Credit Card Balance Transfer Question

Guest: jojo
Post subject: Credit Card Balance Transfer Question
Posted: Thu Jun 29, 2006 5:08 am

i just found out a werid thing on my credit card payment.

my credit limit is 7000,but the balance is 6000,i wrote a check to CC company for 6000,(i think they must received my check),not sure 3 days or 4 days after,i checked my credit card balance,it's was 0 balance,credit limit go back to 7000 right the way.the werid thing is,when i check my check account,the money i wrote for CC company was still there,the money didn't deposit to CC company yet,but how come the credit limit went back to 7000?is this a CC company's mistake?

any one can explain this?by the way, it's a BOA card.every CC companys do the same thing?

thx alot!

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davej
Posted: Thu Jun 29, 2006 5:58 am

Most likely the money in your checking account is on hold, hasn't just changed hands yet... Wait a couple more days to see what happens and let us know..

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db619196
Credit Expert (100+ Posts)
Posted: Thu Jun 29, 2006 9:16 am

I agree with Dave. My bank account is almost always a few days behind the credit card company in posting transactions online. I would give it a few days. You could also call the bank if you are worried. They can usually see the transaction before we can online.

David

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Board Monitor
Board Monitor/ Administrator
Posted: Thu Jun 29, 2006 9:30 am

David-

Greetings! Just a quick note that your account has been upgraded to "Credit Expert" status. Congrats and thanks for supporting our community!
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jojo
Posted: Thu Jun 29, 2006 11:57 am

i did call my bank,my bank didn't hold the money,they said just like the regular money transfer,check processing day is 3 to 5 days.

my question is why credit card company give the credit limit back even they didn't verified ur money?every CC company do the same thing ?or only boa?

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