Multiple payments per month to Cap 1

[bbrannan]

I have my Wells Fargo account set up as a payment source and just make online or mobile payments directly from either Cap 1 site or mobile app.

[bbrannan]

You have a valid point. I will try sending my next few payments using my Wells Fargo billpay instead and see if that makes any difference. I will let you know. Thanks again!

[warpedlogic]

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@bbrannan wrote:

I have my Wells Fargo account set up as a payment source and just make online or mobile payments directly from either Cap 1 site or mobile app.

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This is exactly how I'm paying them as well, but I have a secured card.  Maybe that's the difference?

[bbrannan]

But you have never had a hold placed on a multiple payment? Not on the balance but only on the available credit. You would think if they were going to reflect a paid balance, that they would also reflect avail. credit too. IMO

[warpedlogic]

Correct, no hold on avail credit ever.  I'm making, on avg, 2-3 payments a month.  One to 2 to get my balance down to where I want it to be when it's reported, then the last one when I get my statement.  You'd think that if they were going to pull this with anyone, it'd be their rebuilder group.  lol

[bbrannan]

FINALLY got my answer! This is a new account (only 2 months old) and that is the reasoning for it. (At least that is the reason that they just told me.) I will try sending in my payments through my bank's billpay and see if that makes a difference as well. I will post my results and let you know! Thanks!

[warpedlogic]

Glad you got an answer that makes sense! 

[GregB]

I would suggest you always use the CC online payment and pull from your checking account. That way you have a record and a confirmation number for the payment.

There might be some need to use your bank online payment to push an payment to the CC such as when you want to pay more than the online balance but that is very dangerous to rely on that for a payment to be made on the due date. From my experience at work managing several hundred online payments per month, using you banks billpay WILL cause you problems.

[bbrannan]

Good to know. I will admit that it is much more convenient to be able to just log in on my phone and press a button to make the payment. Perhaps they will stop holding funds soon and all will be good again.

[warpedlogic]

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@bbrannan wrote:

Good to know. I will admit that it is much more convenient to be able to just log in on my phone and press a button to make the payment. Perhaps they will stop holding funds soon and all will be good again.

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Well, my account is 5 months old and for the past 2 months, for sure, I have not had avail credit held.  I didn't notice for the previous 3 months.  Maybe they will stop it this month or next month.