re: The nerve of Cap One!!!

Anonymous — Tue, 17 Apr 2012 22:18:29 GMT

@TeeandDee wrote:
@Anonymous wrote:
@TeeandDee wrote:
I've been with Cap One for more than a year and this has never happened before. I was shocked! I've always PIF and have never had a problem. This was the first time they pulled this! I was like oh no you don't! LOL! I checked back on the website and it has all been resolved. The hold is gone and my available balance is what it should be. I hope they don't start doing this often because if so, I will just close the account and move on....lol
They said it was large payment which means your previous payments are usually smaller. If that is true, then the hold is common practice with many banks.
If that's common practice, it's not cool with me especially since it's never happened to me before. I could have been travelling or in some sort of emergency and needed to use my card!! As I've said, if it becomes a habit with them, I will close the account since in my opinion that's bad business and unreliable....just my opinion.

So close the card if it makes you so emotionally overworked. Find a card that isn't going to make you get so emotional and feel so wronged. Plenty out there. Give someone else your business. Not a big deal.

Banks are businesses, they are not your friends. They do things to protect themselves and their shareholders.. If you don't like the anti-fraud mechanisms they employ when new customers make abnormal purchases or payments, you are under no obligation to stay with them.

good luck!

Re: The nerve of Cap One!!!

R2P2home — Tue, 17 Apr 2012 22:28:40 GMT

LOL,I think someone works for CAP ONE!!!!

Re: The nerve of Cap One!!!

TeeandDee — Tue, 17 Apr 2012 22:50:31 GMT

@Anonymous wrote:
@TeeandDee wrote:
@Anonymous wrote:
@TeeandDee wrote:
I've been with Cap One for more than a year and this has never happened before. I was shocked! I've always PIF and have never had a problem. This was the first time they pulled this! I was like oh no you don't! LOL! I checked back on the website and it has all been resolved. The hold is gone and my available balance is what it should be. I hope they don't start doing this often because if so, I will just close the account and move on....lol
They said it was large payment which means your previous payments are usually smaller. If that is true, then the hold is common practice with many banks.
If that's common practice, it's not cool with me especially since it's never happened to me before. I could have been travelling or in some sort of emergency and needed to use my card!! As I've said, if it becomes a habit with them, I will close the account since in my opinion that's bad business and unreliable....just my opinion.
So close the card if it makes you so emotionally overworked. Find a card that isn't going to make you get so emotional and feel so wronged. Plenty out there. Give someone else your business. Not a big deal.
Banks are businesses, they are not your friends. They do things to protect themselves and their shareholders.. If you don't like the anti-fraud mechanisms they employ when new customers make abnormal purchases or payments, you are under no obligation to stay with them.

good luck!

Wow....I don't seem to be the one emotionally overworked......you need to get a grip! Your rudeness is not necessary.

Re: The nerve of Cap One!!!

Anonymous — Tue, 17 Apr 2012 22:50:54 GMT

@R2P2home wrote:
LOL,I think someone works for CAP ONE!!!!

...

You caught the tater.