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@Brian_Earl_Spilner wrote:@tcbofade it's starting to bother me that I'm not getting instant credit for discover. Wonder if that has to do with the fact the card was secured at one point.
FWIW I only do 'pull' payments with three lenders, and Discover is one of them (Amex and BBVA are the others).
When I pay Discover I don't get instant credit/availability, either. I never thought much about it, though.
Updated original post
I just paid my BofA cc and it shows as "pending", but tells me that the money is available to spend now. I pay that account as a direct transfer from my checking.
Discover: Never had an automatic post or CL restored. Usually it's a 2 day process to get everything posted paying through the app.
Citi: Instant CL restoration, payment posts usually the next day.
BoA: Like Discover, it is usually a two day process for posting. I've had it as fast as one, but not very often.
All of these are pull transactions from each institution.
Informative thread. I feel like an oddball because I honestly have no idea on mine. Every few days, I log into accounts where the statements have closed and schedule a payment weeks in advance so they're pulled payments and as far as I know they're all applied on the date I scheduled them for and free up available credit immediately. In balancing my checking account, I can certainly say that some lenders seem to take a day or even a few days after the payment date before the ACH actually hits my BoA checking account. (Amex can be relied upon to always pull the money on payment date before I even wake up. LOL) The outlier here is BECU; I have to do an external transfer from BOA or NFCU checking to my BECU share account, then make a payment from my BECU share account my BECU Visa.
I am the same as K. The only thing I noticed is Citi updates the balance immediately. The others I don't really notice. I make sure the ACH comes out of my bank and I'm good.
K, have you thought about just pushing to BECU? My bank has all these entries for paying BECU electronically.
I wouldn't have a problem pushing payments to their accounts. I do it for Synchrony already anyway.
Since I PIF a couple of times a month I don't pay a lot of attention. Except that Comenity is the slowest. Cap1 is also slow, The others seem to be instant with posting/restoring available credit. Now how long does it take to get rewards that were earned applied is another question.
Of everything I have, Chase seems to be quickest and usually updates my available credit and balance before they've even taken their money from me. Amex *was* this way, but they seem to lag about 48 hours now. Bank of the West updates in about 24 hours and the rest usually have things worked through withing 2 days... Except Pen Fed, which strangely updates the balance within 48 hours, but available credit seems to lag a few *days* behind that.
I've never had a returned payment with any lender and have been paying from the same account for the life of the card. I've heard returned payments can make some lenders drag out updating available credit and balances.
All my CCs update balance and credit available by the next day. The exceptions are/were Citi, Chase and Apple Card.
Citi updates everything right away, which is awesome because many a time, I’ve needed to cycle my limits.
Chase would make my credit available immediately as long as I paid from a Chase checking account. Otherwise by the next day. I closed my checking account with them, so now everything updates the following day.
Apple Card was also updating my available credit and balance as soon as I made a payment — even $10k+ payments. Then, something happened after I made more large purchases and they took several days to update my balance and restore my limit. I’ve stopped using card for a few months after they refused to increase my limit or release my CL quicker.
Some CCs may also take a little longer than a day depending on the size of the payment ($40k or above that I've experienced), or if you add a new checking account for payment.
@Anonymous wrote:Since I PIF a couple of times a month I don't pay a lot of attention. Except that Comenity is the slowest. Cap1 is also slow, The others seem to be instant with posting/restoring available credit. Now how long does it take to get rewards that were earned applied is another question.
Normally, I don't pay attention either as I'm either cycling or I pay at least a couple of weeks in advance. I was just bored and figured it would make for some interesting datapoints, especially during this time when there may be delays for people getting their money.
I've never paid attention to the rewards. That'll be next.