Cap1 Hold on Payments

[Duncanrr]

Well, I had this happen to me with Cap1.  Its been a while since Ive seen anything posted about it so I thought I would share the information with yall.  Here is the response from CSR I got today when I asked why my available credit wasnt increased after payment cleared my bank:

"Let me explain you something about Capital One Hold on payments. Capital One hold on payments is usually placed for some verification purposes to check the source of the funds generated to make the payment especially when it is your first payment on new account or the payment sum is large. Hence, Capital One randomly pick one or more payments from every account for this hold purpose, time to time.  The reason for placing a hold on your payment are returned payments in past 6 months, account is delinquent, account is new or within first month, multiple payments in a single billing cycle."

 All the bold phrases apply to my account.  It is a new account, I made multiple payments in a single billing cycle and my payment was for 70% of my total CL (PIF).  I hope this is only a couple statements that they do this.

[Revelate]

Every lender does this during the honeymoon period, though some may be pickier than others on specific points.  Once they get used to you, it'll wear off. 

[webhopper]

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@Revelate wrote:

Every lender does this during the honeymoon period, though some may be pickier than others on specific points.  Once they get used to you, it'll wear off. 

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Amex; chase; and nfcu have never held any of my payments. They credit the account on same day as the payment is made.

[Anonymous]

This happened to me, all I did was called Capone customer service and told them the payment hit my bank account.  They always immediately removed the hold. 

[injustifiiable]

I guess I've just been lucky. I usually do my payments ACH through my bank's online bill pay and it's posted and credit available in 1-2 days. Like if I do a payment on a Monday, it'll post on Tuesday and credit is available by Wednesday.

Today, I made a payment in cash at one of their branches (CapOne doesn't have any branches in my city, but there was one in another city I happened to be in this morning). The girl said it should post by Thursday (because of the holiday...she was saying cash payments usually post and increase available credit at the end of next business day).

We'll see what happens.

[Revelate]

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@webhopper wrote:

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@Revelate wrote:

Every lender does this during the honeymoon period, though some may be pickier than others on specific points.  Once they get used to you, it'll wear off. 

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Amex; chase; and nfcu have never held any of my payments. They credit the account on same day as the payment is made.

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1) luck, 2) non-trivial income, 3) demonstrated successfully managing high spend  Everyone else's mileage will vary... i.e. Orchard never held any of my payments but they certainly did for other folks.

[Anonymous]

Weird. I have made three payments to my capital one and I am credited the next day and the available credit is ready to use within 24hrs

[TeeandDee]

I had my Cap 1 account for over a year and they out of no where started doing that to me.  I have perfect payment history, never late, always early, and the funds always clear.  The first time it happened, at the advice I found on this site, I called in and asked them to remove the hold.  They did.  Then they turned around and did it for a second time, I called in, and this time they refused to remove the hold.  They provided NO reason for the hold because they did not have one.  I asked them....is this how Capital One treats their excellent Customers??  Perfect payment history, never late, etc.....?!?  So I stopped using their website to set up payments and began using my Bank's Bill Pay to make the payments.  I haven't had a problem since.

 I will not never use Capital One's website to set up payments ever again.  I really can't wait until January when I will close both my Capital One accounts and be done with them all together.  I'm grateful for them giving me a chance when no one else would, but their Customer Service is horrible and the accounts do not grow with you past "Credit Steps".