Will Capital One hold my first payment?

[jbishop1001]

I'm about to make my first payment to capital one. I'd like to know if I should expect my funds to be held on my first payment? I see typically funds are available after 8 am the next business day... but will this be the case for my first payment?

[Imperfectfuture]

They didn't with me, but I never maxed the card out, not even to 80%. Make several payments each month.

[dallasareaguy]

I feel like an expert on this subject <ha ha>... as I use my 2k capital one secured card religiously and pay it off constantly each month.

If you take cash to a branch before 4pm CT it will post same day and you will see payment hit that evening around 9pm and the credit will release by 8am CT like clockwork.

If you pay with check or payment via ACH online the same thing will happen but you are possible to get a C1HOLD003, C1HOLD005 or the dreaded C1HOLD010 which is 3, 5 or 10 days respectively. These holds are computer generated based on the way you manage your account. I can tell you that in almost all cases a first payment on higher risk cards are likely to get the 3 day hold just to protect them the first payment until they establish. Once you get to making routine payments there will be absolutely no holds placed.  (Note: I have only been able to see this hidden HOLD using the mobile app under recent transactions.. it doesnt show up online website for some reason.)

However, just today in fact I had a 10 day hold placed on a $1750 payment I made which is funny because I made a $2000 payment two weeks ago (and then ran the card up all the way... they didnt put a hold on the $2000 complete payoff but they did put a hold on the $1750 last night. Each time this happens I call them and they release the hold .. usually by verifying the payment. If they can call your personal banker or whatever source you made the payment from to verify the money from the payment they will absolutely remove the hold. I've had this hold removed 3 times over the course of the last year when they oddly place a hold.

People bash Capital One for the most part, but thus far they have been nothing but amazing to me while trying to rebuild my credit... and just recently approved me for my first unsecured card since before our business failure in 2010. It's great to be building back up.. I know there will be a day I likely will have better card rates, fees, etc... outside of Capital One.. but I won't forget the professional manner they have treated me thus far when I needed them most.

Good Luck!

[jbishop1001]

Does utilization really matter in terms of a payment? I just need to know if they have to do some kind of bank verification the first time that might cause a delay in funds availability?

[Imperfectfuture]

As stated above, depends on size of payment, just call to see if can be released sooner. Do you have a hold code on payment?

[jbishop1001]

No, haven't submitted payment just yet. Going to pay 50% of my balance ($150) but then I need to pay a utility bill in the next few days... just don't want to be late!

[Imperfectfuture]

Just pay. See what happens.

[coldnmn]

They did for me the first few times. I just called each time and they released the hold. After a few months never a problem again.

[Anomalous]

dallasareaguy gives a great explanation. I don't remember them putting a hold on my payment/available credit when I sent in my first one; however, I have received the 5 day hold when I made a larger than my normal payment to my account in the past. 

[ojefferyo]

That's odd, I've never had a hold on any of my payments. I pay it today before the cutoff and the next day its available. I have 3 cards with them and its the same for each one.