topic Re: Since Cap1 has been doing it...WF figured to start in Credit Cards

Since Cap1 has been doing it...WF figured to start

Duncanrr — Fri, 17 Aug 2012 14:43:08 GMT

Every payment, except a $30 payment, has been subject to a 7-10 day hold when I pay my Cap1 credit card bill. Wells Fargo hadnt put a hold on a single payment.

That changed today. WF put a 7-10 day hold on my payment from the 15th. It has already cleared my bank and Ive gotten a notice from WF that the payment has posted but my available credit hasnt changed.

I HATE HOLDS!!!

Re: Since Cap1 has been doing it...WF figured to start

n777ua — Fri, 17 Aug 2012 14:43:58 GMT

Have you ever bounced a payment, or more than one payment ?

Re: Since Cap1 has been doing it...WF figured to start

Anonymous — Fri, 17 Aug 2012 14:47:03 GMT

How long have you had the account, and how frequently have you been paying? Have you started paying more frequently than usual?

Re: Since Cap1 has been doing it...WF figured to start

Duncanrr — Fri, 17 Aug 2012 14:50:41 GMT

@n777ua wrote:
Have you ever bounced a payment, or more than one payment ?

Nope. Never bounced a check. I dont have any Equicheck, or whatever that those check systems are called, flags or anything. I do make more than 1 payment and I know they list that as reason for holds. But come on. My limits are so frigging low that I have to make multiple payments just to be able to use the cards on regular basis.

Accounts are 3-4 months old. Ive made about 9 payments to WF and this was first one with hold. Ive made about the same to Cap1 and ive had 8 out of 9 payments held.

Re: Since Cap1 has been doing it...WF figured to start

j_casteel — Fri, 17 Aug 2012 15:27:37 GMT

i've never had any payment put on hold on any of my cards and i almost always make payments for over $100

Re: Since Cap1 has been doing it...WF figured to start

Duncanrr — Fri, 17 Aug 2012 15:37:31 GMT

I know I can call them and have them release the hold but it just bugs me. It also makes me wonder if they are seeing something that I am not aware of that is causing them to feel the need to place holds.

Oh well, guess I'll not be using cards this weekend....back to good old debit card.

Re: Since Cap1 has been doing it...WF figured to start

WarJar101 — Fri, 17 Aug 2012 17:17:05 GMT

How are you able to check the holds on your account with Cap One? I want to be aware of this myself, since I just approved for a Capital One Platinum Unsecured card.

Re: Since Cap1 has been doing it...WF figured to start

jcstarkey8826 — Fri, 17 Aug 2012 17:29:53 GMT

you should set up electronic payments from your online banking account. Mine go through the day I schedule the payment and show up on my card available later in that day. I never write checks. I, like you, have low limits and have to pay every week to keep using it. Ive never had any issues in almost a year.

Re: Since Cap1 has been doing it...WF figured to start

Duncanrr — Fri, 17 Aug 2012 17:38:47 GMT

@jcstarkey8826 wrote:
you should set up electronic payments from your online banking account. Mine go through the day I schedule the payment and show up on my card available later in that day. I never write checks. I, like you, have low limits and have to pay every week to keep using it. Ive never had any issues in almost a year.

I know. Ive been told this but I shouldnt have to do this. ACH is a secure form of transfer and once the funds clear my bank there is no reason for a hold. Ive been refusing to set up electronic payments out of spite

Re: Since Cap1 has been doing it...WF figured to start

Anonymous — Fri, 17 Aug 2012 18:00:37 GMT

USAA finally put a hold on my last payment but I think that is because I finally closed my checking account with them

Re: Since Cap1 has been doing it...WF figured to start

compassion101 — Fri, 17 Aug 2012 22:22:59 GMT

Seems strange this day and age to have to put a hold on a domestic check. Having said that, just use electronic payments. I haven't had an issue like this in 5 years.

Re: Since Cap1 has been doing it...WF figured to start

jamesdwi — Fri, 17 Aug 2012 23:42:07 GMT

They both are reminding you that you hold a subprime card and you will be treated as a substandard citizen untill you graduate to a prime card, yet its unlikely that either bank will graduate you to a prime card this decade, and you should leave them behind as soon as possible,

Re: Since Cap1 has been doing it...WF figured to start

creditnocash — Sat, 18 Aug 2012 00:28:59 GMT

none of my cards have ever held onto anything.

a few weeks ago i tried paying my best buy store card (hsbc now capone)

1300 payment.

they said they tried the debit card but was denied and that it was the banks reason and to contact them.

funny thing is i work at the bank and i looked my limit was 10k purchases and was 1k(at one time out of the atm)

so anyways told em my account number and ach transit number and bam went through.

payment posted after 2 days but held onto the credit for about two weeks.

(it just freed up)