topic Avail credit with Chase not reinstated after payment in Credit Cards

Avail credit with Chase not reinstated after payment

primechicken — Sun, 19 May 2013 07:48:40 GMT

On my Freedom card I had a balance of $750+ on a 1k limit. Friday I paid it down to zero with one payment. Since then, the payment has been received, the money withdrawn from my bank account, and my available credit has remained in the $200 range, even though my credit limit still says 1k and the payment was received. I called today and the CSR explained that my payment has been suspended for seven days to be reviewed and investigated. He says it's because the payment was a large one on a newer account (opened in March). I have used only one bank account to make payments since I've had it, and I've made several, but because of the amount of this one, they flagged my account. He says I can call during business hours on Monday to expedite the process of validating the payment information and having the available credit reinstated. I could understand this reaction to me making a charge for that amount, but a payment? You'd think it wouldn't be so difficult to give these people money. Anyone have any insight or experience on this?

Re: Avail credit with Chase not reinstated after payment

Anonymous — Sun, 19 May 2013 07:59:05 GMT

most lenders have some sort of fraud prevention regarding this. this is completely normal especially in cases where that specific lender has no prior business relationship with you. At least its a 7 day hold. Some lenders hold it for up to 30 days.

just wait for it and you will be fine.

if it helps you can always offer them to do a 3 way call with your bank.

EDIT: also to add, its not just with banks. Even cell phone companies sometimes withhold payments for new accounts.

Are you using someone else's account to pay? Or is the name different on your bank account and credit card? Some banks abbreviate your middle initial, while some don't. A discrepancy in that alone can sometimes trigger it.

Re: Avail credit with Chase not reinstated after payment

primechicken — Sun, 19 May 2013 08:10:07 GMT

Nah it's same name on both accounts - me. It's the same account - the only account - that I've paid with successfully several times since I was issued the card.

Re: Avail credit with Chase not reinstated after payment

09Lexie — Sun, 19 May 2013 08:16:00 GMT

Sorry this happened to you. IMO, it was the large pyt + the new account. Although this has never happened to me, it has been posted by others and not just Chase.

They are making sure the payment has cleared before giving you that balance. If, your payment s returned and they allowed you to charge your account could be over the limit. I assume that you do not bank with Chase.

Re: Avail credit with Chase not reinstated after payment

Anonymous — Sun, 19 May 2013 08:17:43 GMT

don't worry too much about it.

the system probably flagged you because it's out of your usual pattern to pay in such large amounts.

@09Lexie wrote:
Sorry this happened to you. IMO, it was the large pyt + the new account. Although this has never happened to me, it has been posted by others and not just Chase.

They are making sure the payment has cleared before giving you that balance. If, your payment s returned and they allowed you to charge your account could be over the limit. I assume that you do not bank with Chase.

+1. Lexie always gives much better explanations than I do

Re: Avail credit with Chase not reinstated after payment

Anonymous — Sun, 19 May 2013 08:20:14 GMT

Relax! Chase moves really slow, it will wash out. Whats with all the stress??

Re: Avail credit with Chase not reinstated after payment

primechicken — Sun, 19 May 2013 08:22:17 GMT

@Anonymous wrote:
Relax! Chase moves really slow, it will wash out. Whats with all the stress??

I'm chill. Not worried just curious.

Re: Avail credit with Chase not reinstated after payment

primechicken — Sun, 19 May 2013 08:23:03 GMT

@09Lexie wrote:
Sorry this happened to you. IMO, it was the large pyt + the new account. Although this has never happened to me, it has been posted by others and not just Chase.

They are making sure the payment has cleared before giving you that balance. If, your payment s returned and they allowed you to charge your account could be over the limit. I assume that you do not bank with Chase.

No, with the local credit union.

Re: Avail credit with Chase not reinstated after payment

09Lexie — Sun, 19 May 2013 21:55:11 GMT

@enharu

Thanks, I try! Lol

Re: Avail credit with Chase not reinstated after payment

Burned2manybridgesB4 — Sun, 19 May 2013 09:18:47 GMT

OP, I've had this happen with GE, and Cap. I never let balances sit, so I chase usage with a payment typically right away. From an amount of 60-100 bucks, they grew to know my routine, but as soon as a hit the 600 mark, they held that sucker until it was bled dry, as far as time goes. If you do something out of routine, or it's a newer account, they'll pull this occasionally.

Re: Avail credit with Chase not reinstated after payment

primechicken — Sun, 19 May 2013 09:23:06 GMT

The rep made it sound like once it's verified it should be good to go from here on out. At least when paying from that particular account.

Re: Avail credit with Chase not reinstated after payment

Anonymous — Sun, 19 May 2013 09:28:35 GMT

It might be a 1 time thing, but it might happen again if you're trying to make a payment much larger than you did this time round.

