Cap One and method of handling payments ... PLEASE HELP!!

[Anonymous]

Is this normal???

We paid in full ($727!!! Yikes!!) his CC on Aug 23rd. The same day, it was "posted" to DH's CC account AND drafted from our bank account. Now, 4 days later, it still doesn't show as decreasing DH's balance!!! Granted, this is only our second payment on this account -- the first being the mere $29 AF immediately upon the opening the account.

So right now, it states that $727 was paid on Aug 23, and shows a "current balance" of $198 and "available credit" of $64.

What's going on???!!!

DH has told me that he's written them two "secure messages" asking what the *&^%'s going on and hasn't received a reply yet. DH is taking some BIG clients out for dinner tonight and was hoping to use his Cap One card. He's really torqued off about this!!

Anyone have any ideas???

[Anonymous]

Sounds like maybe he needs to call customer no-service and talk to a live person. Some shenanigans going on there, IMO...

[Creditaddict]

many credit cards when your a new account holder, they will hold your payments for 5-14 days.

that will get shorter as you build history with them and have no returned payments.

the payment is there and posted to your account, so you won't get late charges or anything, they just won't let you charge until they clear the payment.

[Anonymous]

But the payment HAS cleared. 4 days ago. That's what has us scratching our heads.

I even talked to the bank today and they said that "If Cap One doesn't know they have the payments, they need to pull their heads from their rears."

ARRGHH!

Now DH is cranky with ME since I convinced him to get Cap One!! o_O

[Creditaddict]

I understand.. that does not mean Capital one will not put a hold on the payment even if it has cleared.

[southernficoaddict]

Wonderin, HSBC does the same thing to me, the payment clears and posts and then they have a hold on my account for the payment amount for DAYS.  Also, I tried to pay more than twice online last month and Cap One wouldn't let me.  It said I had exceeded the number of online payments I could make in a billing cycle, so keep that in mind when you are trying to manipulate the whole reported balance thing.