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Question I have... My Debit Discover Card is still not here :(? Hoping for any comment. Second question of mine... Okay, so I just got a walmart card 3 months ago, I've already made a thousand in payments on my $800 card, as I've been PIF, I make two ACH payments, two weeks ago, they are telling me I got to wait another two weeks for it to credit to my avaiable credit limit, so it shows that I owe more since the limit left isn't correct, I can't use my actual money I should be able to... |
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That's a good question. I'm not sure what is the right answer. I'll do some research in Google and get back to you if I bump into an answer. You should email the people at Discover Card as they probably could give you help..
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Pay at the store or instead of ACH just use your bank's bill pay system to send them an e-payment...
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PAY AT THE STORE AT ANY REGISTER.
PROBLEM SOLVED. You get the. "AVAILABLE". Increased before you leave the register.. |
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Problem.
Bypassed. , not problem "solved".. The. Problem. Is the unnecessary and inexcusable delay in posting an. ACH. Payment. Not much different from the good old days when Providian would unnecessarily hold check payments and delay posting, for which they were severely punished.. This is 2010 - a customer should not need to travel to the store and pay in person just to get their payment posted in a timely fashion.. (Edit) Needed a little more color .... This post has been edited by. Revike. : 09 January 2010 - 10:07 PM.. |
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In today's information age it shouldn't have to be like that...
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So you going to solve your problem by paying (with Discover card) at the register???.
CASH...PAPER CHECK...DEBIT.. |
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Has the payment been applied to balance and is just not showing in your available credit? As long as it is applied to balance owed there is really nothing you can do but wait. They don't HAVE to give it back to you in available credit because it is "their" money. I just went thru this with Target as well. It's effectively like a temporary CLD. Also, check your terms and see if there is any notice about this in there. In mine, it's stated that they can "hold" the payment from available credit for so many business days for any payment amount over $200 unless it was cash paid in the store.
Although I don't like it, I understand it and can't really fault them for it... |
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Walmart is floating your money........
Basically using your funds to earn interest in their bank account while charging you interest IMHO. If they can do that to say 5 million people that have cards, that's a nice piece of change they just made. $25.00 x 5 million customers. Every month floating that allot of interest made. They are earning interest. BOTH. Ways because you may or may not be paying (with Discover card) the balance off in full so they make their extortion interest rate of 28% on whatever balance you carry or whatever it is...I know it's not a decent rate this is Walmart we are talking about here......plus the money they hold on the float side before they credit it back and make it available to you. As long as you don't default on the card they love this..... I would pay the balance in the store or use ACH to pay it as this would credit immediately or within a day.. Just my thoughts on this... |
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MY INCREASED.
"AVAILABLE". CREDIT LIMIT IS USABLE BEFORE I LEAVE THE REGISTER. (after my payment).. |
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Jeez.. take off the tin foil hat..
The payment is credited to his account immediately. They just don't release available credit until the payment has aged.. He's not paying (with Discover card) extra interest because of this... |
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Just because the.
PAYMENT. Does not show as a. LINE ITEM. That doesn't mean it is not going to ever show up. Give it a day or two (four of five max). Since the. "AVAILABLE". Is increased...that is proof they have the payment in their system.. |
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It seems quite obvious to me that treating payments received in the store differently than payments received in the mail or by ACH.
Is done solely as a method of manipulating the customer to come to the store. There is a presumption (probably accurate) that customers who make their payments in person are likely to make more frequent purchases than customers who make their payments by mail or online.. Payments made in the store are. Not. More secure than mailed/online payments. Walmart has the same ability to verify (or not verify) a check payment in the store as they do a mailed check payment.. As long as Walmart. Posts. The payment in a timely fashion, they are not benefiting from extra finance charges, and the delayed available credit is just an inconvenience. However, if they are delaying the. Posting. Of each payment in a timely manner, they are probably breaking the law.. I like how George skewers Barclays (in the Barclays thread) for their handling of multiple payments, but defends Walmart, even though both institutions are taking essentially identical actions ..... |
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No, it's a whole lot simpler than that..
