I consistently make full payments on the card balances prior to the due date. 3 - 4 days later, when I check my credit availability, these payments are noted as being received but they are not noted in my available credit.
This has happened several times and each time a low level supervisor with zero knowledge regarding how electronic payments (EFT Electronic funds Transfer) work then proceeds to tell me there is a hold until Capital one verifies the payment.
The problem with this is that an EFT is acknowledged the next business day. Verification of this is that the funds are no longer in your bank account.
I suspect capital one is temporarily using my payment for 3-4 days prior to crediting my account with the payment. This is fraud. This also makes the label Credit Card laughable when applied to Capital One.
All the various actors who seem to have sold their soul to advertise Capital One should really reconsider. Bad choices can begin to affect their careers.
Do not apply for a Capital One card as dealing with Capital One's incompetent administration is really not worth the aggravation.
Product or Service Mentioned: Capital One Credit Card.