PenFed Posting Time Frames

[mystikal1]

Does anyone know what the posting time frames for payments are at Penfed? I have made 2 payments (statement hasn't cut yet). They show posted but have not been applied to available balance yet. 

[chiefone4u]

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@mystikal1 wrote:

Does anyone know what the posting time frames for payments are at Penfed? I have made 2 payments (statement hasn't cut yet). They show posted but have not been applied to available balance yet. 

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For me, when pulled by PenFed, my available credit updates immediately but the balance remaining doesn't change for 3 business days.

I've had one payment pushed from another bank go missing, after a week I had to get the trace number from the sending bank and PenFed found the money the day after sending them the trace number. 

If no balance or available credit change has occurred within 3 business days following the debit from your funding account, I would contact them and ask when they expect it to post.

[mystikal1]

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@chiefone4u wrote:

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@mystikal1 wrote:

Does anyone know what the posting time frames for payments are at Penfed? I have made 2 payments (statement hasn't cut yet). They show posted but have not been applied to available balance yet. 

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For me, when pulled by PenFed, my available credit updates immediately but the balance remaining doesn't change for 3 business days.

I've had one payment pushed from another bank go missing, after a week I had to get the trace number from the sending bank and PenFed found the money the day after sending them the trace number. 

If no balance or available credit change has occurred within 3 business days following the debit from your funding account, I would contact them and ask when they expect it to post.

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Thanks, they have poster and balance has gone down but available balance has not. I will call in the morning.

[UpperNwGuy]

My payments always post the following day, and my available credit adjusts then, too.  But I always pay my PenFed credit cards from my PenFed checking account, so PenFed owns both sides of the transaction.

[rostrow416]

First payments on the account?

I'm still waiting for my first payment to clear, it posted a week ago but the available balance hasn't changed.  I think it's standard to hold the first few payments, NFCU held my first 3 payments for 7 days each.

[mystikal1]

I called PenFed today, the representative told me for the 1st 90 days they put a 10 day hold on releasing the available credit. After that it will be same day. 

[mystikal1]

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@rostrow416 wrote:

First payments on the account?

I'm still waiting for my first payment to clear, it posted a week ago but the available balance hasn't changed.  I think it's standard to hold the first few payments, NFCU held my first 3 payments for 7 days each.

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Thanks for the info on Navy. Easier with the PenFed hold because CL is larger lol.