Capital One

[Anonymous]

I did a balance transfer two weeks ago and paid my ccs down to 0. Cap 1 went through last week and shows cc limit 0. I called Cap 1 and asked about the cc limit and they told me that they put the account on hold for 12 days when paying a large amount. I paid $1000. Since then they charged me the annual fee which I paid that off right away so I have a 0 balance again. Has anyone heard of this before or do think they are closing the card on me?

[john398]

I have had other banks do that on a new account, not sure on capital one, good luck

[JayRizzo]

john398 is right, most banks would do that if you don't have a history of large payments then suddenly submit a one out of the blue.  From their end, they don't know if it's fraud or not so there's a hold for x-days.  After a couple of days, you can give them a call and ask for the Escalation Senior Account Specialists who can actually release the hold.  Just always be nice to everyone on the phone and you'll get good results each time.  That's what I'm doing this year, killing 'em with kindness.

[Anonymous]

yeah Cap one did that to me when I paid 1500 off to a Zero balance.

I called them and they explained the hold, my response was it was a bank bill pay coming from the account that makes all my payments to them

They removed the hold

[Anonymous]

It is common practice for new accounts and larger than normal payments.   Capital One will clear the credit on my large paymens the next morning, before the money comes out of my checking.   Paypal holds every payment for a the full 10 business days, no matter the size.

[Anonymous]

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@Anonymous wrote:

It is common practice for new accounts and larger than normal payments.   Capital One will clear the credit on my large paymens the next morning, before the money comes out of my checking.   Paypal holds every payment for a the full 10 business days, no matter the size.

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Paypal will clear the payment the next morning if you call em and utter these words verbatim: " I SAID I NEED THE PAYMENT CLEARED BY TOMORROW!". It works; I do it all the time :-)