Avail credit with Chase not reinstated after payment

[primechicken]

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 Since then, the payment has been received, the money withdrawn from my bank account, and my available credit has remained in the $200 range, even though my credit limit still says 1k and the payment was received.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?

[Anonymous]

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.

[primechicken]

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.

[09Lexie]

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.

[Anonymous]

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.

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@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.

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

[Anonymous]

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

[primechicken]

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@Anonymous wrote:

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

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I'm chill. Not worried just curious.

[primechicken]

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@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.

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No, with the local credit union.

[09Lexie]

@enharu

Thanks, I try! Lol

[Burned2manybridgesB4]

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.