Cap1 does it again - another hold on my payment

[OilFieldEngineer]

I have had two accounts with Cap1 for almost 2 years they did that in the begining on both accounts just stick with them and build your history then dump them when you get approved for some prime cards. I just paid off both of them and am waiting for the balance to show zero before I close both for good!!!

[Duncanrr]

It would be ironic if they put a hold on your last payment

[Steelersfan904]

So far I haven't had any holds yet. I have another scheduled for today though

[jsucool76]

I haven't had an issue making payments with them yet, I've even had them clear my payments and free up my balance before the money was even posted as having left my checking account. Say I pay today, the (before 4:00PM I think it is) the payment will post today, and my funds will be available by tomorrow. 

[injustifiiable]

I've never had issues either, but then again, I'm not trying to send them anything over $200 - $300 at a time. Love BoA online banking bill pay...the only useful thing BoA offers...lol.

[Duncanrr]

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@jsucool76 wrote:

I haven't had an issue making payments with them yet, I've even had them clear my payments and free up my balance before the money was even posted as having left my checking account. Say I pay today, the (before 4:00PM I think it is) the payment will post today, and my funds will be available by tomorrow. 

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I think its because my card is a "secured" product they treat me like I'm a criminal.  I may have missed payments in the past but I have never issued a bad check!

[injustifiiable]

I have the secured card too and never had a problem. They are probably on the cautious side because of the size of the payments.

[Duncanrr]

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@injustifiiable wrote:

I have the secured card too and never had a problem. They are probably on the cautious side because of the size of the payments.

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Your probably right.  That is kind of the problem.  I push 8k through my debit/checking account each month.  I would rather do this through a rewards card so I can get some points.  Fortunately for me, a $700 check isnt a large amount.  But it is about 80% of my credit limit on the card.

[Unoriginalnj]

I couldn't agree more with Duncan about crap1 and their policies. Unfortunately for some they're a necessary evil when trying to rebuild. But once you've gotten to the point of no longer needing them - gtfo asap.

[OilFieldEngineer]

It would be the ultimate irony and be the helpful reminder why I am cancelling them in the first place.