apple card --went from loving to hating.

[mtsaz]

Have had an apple card for a few months- pay it off monthly never an issue ===month one- 740$- paid off , month 2- about the same- paid off.  Now this month- 2030$ paid it off and check cleared Aug 24 (Or thereabouts--not important exact date).  I noticed my available credit wasn't changing after 10 days so I called them.  ---I didn't want it reported wrong as if I owned 2030$.  

"your available credit will be released on Sept 10th- we need to be sure the account is valid and check clears".  WHAT?  So I pay it off same account which is 10 yrs old, and you are going to keep that payment (on ice) for nearly 3 weeks?"   YES.  then the kicker- "on large payments it SHOULD (keyword should) only happen one time".  How stupid is that.  

I have never had this experience- even back in the day when I had much less desireable cards---like first premier and other subprimes.  

Any comments/or similar experiences?  I am so tempted to just close it.  

Thanks

[Red1Blue]

It is common for companies to hold the funds for few days so it clears the bank. Especially for new accounts. You might go with smaller charges and payments and build relationship.

[Trini88]

Happened with me with Discover, Victoria  and Target. Completely normal. Only company I have an issue with is Penfed. Not their credit card but their Savings Account I have with them. Why does it take them exactly 5 business days EACH time to post my deposits 😪. If given the opportunity, I'll still never get a credit card with them.

[BearsCubsOtters]

I worked for a credit card bank many years ago. They had a problem with people doing what was called 'check kiting.' Check kiting is when a consumer makes a large payment (typically with a personal check) and then subsequently uses all of the credit line made available from the payment. Then, when the payment is returned, the bank is out typically twice the credit line.

This was especially rampant in certain Southern California cities..... I should mention that some of the consumers that ultimately went bad had previously maintained the account in perfect standing, sometimes for years, before deciding to do this. 

Did you pay by check via the postal service? If not, I think 10 days for an electronic (ACH) payment to clear is excessive. But I can see why GS would want to ensure that the payment clears (especially if paid by personal check). Hopefully, after this payment, their risk systems will flag your account/payment account as safe and it won't take this long in the future. 

[longtimelurker]

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@mtsaz wrote:

"your available credit will be released on Sept 10th- we need to be sure the account is valid and check clears".  WHAT?  So I pay it off same account which is 10 yrs old, and you are going to keep that payment (on ice) for nearly 3 weeks?"   Y

---

What is 10 years old, your bank account?   That wouldn't matter to the credit card issuer, as I presume the account is new to them, as you have only had the card a few months.

And yes, it's annoying, but as others have said, fairly standard protection for the banks

[SouthJamaica]

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@mtsaz wrote:

Have had an apple card for a few months- pay it off monthly never an issue ===month one- 740$- paid off , month 2- about the same- paid off.  Now this month- 2030$ paid it off and check cleared Aug 24 (Or thereabouts--not important exact date).  I noticed my available credit wasn't changing after 10 days so I called them.  ---I didn't want it reported wrong as if I owned 2030$.  

"your available credit will be released on Sept 10th- we need to be sure the account is valid and check clears".  WHAT?  So I pay it off same account which is 10 yrs old, and you are going to keep that payment (on ice) for nearly 3 weeks?"   YES.  then the kicker- "on large payments it SHOULD (keyword should) only happen one time".  How stupid is that.  

I have never had this experience- even back in the day when I had much less desireable cards---like first premier and other subprimes.  

Any comments/or similar experiences?  I am so tempted to just close it.  

Thanks

---

I think it's outrageous and inexcusable.

I do not agree with those posts which say that it's normal.

[Yasselife]

@Trini88 Same thing with Discover; I sarted using zelle as an option and transfers are instant; problem solved. 

[cashorcharge]

What I am trying to understand is why are you not using the wallet app to simply make your payment and avoid writing a check altogether?  With your Apple card on your phone you're getting 1, 2, or 3% back which is going into an Apple Cash account, also on your phone. If you're transferring Apple Cash directly to your credit card to pay it back then you do not need to link a debit card or checking account. However if you do, then you could deposit the Apple Cash into your checking account. Now with your checking account linked to Apple, you can make payments through the wallet and it WILL allow you to use Apple Cash accrued AND money from your checking account. It posts immediately to Apple and usually takes a day to come out of your checking account. 

if you have the money in your checking account, writing a check and going through this self-induced hassle seems like a lot more work. 

[lgtwriter]

@mtsaz  I can totally relate. For some reason, Goldman Sachs hates me. My apple card started at 2500 cl (way below my other cards) and has grown a whopping 250 dollars since I got it. My first payments on the card were really slow to report too, so I have stopped using it, which is probably self-defeating since they won't give me any more cli if I don't start using it more....

Anyway, I feel for you.

[SoCalGardener]

---

@mtsaz wrote:

Have had an apple card for a few months- pay it off monthly never an issue ===month one- 740$- paid off , month 2- about the same- paid off.  Now this month- 2030$ paid it off and check cleared Aug 24 (Or thereabouts--not important exact date).  I noticed my available credit wasn't changing after 10 days so I called them.  ---I didn't want it reported wrong as if I owned 2030$.  

"your available credit will be released on Sept 10th- we need to be sure the account is valid and check clears".  WHAT?  So I pay it off same account which is 10 yrs old, and you are going to keep that payment (on ice) for nearly 3 weeks?"   YES.  then the kicker- "on large payments it SHOULD (keyword should) only happen one time".  How stupid is that.  

I have never had this experience- even back in the day when I had much less desireable cards---like first premier and other subprimes.  

Any comments/or similar experiences?  I am so tempted to just close it.  

---

I'm just curious as to why you're still writing checks? The only time I do is for a large purchase, like a sprinkler system, where the company doesn't take credit cards. Why aren't you using your bank's bill pay feature?

Note that even if you do pay via your bank's bill pay, a payment can be issued in the form of a check. Certain places, such as the California Earthquake Authority, do not accept electronic payments, so even though *I* pay my Allstate bill online via BofA, the bank actually cuts and mails a paper check.

When you pay your bills electronically, A) they get paid much faster--most of my major credit cards alert me the same day I made the payment that they've received it, and, B) you have a virtual paper trail, i.e., the bank's records of when you initiated the payment, when they paid the bill, etc., so if questions arise, or a payment is late, you have the bank on your side. That's worked for me in the past, when a payment was late--it was their fault, they contacted the creditor, told them if there were any fees or penalties due to the late payment *I* shouldn't be held responsible and they'd pay them (there were none), etc.

Of course it's up to you, but after 25-ish years of paying bills via BofA's bill pay, I wouldn't want to go back to writing checks!