I am new to capital one, they no longer give customers the ability to pay with a debit card(which instantly affects available credit)
so my only option was to pay with my bank account information, so I made a payment and I see that it affected my balance, but my available credit has not yet been affected. So I called and they said they placed my payment on a 7 day hold but they couldn't tell me why it happened. Or if it will continue to happen. They said it happens to some customers sometimes.
I am thinking they did this because this is my first payment with them and they want to make sure it won't get returned, and they said that's definitely possible but they couldn't tell me anything.
does anyone else have any experience with this? Did this happen on your first payment and then you were good? Or does this happen every time you make a payment?
my other credit card allows me to pay via my debit card so everything is instant. If this is going to happen every payment that is utterly ridiculous. 7 business days to hold a payment after the bank has already released the funds and the payment has already posted?
the only other thing I can think of is this. I intentionally keep very small amounts of money in my checking account Incase my card is ever stolen, they can only steal small amounts of money. In this case, I had enough money in the account to cover the payment, but not much more. So maybe they saw that?
I am really hoping they did this because it's my first payment/new account. If this continues it will be a serious negative for this card, and honestly turns me off to using it. I went to capital one because I hated the stupid policies on my other card and now it turns out cap one may have even worse policies. They take my money and then I have to wait 7 business days before they do anything with it!?!
That means I need to pay super far in advance to ensure my payments have 7 business days to process. This can affect my util ratio by making my balance too high at statement closing, and I need to pay like 2 weeks before my due date as well.
not to mention my available credit won't update so I won't even be able to use the card for like 2 weeks after they take the money from my bank account.
I talked to a friend who also has capital one and he said this happens to him for all of his payments. it never got better. They still take take forever to process. If this is a permanent issue I don't understand how any company just justify doing this to their customers, and how customers put up with this to begin with.
You can use this link to see if there is a Capital One branch, café, or ATM near you so you can pay with cash.
https://locations.capitalone.com/?map=39.635307,-101.337891,5z&locTypes=atm,branch,cafe,cashload
aren't these for depositing money into your cap one checking account? When I use that link it either says "atm" or "add cash to account"
it doesn't say anything about paying you credit card
Everyone,
i just got an email from capital one saying
they are holding my payment due to a recently added back account. And I can go to a specific page on their site and connect my bank account to expedite the process. They said I can also call the number on the back of my card to manually confirm the payment.
i tried to go to the special section of their website but I got an error message and it said to try again later.
Anyways it looks like it was just because my account was brand new
Update,
it worked! I linked my account and the available credit updated immediately.
if anyone is having this issue and did not get that email let me know and I can send you the link.