So i ask you, what kind of credit hold is this? what is the justification? especially when wells fargo itself already posted the payment they received to my account!! and then they act like they are not sure bank of america sent the funds..........
Unfortunately I'm afraid this type of thing is pretty standard in the banking and credit industry. Basically, I think just because one creditor shows the payment doesn't actually mean they've got the money from the paying institution yet. I think it's sort of...provisional for a bit.
I don't have a Wells Fargo account, but here are a couple of other examples to sort of illustrate the point:
My Citi credit card reflects payments to my balance INSTANTLY when I make them online (like within seconds), but of course doesn't reflect them in my available credit for a few business days after that. I'm sure if my Chase bank account said, "Hold on, he doesn't have the money in his account that he's trying to pay you." They'd revert my balance back to what it was before the payment, but it would take a few days.
Second example, I make frequent payments to all my credit cards, occasionally more often than once a week. Whenever I make more than one payment a week my Discover account pops up with a little message saying that the second payment won't be reflected in my available credit for a bit longer than usual...I presume that's because making payments more than once a week looks odd to the automated system so it sort of 'flags' it.
I believe there is some variability in the length of time a bank places a hold on different transactions. I know it has to do with the amount itself - naturally they want to be more cautious and thus process larger transactions more slowly - but I believe it also has to do with your particular account balance/history/general profile. On the spending end some merchants take quite a lot longer for the charge to be finalized than others.
Anyway, I'm afraid there isn't much you can do but wait. It really isn't unusual at all for a brief hold to be placed on credit limits pending a payment being completely finalized on both ends. On the bright side as long as the money is there in your B of A account there shouldn't be any problem.
Of course it might be a problem if you need the line of credit right away, but unfortunately I don't think there's much you can do at this point. Just one more reason to try to keep your utilization low I suppose. Anyway, best of luck, and of course definitely contact the banks again if it doesn't work itself out in a few business days, but in the meantime don't be alarmed.