Capital One Slow to Update Available Funds

[Anonymous]

I've had the Capital One Walmart MC since 2019, and payments and available credit have always posted rather quickly to our account. 

Welp, paid the balance in full in the amount of $535.61 on Dec. 6th, and the available credit still has not updated as it shows $14.39. 

Reached out to Capital One via phone and from what I could discern from the phone rep, sometimes Capital One will hold funds longer to verify funds?  Didn't quite understand what he was saying. 

Especially since the Capital One payment portal shows the payment posted to my account on 12/6 along with the confirmation code as well as the funds have been withdrawn from my Navy checking account.

The only thing that was different with this payment is that I normally pay it from a different account.  

Frustrating nonetheless.

[SUPERSQUID]

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@Anonymous wrote:

I've had the Capital One Walmart MC since 2019, and payments and available credit have always posted rather quickly to our account. 

Welp, paid the balance in full in the amount of $535.61 on Dec. 6th, and the available credit still has not updated as it shows $14.39. 

Reached out to Capital One via phone and from what I could discern from the phone rep, sometimes Capital One will hold funds longer to verify funds?  Didn't quite understand what he was saying. 

Especially since the Capital One payment portal shows the payment posted to my account on 12/6 along with the confirmation code as well as the funds have been withdrawn from my Navy checking account.

The only thing that was different with this payment is that I normally pay it from a different account.  

Frustrating nonetheless.

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I had something similar happen to me with my last payment on cap 1 QS and Target Red Card.

Usually cap one registers in my available credit by the next day but the last payment i made took a couple of days.

A similar thing with my last target red card payment, it didnt appear in my available credit for a few days however they took the money from my checking the day after i made payment.

maybe its just slow because of the holidays?

[collics]

Do you pay from a capital one checking? 

edit: nvmd I see u pay from navy

[Brian_Earl_Spilner]

Yes, it happens occasionally. Typically when you use a different account or make a large payment. They won't release the credit until they can confirm the payment has cleared, usually 10-14 days.

[Anonymous]

Sheesh.  Thanks @Brian_Earl_Spilner .  In this case, I was 2 for 2--different account and large payment.  Good to know going forward.  

Since we haven't used this card any for holiday shopping, considering sock drawing it.  Meh.

[SUPERSQUID]

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@collics wrote:

Do you pay from a capital one checking? 

edit: nvmd I see u pay from navy

No i dont pay from cap 1 or NAVY, I pay from my local bank.

There is only 1 Navy branch in my state and its on a restricted military base, you have to be active military to get in,.

Cap 1 has no branches in my area.

I have an account in a bank near me because sometimes you need a brick and mortar

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[SUPERSQUID]

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@Brian_Earl_Spilner wrote:

Yes, it happens occasionally. Typically when you use a different account or make a large payment. They won't release the credit until they can confirm the payment has cleared, usually 10-14 days.

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Now it makes sense, my cap 1 payment was above 500 but i usally keep my balance at zero so it really didnt bother me

[Anonymous]

I made a $12,131.00 payment on 12/8/2021 to my Capital One QS account. The available credit was back on the 9th (the next day) back to my $30,000 CL. No additional payment hold. Payment was made from my Wells Fargo checking account. However, this is a very old account, 14 years old and all of my Capital One cards have a CL of $10,000 to $30,000. I have not had nor asked for a CLI in the last few years.

Thanks

Mark

[Anonymous]

In addition. When I make a Capital One payment it adjusts my available credit to include the payment I just made instantly. It posts over night but as soon as I make the payment the available credit adjusts. I have this on all of my Capital One cards.

However, it is nothing special, Citi Bank, Wells Fargo and many others do the same thing. Instant increase of available credit.

Thanks

Mark

[SUPERSQUID]

Yes Mark, my payments arent as large as yours but usually make available funds by the next day. Once cap 1 even gave me instant credit for my payment, after i hit pay i saw my available credit go up dollar by dollar like a tickertape.

Usually target is the same pay today and its available tommorow.

but they were both slow this time.