Every month I've been increasing my FCNB payments by a couple hundred dollars. This month it hit $1,000. And every month I call FCNB's automated telephone info line to make sure the payment got there. This month I noticed my balance decreased by $1,000 but my available credit didn't increase at all. So I called customer service. The rep told me with payments of $1,000 or more they put a 10-business-day hold on the check. So my payment won't be applied to my credit limit until mid-March. This is a major pain because the check has already cleared, so I don't have the money available in either my checking account or on my credit card. The rep said I can call when I notice the check has cleared and FCNB will call my bank to verify and maybe free up my credit limit, but I'm not optimistic. (It's a relatively new account.) I was also told that if I had sent a check for $999.99, it would have been applied to my credit limit immediately. And I was told if I build a history of large payments, there would no longer be holds on my large payments. For "security reasons," no one would tell me what qualifies as a history of large payments. (I guess my $800 payment last month and $600 the month before doesn't count.) Just a word of warning to fellow FCNB customers. I remember reading -- probably on this list -- that FCNB puts a hold on large payments, but I don't remember any quantifying what qualifies as a large payment. It appears to be $1,000. This normally wouldn't have been a problem, but we had an unexpected $150 vet bill. Maybe in the future I'll break it into two payments -- one via mail and one via my bank's online payment system.
DISCOVERCARD told me to pay an un-even amount like $2,742.87, it will have NO HOLD...if you pay $3,000.00, it will have a HOLD (because of all the checks that bouce 90%+ end in $XX00.00) JUST F.Y.I. SINCE I CHARGE $3,000.00 ON A SLOW MONTH, I HIT THE ROOF THE FIRST TIME THEY TRIED TO "HOLD" MY PAYMENT FOR A COUPLE OF WEEKS!!!! (I HAVE GIVEN DISCOVERCARD AS MUCH AS $80,000 IN ONE YEAR).
They will release it after verifying with your bank that it cleared. I had to deal with this hold for my first year with them as I always charged at least $2000.00 per month and paid whatever that was due at end of month. Fortunately my limit was high enough that the hold didn't matter most of the time. After one year they told all holds off the account.
I never worry about it because I just get a cashiers check on anything over 300.00 and then get my credit immediately.
holds on cashiers checks, too The rep said FCNB even puts 10-day holds on large payments made with cashiers checks and, if I remember right, money orders. She didn't know about ACH payments.
Re: holds on cashiers checks, Wonder if the real reason for holds is to charge late and over limit fees!?!
