Goldman Sachs/Apple card and frequent payments

[Anonymous]

I'm interested to see if this has been experienced by anyone else. I've not heard of this being an issue with apple or other cards. 

My credit limit is low ($1250) and I've been putting heavy spend on it and make regular frequent payments to keep the balance low. Recently I made a large payment that got held (previous payments were not getting held) but customer service was able to release it. I then bought an iPhone 13 Pro Max direct from apple using the split payment method between two cards. As soon as that cleared I made a large payment of $960 to bring the balance back down. The payment got held and I contacted apple again but this time they said I'd made too many payments this month and my payments were being flagged. As a result they couldn't release it and it is on a 9 day hold. That was 3 days ago. My bank cleared the payment to them 2 days ago and I contacted apple again today to try again. No budging, too many payments in this month, flagged, to protect me, blah blah. I'm very upset and had them take a complaint so it's at least noted I object about the length of the hold. I was literally told that once I start spreading my payments out the holds will get shorter and my credit will release faster. My account started out with zero holds. 

I have a chase card that holds for 5 days, that's the longest I've personally seen. 9 days is ridiculously long. Has anyone seen anything like this?

[CreditPacMan]

I make 2-3 payments a month but I let the balance increase to a point then make a payment. Generally, I have seen lenders hold large payments on new accounts (it happened to me with other banks). But as the account ages, this should happen less frequently. 

[Anonymous]

I am sorry you are going through this but it is not unusual.

With my HSBC card if I make more then two payments in a week they will hold my next payments for 10 days to clear, this is a card with a $10,000 CL and I am talking a $20 payment. Still a hold no matter how much.

Discover does this too, but 3 days between payments or a 7 day hold.

I can list a half dozen banks off the top of my head that will do the same thing. The CL can be $25,000 and you make a few $50 payments in a row and it will trigger the 10 day holds.

I understand that you are trying to proove you can handle your finances but it may come back to you shooting yourself in the foot.

Sorry but that is just how it works with CC's

Thanks

Mark

[Anonymous]

Thanks, that's helpful. It is a new account and I'm newish to credit cards. My oldest card is 18 months old and this one is less than 2. I will make a point to go to only making two payments a month. 

[Red1Blue]

Give them time to get to know you. Don't worry about the hold. Once they start looking at the pattern they will relax. It happened same thing to me few months ago and they put hold for 10 days. I said it is okay, now I make 2-3 payments a week and they don't care. Limit is released even before it is debited from my bank. My suggestion let it not bother you. 

[Kforce]

Long time ago when I had small CL's,  I would make one payment each week. That never scared any of my card issuers.  2-4 time a month and you should have no problems.

[dcp0524]

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@Anonymous wrote:

I'm interested to see if this has been experienced by anyone else. I've not heard of this being an issue with apple or other cards. 

My credit limit is low ($1250) and I've been putting heavy spend on it and make regular frequent payments to keep the balance low. Recently I made a large payment that got held (previous payments were not getting held) but customer service was able to release it. I then bought an iPhone 13 Pro Max direct from apple using the split payment method between two cards. As soon as that cleared I made a large payment of $960 to bring the balance back down. The payment got held and I contacted apple again but this time they said I'd made too many payments this month and my payments were being flagged. As a result they couldn't release it and it is on a 9 day hold. That was 3 days ago. My bank cleared the payment to them 2 days ago and I contacted apple again today to try again. No budging, too many payments in this month, flagged, to protect me, blah blah. I'm very upset and had them take a complaint so it's at least noted I object about the length of the hold. I was literally told that once I start spreading my payments out the holds will get shorter and my credit will release faster. My account started out with zero holds. 

I have a chase card that holds for 5 days, that's the longest I've personally seen. 9 days is ridiculously long. Has anyone seen anything like this?

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Idk if it's a workaround to this specific issue but I use my debit card to load the amount on the Apple Cash card and then make a payment using my Apple Cash balance. I do it for a couple of reasons. One being that the money is immediately gone out if my checking account. I don't have to remember that the money will come out in a day or two. And the second is I don't like others to have my account and routing number. I try to push as many payments from my Chase checking account as possible. If for some reason a bill payee has a slow delivery date then I'll use my routing/account info as a last resort.