Over time such occurances will be very rare unless you had returned payments.

Re: Avail credit with Chase not reinstated after payment

Burned2manybridgesB4 — Sun, 19 May 2013 09:37:58 GMT

Same place as you? Play nice....

Re: Avail credit with Chase not reinstated after payment

primechicken — Sun, 19 May 2013 09:41:49 GMT

@Anonymous wrote:
It might be a 1 time thing, but it might happen again if you're trying to make a payment much larger than you did this time round.
Over time such occurances will be very rare unless you had returned payments.

I appreciate the willingness to be a helpful and contributing member of the forum!

Re: Avail credit with Chase not reinstated after payment

zeusta20 — Sun, 19 May 2013 09:45:01 GMT

@primechicken wrote:
On my Freedom card I had a balance of $750+ on a 1k limit. Friday I paid it down to zero with one payment. Since then, the payment has been received, the money withdrawn from my bank account, and my available credit has remained in the $200 range, even though my credit limit still says 1k and the payment was received. I called today and the CSR explained that my payment has been suspended for seven days to be reviewed and investigated. He says it's because the payment was a large one on a newer account (opened in March). I have used only one bank account to make payments since I've had it, and I've made several, but because of the amount of this one, they flagged my account. He says I can call during business hours on Monday to expedite the process of validating the payment information and having the available credit reinstated. I could understand this reaction to me making a charge for that amount, but a payment? You'd think it wouldn't be so difficult to give these people money. Anyone have any insight or experience on this?

I've experienced this. Don't worry. Its because its a large payment that if they release the available credit to you, and all of a sudden the payment gets rejected, then the bank can take a loss. I made a 2800.00 payment on one of my credit cards as well. They were going to hold it, but once I called, and did a three-way with my bank, and my bank verified that it cleared my account. Then the rep released the hold.

You're fine.

Re: Avail credit with Chase not reinstated after payment

zeusta20 — Sun, 19 May 2013 13:45:25 GMT

enharu wrote:

It might be a 1 time thing, but it might happen again if you're trying to make a payment much larger than you did this time round.

Over time such occurances will be very rare unless you had returned payments.

There's some really intelligent people out there, I think enharu is one of them!

edit by webhopper

Re: Avail credit with Chase not reinstated after payment

DaveSignal — Sun, 19 May 2013 09:51:07 GMT

I make large payments on all of my cards, and haven't had a hold put on a payment. I have, however, had cards put on hold. BoA has put my card on hold twice for random international transactions. Both times I had to explain that I am living in a different country for the time being and this is how it is.

SDFCU, however, lets me do anything with the card. I can use it multiple countires, purchase anything, and pay any amount when the bill is due (I usually make $1800 payments, which are credited almost instantly). They don't even bat an eye.

I think credit unions are more lenient.

Re: Avail credit with Chase not reinstated after payment

LS2982 — Sun, 19 May 2013 12:07:49 GMT

@primechicken wrote:
The rep made it sound like once it's verified it should be good to go from here on out. At least when paying from that particular account.

And that is what it is, just new account and large payment made a flag go up in the system.

Re: Avail credit with Chase not reinstated after payment

TimeToRecover — Sun, 19 May 2013 13:33:41 GMT

I have found that if I am going to do anything not my normal spending or paying habbit i jus t either give a quick call or press the "talk to rep" button the web site and tell them ahead of time what I am doing. They note it ahead of time and don't flag anything since I have told them what to expect.

for example I was making a large charge on my cap one to take advantage of the 0% (paid off a loan with horrid interest) I called them before told them who the charge would be to and the approx amount. they noted it and i had no issues

ALSO NOTE I have found enharu's information always quite accurate and informative. I work with many people who are not US citizens and I highly respect them and I often take financial advice from them. One even got me into playing around with the stock market a bit.

Re: Avail credit with Chase not reinstated after payment

Revelate — Sun, 19 May 2013 14:45:24 GMT

@primechicken wrote:
@09Lexie wrote:
Sorry this happened to you. IMO, it was the large pyt + the new account. Although this has never happened to me, it has been posted by others and not just Chase.

They are making sure the payment has cleared before giving you that balance. If, your payment s returned and they allowed you to charge your account could be over the limit. I assume that you do not bank with Chase.
No, with the local credit union.

I've never had to do this, but I think there's a period of time where the source account doesn't release the funds, and you can dispute the transaction in that time period. Once you have a solid history established with this account, it likely won't be an issue. This is especially true with new accounts and new payments, banks on both sides get a little finicky about those.

Looked at it from our vantage point in normal transactions, it's highly irritating; however, in the event of an actual fraud scenario, where someone else initiated an ACH against your account and routing number pair, this would be a very good thing indeed for us .