What?! Discover Payment Policy

[UncleB]

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@Anonymous wrote:
By pushing payments do you mean using the bill pay associated with your checking acct vs using the credit card issuer's electronic payment system (app or online)?

I made a $50 payment on Sunday and a $25 payment on Monday, on my Discover card I've had less than a week. I made the payments via the Discover app and they each posted the day after they were made. If Discover has this policy, it must be enforced randomly because it didn't seem to apply in my case.

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Yes, an 'ACH push" is where you initiate your payment with your bank/checking account, and 'send' the payment to the account you are paying.  An "ACH pull" is where you initiate the transaction with the card/account itself, and they withdraw the funds from your bank/checking account.

Technically speaking, 'pull' transactions are much easier to reverse so they might be viewed with more caution, especially with newer accounts.

Once your account has aged a bit, most lenders will relax with this, but not always (my previous experience with HSBC).

[Anonymous]

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@Anonymous wrote:
By pushing payments do you mean using the bill pay associated with your checking acct vs using the credit card issuer's electronic payment system (app or online)?

I made a $50 payment on Sunday and a $25 payment on Monday, on my Discover card I've had less than a week. I made the payments via the Discover app and they each posted the day after they were made. If Discover has this policy, it must be enforced randomly because it didn't seem to apply in my case.

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I have seen the 8 day message in the past but have never encountered it either. I will say that I don't use my account very often so it wouldn't be an issue for me, but I can see how it could/would be a potential issue for others.

UncleB made a good suggestion. Until recently, I never used the bill pay system via my checking account. I always made payments at the creditor's site. I find that I enjoy the ease of it and the ability to pay whatever amount I want. Best of luck OP finding a solution that works for you.

[dragontears]

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@Anonymous wrote:
By pushing payments do you mean using the bill pay associated with your checking acct vs using the credit card issuer's electronic payment system (app or online)?

I made a $50 payment on Sunday and a $25 payment on Monday, on my Discover card I've had less than a week. I made the payments via the Discover app and they each posted the day after they were made. If Discover has this policy, it must be enforced randomly because it didn't seem to apply in my case.

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The hold has nothing to do with payments posting, it is when they release the credit line for use again so for your case the $25 payment you made that monday will not be available for use for 8 days not that the payment won't post for 8 days.

[Loquat]

If you think Discover's policy is bad then you'd hate PenFed.  They will hold your payment for 10 days for the first 6 months your account is open.  It doesn't matter if you make 1 payment or 20...they're still going to hold them.  

[Anonymous]

What does a payment on hold mean? And why would anyone need to make payments shorter than 3 days apart? Thanks.

[UncleB]

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@Anonymous wrote:

What does a payment on hold mean? And why would anyone need to make payments shorter than 3 days apart? Thanks.

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A 'payment hold' is when your payment posts, and you have credit for making it, but the funds from the payment aren't available for new purchases (in other words, your available credit isn't increased to reflect the payment). 

It's a security measure used by lenders usually when an account is new, when usually large payments are made, or for other reasons.  It's especially annoying when an account has a small credit line, and someone is making frequent payments to be able to continue to use their card. 

[Anonymous]

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@Anonymous wrote:

What does a payment on hold mean? And why would anyone need to make payments shorter than 3 days apart? Thanks.

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1. They take your payment (sometimes you see it debted from your checking) but it's not applied to your amount owed for several days.  Right?

2. Paydays. Surprise Auto Charge Forgotten.  Emergency Credit Card use that may affect UTL for that period.