Why do credit card purchases take so long to process?!

For just about anything you want to get off your chest about credit cards.
4 posts
andy1088
Centurion Member
Centurion Member
 
Posts: 156
Joined: Wed Nov 30, 2011 8:23 pm
Location: New Jersey, United States

Why do credit card purchases take so long to process?!

Postby andy1088 » Sun Apr 15, 2012 8:49 am

I'm trying to avoid interest on my new Freedom card, but I spent $71 on Thursday and it still hasn't shown up on my balance. My dates coming up soon, but it won't let me apply $272 just $200! I hate waiting for charges to post it's frustrating it's like they want you to pay interest even if you pay in full :mad:
My cards
Chase-Sapphire-$5,000 Freedom-$3,000, Amazon rewards-$700, Slate-$600
Citi- Diamond Preferred-$4,000, Thank you-$2,500
Discover IT-$2,500
Bank of America cash rewards-$2,000
Capital one newcomer rewards-$500


jeffysdad
Centurion Member
Centurion Member
 
Posts: 875
Joined: Thu Apr 30, 2009 2:32 pm
Location: Texas

Postby jeffysdad » Sun Apr 15, 2012 12:40 pm

As long as your card has a grace period, and it almost certainly does, then you won't be charged interest as long as you pay the balance shown on your last statement. Grace period means you won't be charged interest on new charges since your last statement as long as you pay the statement balance in full for the previous month.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

andy1088
Centurion Member
Centurion Member
 
Posts: 156
Joined: Wed Nov 30, 2011 8:23 pm
Location: New Jersey, United States

Postby andy1088 » Sun Apr 15, 2012 2:51 pm

jeffysdad wrote:As long as your card has a grace period, and it almost certainly does, then you won't be charged interest as long as you pay the balance shown on your last statement. Grace period means you won't be charged interest on new charges since your last statement as long as you pay the statement balance in full for the previous month.

Thanks. I guess it's just frustrating that I want to post a payment today for friday (day I get paid), but due to the fact the charge hasn't cleared i can't. I'll just wait to see if it goes through tomorrow.
My cards
Chase-Sapphire-$5,000 Freedom-$3,000, Amazon rewards-$700, Slate-$600
Citi- Diamond Preferred-$4,000, Thank you-$2,500
Discover IT-$2,500
Bank of America cash rewards-$2,000
Capital one newcomer rewards-$500

jeffysdad
Centurion Member
Centurion Member
 
Posts: 875
Joined: Thu Apr 30, 2009 2:32 pm
Location: Texas

Postby jeffysdad » Sun Apr 15, 2012 2:53 pm

I have the cards I use set up for autopay. On the due date the last statement balance is deducted from my checking account. Don't even have to think about it.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests