Yea, well, I usually only have nice things to say about Cap 1. There credit cards have done right by me through some rough years, however, they do have this thing where they really do FLOAT our money to excess.
I'm actually dealing with them (or rather severing my dealings with them) for a similar over the top abuse of allowable wait days. I opened an online MMA account with them a few weeks ago and the opening deposit was an ACH using BoA. Although the money left my account on October 18, it was only made available to me today. Their response: New savings accounts have an 11-business-day hold on all deposits and after 30 days there will be a 5-business-day hold.
I have an identical online MMA account with Amtrust as well - opened a week earlier. Original deposit using the same method took 5 days and a subsequent transfer into the account was made available the business day after the transfer date (Amtrust has slightly better APR too)
sorry for taking your thread over with my vent -- it just irks me that they think it's okay to hold onto our money just to play the interest game without any real need to protect themselves.
landocalrissian wrote:
Get this. I have had my CapitalOne Platinum Visa Card (CL = 300 dollars) for a little over a month and have used it numerous times while sending them at least 3 payments through online payment feature from my bank. Cap1 states on its customer website that any payment made online before 3 pm will be available and applied to the account on that same day; after 3 pm it will be available the next day. Well, I made a 175 dollar payment on the 27th of October (my 4th payment) and they took the money that I owed them, but they did not apply it to my credit. I called CapOne and the customer service rep told me that they were holding my payment for 6 days and waiting to see if the source where they recieved the money from (my bank) was legit or something of that nature before they would apply the payment to my credit. Now mind you, they already have my new statement online where the payment has been applied, but under recent transactions they did not apply the payment. What is going on?? Is Cap1 trying to make sure they get their finance charge?? I really feel that the customer service rep was not telling me the full truth. And why would they hold this payment and not the other 3??? Has anyone had this problem. I am paying Cap1 with reckless abandon to show them that I mean business!!!
Message Edited by landocalrissian on
10-31-2007 06:24 PM
Message Edited by Cooneyca on
10-31-2007 06:42 PM
