Why is pending transaction amount higher than purchase price?

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Socelli
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Postby Socelli » Thu Oct 25, 2012 1:50 am

Gas company merchants will usually hold $50.00 above what you pumped to make sure you have enough of a credit line to cover the cost of your sale but only when you pay at the pump. But holding $100.00? Wow! Must be a sign of the times.
Cards:
American Express: Business Platinum-NPSL, Delta SkyMiles Gold-$2K
Chase: Sapphire Preferred-$5K, Southwest Airlines Visa-$3.7K, Freedom-$400
USAA: Platinum MC-$4K, Advantage Rate MC-$4K, Amex-$4K
FBNO: BucksBack Visa-$1K, Amex-$1.7K
GECRB: Walmart Discover-$3,7K
Barclays: Financing Visa-$3.2K, Juniper MC-$1.1K
Capital One: Platinum MC-$1.5K, Platinum MC-$750
CFNA: Firestone-$1.6K
CitiBank: Office Depot Business Card-$1K


lexareece
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Postby lexareece » Thu Oct 25, 2012 3:00 pm

Every-time I buy Gas there is a $75 or $100 hold placed on my AMEX. If I use a Visa or MC its normally $1. Never really bothered me because I don't sit close to my limits or use NPSL cards, but always found it curious.
In my Wallet-
[size=60]Bank of America-Platinum Privledges Cash Rewards Visa Signature 12K
American Express- , Starwood Preferred Guest 6K, Hilton Honors 6K, Amex Everyday 10K, Business Gold Rewards
Chase- Freedom Visa Signature-6K, United Millage Plus Explorer Platinum Visa-5K
Barclays- US Airways Dividend Miles Business Master Card 24K[/size]

[size=60]In a Drawer
Bank Of America- Platinum Plus Rewards- 22K, Royal Caribbean Visa Signature 8K
Discover- More Card 8K
Citi- Thank You Mastercard Card 6K, Hilton Honors Visa Signature-10K, American Airlines World Master Card 6.5K
Credit Union Card- 20K- 6.9%APR NO Fees Period(for when I get in trouble[/size]

paparoach429
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Postby paparoach429 » Sun Dec 02, 2012 11:45 pm

Older thread but I heard that this happens with ALL credit cards if you pay at the pump. As long as you pay inside the gas station for a specific amount that is all that will show on the pending transactions tab.

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Socelli
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Postby Socelli » Mon Dec 03, 2012 2:59 pm

Restaurants are notorious for doing this. They want to insure you have enough credit to cover the actual charge. Once the debit is presented for payment the actual charge will show on your statement, nothing more. I freaked out when this first happened to me. But it all evens out in the end. No one's ripped off. It come with the territory of paying with a credit card at a restaurant.
Cards:
American Express: Business Platinum-NPSL, Delta SkyMiles Gold-$2K
Chase: Sapphire Preferred-$5K, Southwest Airlines Visa-$3.7K, Freedom-$400
USAA: Platinum MC-$4K, Advantage Rate MC-$4K, Amex-$4K
FBNO: BucksBack Visa-$1K, Amex-$1.7K
GECRB: Walmart Discover-$3,7K
Barclays: Financing Visa-$3.2K, Juniper MC-$1.1K
Capital One: Platinum MC-$1.5K, Platinum MC-$750
CFNA: Firestone-$1.6K
CitiBank: Office Depot Business Card-$1K

DoingHomework
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Postby DoingHomework » Mon Dec 03, 2012 2:59 pm

sakhalin wrote:How long do pending charges usually stay? I have pending charges from like 2 months ago from a restaurant...


When I place a pending charge it automatically goes away after 30 days. There usually is not notice to the cardholder though. A merchant can also renew the pending charge several times too.

DoingHomework
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Postby DoingHomework » Mon Dec 03, 2012 3:01 pm

paparoach429 wrote:Older thread but I heard that this happens with ALL credit cards if you pay at the pump. As long as you pay inside the gas station for a specific amount that is all that will show on the pending transactions tab.


That could be. But be aware that the station has nothing to do with this hold. The station processes a preauthorization then your card company decides whether to place a hold (pending).

paparoach429
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Postby paparoach429 » Tue Dec 04, 2012 12:06 pm

Ive never had this problem anywhere but at gas stations. (only when I pay at the pump) Since I like to have my credit cards always paid in even increments I always go inside to pay.

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tlp123
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Postby tlp123 » Fri Dec 07, 2012 8:43 am

paparoach429 wrote:Ive never had this problem anywhere but at gas stations. (only when I pay at the pump) Since I like to have my credit cards always paid in even increments I always go inside to pay.


Always good info from good people in this forum!

I recently noticed a lot of this in New Mexico, Utah, Colorado.

Have not experienced much in Texas.

Good info-thanks!
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