Penfed - How Long Until Available Credit is Updated?

[heirophant]

Just got this card in January and made my first payment.  My payment posted on their site on the 3rd. Was $1300. My available credit has not updated. How long does it take for them to update available credit?  Never seen it take this long with any other creditor sans Credit One.

[Bradac56]

Usually a couple of business days at the least they are glacial at times.  If it goes to Friday I'd give them a call.

[Anonymous]

My PenFed credit card was slow to update available credit after making payments as well. I believe this will fix itself after 90 days. 

[heirophant]

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@Anonymous wrote:

My PenFed credit card was slow to update available credit after making payments as well. I believe this will fix itself after 90 days. 

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Interesting. I wonder why that is?

[CreditCuriosity]

Immediate for me.. PenFed usually have actually if I recall a 6 month could be 3, but 6 sounds right probabation period where payments, etc take longer after that they are instant also pulling money into say a checking is instant as well at least for me

[Horseshoez]

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@CreditCuriosity wrote:

Immediate for me.. PenFed usually have actually if I recall a 6 month could be 3, but 6 sounds right probabation period where payments, etc take longer after that they are instant also pulling money into say a checking is instant as well at least for me

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I believe the same thing applies to transfers of money from external accounts into PenFed accounts; typically I see the "Current Balance" get updated the next day, however, there is typically a delta of three to five days between when my bank says money has been sent and when it shows up as an "Available Balance".

The above said, I am still within 6-months of becoming a PenFed member.

[mystikal1]

It is usually 5 business days until account has been opened for 90 days. 

[cashorcharge]

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@CreditCuriosity wrote:

Immediate for me.. PenFed usually have actually if I recall a 6 month could be 3, but 6 sounds right probabation period where payments, etc take longer after that they are instant also pulling money into say a checking is instant as well at least for me

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It's 3 months...at least it was for me.  In the first 3 months, my "available credit" took 7 days to update...even if made the payment from my own account with them....inside their FI or outside...it took 7 days for available credit to update though the payment was credit the day it was posted.  I was curious a while back and was explained this by their CSR