@C_DUBYA wrote:I have a PayPal Mastercard. $900 limit. During Christmas I used the card and spent $893 on it. In January I paid the balance in full. As of today my balance shows $0 as it should, but my available balance is still $7.
So I called in to ask when the available balance will update since the balance is zero. The woman told me it would be available on February 18th. This is about 21 days after the initial payment. I asked why and she said it was normal process. Huh?
My bank already shows the money long gone, and PayPal properly shows it as "completed".
Anyone else have this? Is it because I paid the entire thing off? I don't need the card to use right now, but I am more concerned that it could report something wrong to my credit. (Like available being $7 vs $900 hurting my util)
What a horrible incentive to pay off a card....
They should be reporting the correct balance as the balance on your end shows as $0
but as for your available credit, they don't trust your payment/spending pattern/credit profile/you/[insert reason the AI got spooked here] so they want extra time to ensure it's legitimate.
did you pay through a bank account connected to paypal or did you push a payment from somewhere else?
Perhaps you can call Synch and ask them to have a 3 person call with the bank to confirm the funds are legitimate and released, but you're probably going to have to wait this one out. It shouldn't impact reporting, and they should be reporting $0 balance
Once (after 21 days) they confirm your funds and you are legit your available balance will return and it probably won't happen again unless you spook them again
This is standard practice for a lender if there are fraud concerns or they want to make sure a large payment clears. For example, cap1 could hold a payment for up to 14 days if you make more than 1 in a month or it's large enough.
Banks do it all the time when you deposit a large check. Release a little bit, hold the rest until cleared.
I agree, 21 days seems really long before settling the payment. I'd be inclined to postal mail them an amex traveler's check next month.
I think it's always best to pay in chunks when you are out of your normal paying/charging patterns.
Just like a bank holding your deposit for a week it is much larger than your normal balance.
GL!
I just realized I had the same thing happen to me. New to the card, so that could be why. But I noticed that there was a discrepancy between my available credit and my balance. Called them up and they confirmed its on a hold. Only $380 too.
@Tcal how long has the payment been on a holding pattern?
AFAIK amex is the only vendor that credits payment against the balance immediately, while the payment clears in the couple/few days.
I've noticed a couple (IIRC NFCU and Synovus) sometimes will lack a pending charge or payment which makes for a visual discrepancy among the figures.. but it's only a short time, like less than a day maybe.
If your hold time ends up the typical 1-2 biz days (instead of ~21 like the OP) maybe you're seeing a similar anomaly like I see with NFCU and Synovus from time to time?
Cap One credits me immediately.
