Capital One seems to be doing this a lot lately. I wouldn't mind the hold if I had other cards that I can use to purchase my needs.

Deposits work like this also. If you make your first deposit to a checking account by check, there will be a hold for a certain amount of time until the check is cleared. After that, they won't give you any problems. Capital One is actually fast with processing payments if you make the payment before the cut-off time.

Yep, they said it was some kind of security precaution. They said that if we "needed" the amount they were holding, that we could call a different number and talk with someone else and they could see about lifting the hold. We didn't "need" it...but wanted it because it just irked me that they could hold it, so we called the other number and the lady told us that she couldn't lift it and that it would automatically release on the 22nd. They kept saying since it was a "large" payment. It was only $148.10. That doesn't seem real large to me, but apparently to them it is.

I don't really understand their reasoning behind holding the payment. If someone was trying to rip us off (meaning if someone got ahold of our card), I highly doubt they'd be taking the time to send in a payment for it! ha!

If we had known this would happen beforehand, I would have waited. I just read online that they like to see a lot of usage and payments, so that's what we were trying to do.

Wow... so you mailed the payment in and they are going to hold it? That doesn't make sense to me. What if you want to use the av/credit? I've had this card for about two weeks. Paid the $39 annual fee online, then made a few purchases and paid another $40 online. All before the bill was sent. I still don't have a bill, but now everthing shows as ava/credit. I'm wondering should I always make a payment online after reading your experience.

Well now I know what the problem is. My husband just called and they told him that since it's such a new account and that we had made a large payment, that for security purposes, the payment will be "held" until the 22nd.

My husband asked if this would happen again in the future and they said no. So we'll see!

We just recently got a Capital One card. After we activated it, there was the $39 fee, plus we filled up both cars with gas. I sent a payment in last week to pay that in full ($148.10) even though I hadn't been sent a bill yet.

They received the payment and it shows up on our transaction history for August 12th. We have since then used it for a couple of other things and all of those things have posted as well.

I was freaking out trying to figure out why our available balance is much lower than it should be and I just figured out that the "Available Balance" isn't reflecting our payment.

So for example:

$300 Limit

$69.29 Current Balance

$82.61 Available Credit

The difference is exactly $148.10 which is what we sent in. Why isn't it reflecting in the available credit yet? It was a money order and it was posted to the account August 12th.

This is confusing me and I was hoping maybe some of you could explain why. Hubby is gonna call when he gets home from work, but curiousity is killing me!!!!

I dont know why it should take 2 years. They should let them fall off if they see that an account was opend when you applied...ie approved.

You know they are going to hit you with all 3 again

That sucks

You know they are going to hit you with all 3 again!

I have two accounts with Cap1. I got my first one almost a year age and decided to get another with rewards a couple of months ago. My first card had a CL of $300 which I ended up asking for a CLI and went up to $800. The second was CL of $500. So I guess it matters on your credit profile. If I successfully complete the creditsteps program, my new account CL will be bumped up to $750. I guess if you've been pre-selected you have a better cahnce of getting the card but not too sure in your case about the limit being higher than your other card.

Thanks Cireone and Meya, I called they said give it 45 days before I reply...i'll do that!

I have two accounts with Cap1. I got my first one almost a year age and decided to get another with rewards a couple of months ago. My first card had a CL of $300 which I ended up asking for a CLI and went up to $800. The second was CL of $500. So I guess it matters on your credit profile. If I successfully complete the creditsteps program, my new account CL will be bumped up to $750. I guess if you've been pre-selected you have a better cahnce of getting the card but not too sure in your case about the limit being higher than your other card.

Ewww, I am not sure, let's wait for Eric or HJM331 because they are the two that I know who have experienced two accoutns with cap 1. Sooo sorry!

THey are not stupid

Meya do you think they will give me a higher limit?

THey are not stupid:laugh:

Hey, I say go with the flow. Ask them if they can use your current cr that they just pulled to offer you the first one. There is no use to let them pull all three again, I think that will be a hard hit twice on each report.

Got another offer in the mail today...."We recently reviewed your credit information and designed an offer we believe is the right one or you right now. With you current status, you've been pre-selected for this Capital Once Platinum Master Card offer....(Because you never know when you're going to need some extra credit)...should I apply? Do they know they just gave me a card[/COLOR]

I've had my Capital One card since last November. I got an auto CLI in March, and now it's 5 months later.

My payment history may be a little unorthodox. I sometimes carry a large balance, but I make multiple large payment. I'm thinking of using my frequent, multiple large payments are an argument to get a larger limit. My bill typically looks like this

Man..ask for it!! They might ask your salary. It should work!!