Capital One Putting Holds On Payment

[shelveen]

I have been a capital one customer for about 4 months now. I initally got a $500 credit limit. I always paid the bill in full and on time. They raise my limit to $750 on the fifth month.

The only problem i have is that, they always put my payment on hold for 5 days. I use the credit card and pay off about 3 times a month.

I use a checking account and always have funds in the account and never bounce a check,


Does anyone else have this problem?

Is this normal?

[jadams]

Push it from your bank and they shouldn't put a hold. (i.e. use your banks bill pay)

Most banks bill pay should be next day for a large company like Capital One.

[shelveen]

i used that option as well...and they still put it on hold

[keepinitreal]

i used that option as well...and they still put it on hold

I guess the only thing else you can do is go to a Capital One Bank branch in person and pay your bill in cash. They couldn't put a hold on cash for 4 days lol.

[liz417]

I had the same problem the 1st couple of times I paid on their website, I haven't had any problems since. Maybe you should contact someone at Capital One and see what they have to say....hmmmm

[joab]

I spoke to a rep who told me that for payment due date and interest calculation purposes, the payment is credited on the business day that it's received. They place a 6-day hold on funds availability to make sure the payment actually clears, which seems like overkill, especially since in my experience it's more like an 8-day hold.