DIscover is fairly easy to talk to. Just call them up and tell them your concerns. Be prepared to hear that since your account is newer and you are making multiple large payments, that there is a reason for the hold. One full week does seem a bit excessive, however.
Keep in mind that payments made on most any card on a Friday, for example, may not post until Tuesday and that helps put things in perspective. Citi credits the payment instantly and I appreciate that feature as well, but most lenders do not credit payments as quickly. 
@Anonymous wrote:I've had the Discover It card for a couple months and with some use I really don't understand all the "hype" around it. I think it's totally average, and there are a few features that I find totally unacceptable. The cashback system is average (I find CapOne's to be superior), the categories are average (5% at six flags? puh-leaze) My biggest problem with it is the payment policy. I've run a few thousand dollars through the card and have made several smaller(<$1,000) payments without issue. But i used it for a large purchase and subsequently made a $1,600 payment over a week ago and it STILL has not updated my available credit. My limit is $2k and i wanted to use the card for more purchases on amazon to get 5% cash back but i was unable to because i did not have enough available credit. Absolutely none of my other cards tie up my available credit for over a week! My Citi double cash updates my balance immediately and all other cards do the next business day. I think it's so ridiculous, it makes this card useless for me for half the month. I don't think I will ever use my Discover card for a large purchase again, really disappointed. I have 6 different cards and there's no reason for me to use my Discover over the rest of them.
Credit holds like that are typical for any creditor until they have experience with you.
Discover only gave me a $2,000 limit too. And US Bank gave me a $8,500 limit the same week. Of course, after 3 1/2 years my Discover limit hit $42,500 and now I don't worry about how long it takes a $1,600 payment to clear anymore.
I like the 5% cash back (10% the first year), I like using my cash back points to buy gift cards, as that gives at additional 11% or 25% increase in points value. They reduce APR every 6 months if you ask.
I would suggest focusing on what the credit cards you have will end up becoming, rather than worrying about minor growing pains during the first few months. And if the limit is too restrictive, call and see if they can increase the limit. It will probably require a HP since your account is so new, but it can be worth it. I took 2 HP's my first year to get my limit increases, its not the end of the world. Though waiting until the card is 6 months old will probably increase the chance of an increase.
@Themanwhocan wrote:
@Anonymous wrote:I've had the Discover It card for a couple months and with some use I really don't understand all the "hype" around it. I think it's totally average, and there are a few features that I find totally unacceptable. The cashback system is average (I find CapOne's to be superior), the categories are average (5% at six flags? puh-leaze) My biggest problem with it is the payment policy. I've run a few thousand dollars through the card and have made several smaller(<$1,000) payments without issue. But i used it for a large purchase and subsequently made a $1,600 payment over a week ago and it STILL has not updated my available credit. My limit is $2k and i wanted to use the card for more purchases on amazon to get 5% cash back but i was unable to because i did not have enough available credit. Absolutely none of my other cards tie up my available credit for over a week! My Citi double cash updates my balance immediately and all other cards do the next business day. I think it's so ridiculous, it makes this card useless for me for half the month. I don't think I will ever use my Discover card for a large purchase again, really disappointed. I have 6 different cards and there's no reason for me to use my Discover over the rest of them.
Credit holds like that are typical for any creditor until they have experience with you.
Discover only gave me a $2,000 limit too. And US Bank gave me a $8,500 limit the same week. Of course, after 3 1/2 years my Discover limit hit $42,500 and now I don't worry about how long it takes a $1,600 payment to clear anymore.
I like the 5% cash back (10% the first year), I like using my cash back points to buy gift cards, as that gives at additional 11% or 25% increase in points value. They reduce APR every 6 months if you ask.
I would suggest focusing on what the credit cards you have will end up becoming, rather than worrying about minor growing pains during the first few months. And if the limit is too restrictive, call and see if they can increase the limit. It will probably require a HP since your account is so new, but it can be worth it. I took 2 HP's my first year to get my limit increases, its not the end of the world. Though waiting until the card is 6 months old will probably increase the chance of an increase.
And I just did an online chat with Discover, they reduced my APR another 1/4% down to 12.24%
I don't need it, but... the squeeky wheel gets the grease, etc.
" would suggest focusing on what the credit cards you have will end up becoming, "
This statement may very well be my favorite that i have read here in my 6 months in FICO LAND. This is an awesome way to view your cards or one you may want to apply for because even if you start small, if you know it has potential you can feel much better about having said limit or go for it when you may feel you dont have a chance.
This statement may very well be my favorite that i have read here in my 6 months in FICO LAND
. This is an awesome way to view your cards or one you may want to apply for because even if you start small, if you know it has potential you can feel much better about having said limit or go for it when you may feel you dont have a chance.