Capital One 5 day hold on payments.

I was using my capital one card like normal running somewhat of high balances and then paying them right off. I always pay on time and I always pay before the statement closing date. However, paying the card off in full before the statement closing date seems to trigger some sort of hold for five days. I'll be calling to get the hold removed as soon as the ACH payment shows up on my bank account.
The reason I always pay in full before the statement closing date is because I don't want Capital One to report a 100% credit utilization for the month to the credit bureaus.
So now you can see how a five day hold would throw a wrench into my plans.
Here's the thing though. Once I scheduled the payment, Capital One's accounts show 0 balance on the card, but a 0 available funds on the card as well, while its in this 5 day hold limbo.
Well, here comes the statement closing date, on a *Monday (see edit). So what the heck is going to be reported to the credit bureaus?
Will it be a 100% credit utilization? Will it be 0% credit utilization?
Either way, it's not good. I would be better off paying a lower amount to see if there was a chance that it would be processed in a timely manner.
However, I can't do that during the 5 day hold. I can only do that once the 5 day hold is over.
If the payment hasn't been processed then I can only assume that they will report a credit utilization percentage of 100 percent. Like I spent.
What do you think? I'll be waiting as the weekend passes. Then, I'll call in on Monday; the day of the statement closing date. I might be able to get the hold released, push the payment through by the end of day. And then I will have a low balance reported to the credit bureaus. I'll have all A's on my credit score. edit: a mistake was made earlier in this post. the statement closing date is actually on a Sunday. So it's too late to try to push a payment through now. It's going to report as it was on that day.
UPDATE: It's Monday. I woke up at 6am and everything worked out perfectly. Capital one was happy to release the funds it took all of 5 minutes, and now I'm back to a card with a full balance.
UPDATE 2: 12:00 PM on Monday, the statement came in. It went just about as perfectly as possible. I'm all set with Capital One and my statement, everything is paid, and it correctly reported to the agency. Under 10% of my limit with full credit availability. I got an A.

motoleo wrote:
^ (Gasp) I can't have that happen to me. I can't have them report a 98% (105% in my case) utilization ratio! It mustn't. I have no other cards. This is my only card. It's just a platinum. The limit was just increased to 500 dollars. I never had any returned payments until they did the 5 day hold. You really don't know where the money is because everything is always pending.Are you waiting until the statement closing date to time your payment, or only  few days ahead of statement closing, and making that one payment per month? That's a knife edge you are dealing with. On a $500 card, I'm all for maxing that puppy out and then PIF by the payment due date, but that presumes one stops using the card before the limit. If you are using this as your main spend vehicle, that is fine. You need to pay it more often. When you get to $250, set up an immediate payment on Capital One's site to pull the $250 from your bank account. That will take a few days to clear, meanwhile you continue to charge on the card. When you have charged another $250 of spend on the card, log on and schedule another payment to pull from your bank account. Alternatively, on Saturday, look at what is in your Capital One Open Balance, and schedule a payment to pull from your bank account to pay it on Monday. Let those balances report, whatever they are. You may think a $500 statement balance is a Bad Thing? It is not. Over the course of time, when you show that you can report those kinds of balances and PIF, then you will start to get better cards, to give yourself breathing room. And +1 to the comments that you can't allow these payments to be returned. Ever. When you commit to a payment going to your credit card, you no longer have those funds available in your checking account. As another alternative, open a checking account at Capital One. This will provide the instant payment from your checking to your credit card that you want to see. Good luck!

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    Hi,  new member here, although I've been reading on this board for over a year. I own a small C Corporation and have been settling my debt with numerous Credit Card companies.  I've actually settled 7 out of 8 in the last 1 1/2 years leaving only a Capital One Line of Credit. I hope to be able to settle this as well, but decided to dispute the validity of my supposed Personal Guaranty, as I know I never signed one.  So I sent a DV letter to them stating that I was only disputing the Personal Guaranty, that the Corporation does not dispute the validity of it's debt.  (They send 2 copies of all collection letters, one to me and one to the Corporation.) I received the following today.  "Acording to our rcords, we received your application by Phone/Internet on....."  So if they ever sue me, to prove that I am personally liable they may have a recording of the application, but no signed guaranty. Here's the important part that I don't understand.  "We have placed a disagreement code with a resolution of dispute on your credit file to the major credit reporting agencies." Any idea what this means in this context?  I have a subscription to Experian so will check to see what this does to my FICO score tomorrow and in the days to follow. Thanks so much for any help you can give me.  I love forums, am active on other ones, and knew eventually I'd have to post here as I'm trying to rebuild my credit. 

    Thanks Robert, that's what I was coming to believe after more research on the web and finding out, as you said, that a DV doesn't apply to an OC. They did send me a form letter asking if I disputed the validity, which is what I replied to.  My main concern now in this step is to determine what if any documentation they have of the guarantee.  The Internet/Phone comment at least indicates they don't have a signed one.   What do you think of sending a letter such as this that I found on the web?  I'd edit it of course.  edit:  I just realized this is from a Scottish website, so the references don't apply.  However what I'm wondering is if I should push it in some way to find out what if any documentation they have.  Should they not be able to document my liability I would think I could get it off of my report.    Dear Sir/Madam
    Account No:  
    You have contacted me regarding the account with the above reference number, which you claim I owe because of a signed personal guarantee.
    I have no knowledge of signing a personal guarantee and dispute any personal liability for this debt.
    I am familiar with the Consumer Credit sourcebook of the Financial Conduct Authority (FCA) which states the following.
    "A firm must not ignore or disregard a customer's claim that a debt has been settled or is disputed and must not continue to make demands for payment without providing clear justification and/or evidence as to why the customer's claim is not valid." 7.5.3 
    "A firm must suspend any steps it takes or its agent takes in the recovery of a debt from a customer where the customer disputes the debt on valid grounds or what may be valid grounds." 7.14.1
    "Where a customer disputes a debt on valid grounds or what may be valid grounds, the firm must investigate the dispute and provide details of the debt to the customer in a timely manner." 7.14.3
    If you do not cease collection activity whilst investigating my dispute you are breaking the FCA’s rules and guidance.
    Furthermore, ignoring and/or disregarding claims that debts have been settled or are disputed and continuing to make unjustified demands for payment amounts to harassment.
    I ask that no further contact be made concerning the above accounts unless you can provide evidence of my liability for the debt in question, including a copy of any personal guarantee you claim I have signed. 
    I await your written confirmation that this matter is now closed. Otherwise I will have no option but to make a complaint to my local trading standards department and consider informing the FCA of your actions.
    I look forward to hearing from you.
    Yours faithfully

  • Another Capital One Increase...This time an increase of 4K!

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    OmarGB9 wrote:
    Grats on the huge cap1 luv!Thank you!

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