ACH withdrawals made FROM your bank TO your creditor have to "clear" just like a paper check would. They are not guaranteed funds until the time period for ACH reversals has expired. Again just like paper checks, some creditors will post the payment to your account and make the funds available immediately, and others will wait until the ACH reversal window has tolled.. Putting aside my head-scratching as to why people still use ACH to have creditors "pull" payments from their bank accounts instead of just using their bank's free bill pay system (or changing banks if their bank doesn't offer free bill pay), when you send an electronic payment FROM your bank TO your creditor, they are considered guaranteed funds just like cash, a cashiers check or money order and posted to your account immediately, or close to it.. So, the solution is simple... Go to the store and pay cash at a register, send an electronic payment FROM your bank TO your creditor, or learn to live with the wait of an ACH... |
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If your reports are clean enough you could try to get a retail card that offers rewards and perhaps better service. But many card issuers use payment risk models that can lead to a delay in the available credit after a payment. GEMB/walmart are not alone in this.,..
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Why even use a Wally Card when there are NO built in bennies?? or has something changed???.
Just the fun of paying (with Discover card) higher interest if you are silly enough to revolve a balance.. Mines shows the famous $124.00 CL for inactive cards, they can close that piece of useless junk whenever they are ready it's been 2 or 3 yrs now... |
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Very good point. unless someone is merely rebuilding, this is the type of retail card that adds little to one's enjoyment of life...
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Dude I wanted this card for years, since I went BK7 in 2004 I got denied but yeah it was one of my first store cards, they gave me a nice limit off the bat $800, they do auto credit limit increases after 4 months so we will see, I'm trying to build my credit and it's working I got a ton of new accounts, I got to slow down now...
They have a nice grace period, and even offer no interest for 12 months on $299 or more, I've charged over $1200 on it, and got a balance of $400 which is 12 months no interest which I plan on paying (with Discover card) off in the next two months... where can you go wrong with this?. GE money bank has been very nice to me lately... |
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JUST IGNORE THE PEOPLE WHO HAVE AN UN-NATURAL.
FEAR. OF A CARD THEY DON'T EVEN USE or HAVE. This post has been edited by. GEORGE. : 12 January 2010 - 10:21 PM.. |
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As much as Wallyworld sucks, this is NOT a Wally issue...they did not issue the card nor are they (yet) the bank that handles the card..
Further, there IS a difference between delayed posting of payments and a delayed availability of said payment when using the card. One is impermissible, the other is simply frustrating..... |
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UNLESS YOU LIVE 50 MILES FROM THE NEAREST WALMART.
...how hard is it to pay at the register.. |
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...said the person who has an unnatural fear of driving to the ATM to get cash because it supposedly makes said cash "too expensive"...
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Huh? Cash, paper checks and debit cards? When did those become acceptable forms of payment?..
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How else are you going to pay your.
WALMART or SAMS Discover card BILL. At the register.. |
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KEEP UP THE.
HATE and BAIT. =========================. "IF" I actually needed. "CASH". Why would I drive out of my way when I can get it from. WALMART.. |
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I don't. I pay it through USAA's Bill Pay and it's over and done in 2 days, tops. No hold on funds and no need to carry around nasty, dirty cash. Yuck....
This post has been edited by. CreditBoyRoy. : 12 January 2010 - 11:34 PM.. |
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I HAVE.
NEVER. PAID A WALMART Discover card BILL AT WALMART WITH CASH. I don't have a debit card. DO THE MATH.. |
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GEORGE.
Can. You. Get. Cash. At. WalMart. With. No. Fee. To. Pay. Your. Walmart. Bill. ?.. |
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PAPER CHECK.
+ DEBIT. + CASH. - DEBIT. - CASH. DO THE MATH. FINAL ANSWER = PAPER CHECK. YES...I can get cash over purchase amount "IF" I want cash with my. WALMART CREDIT CARD. 100% FEE FREE.. |
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1) Can you pay your Walmart card bill at the register with a Debit Card?.
2) Checks who carries them they are sub-prime. You lose one and someone can empty out your entire account. 3) Can you take cash out on your Walmart card then us that to pay the minimum on your card?.. |
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Yep. I'm only answering this because I've paid both of my statements this way..
This post has been edited by. Karen_. : 12 January 2010 - 11:54 PM.. |
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Funny thing is I did ACH payments, and they are telling me it can take up to 3 weeks to clear, you got to be kidding me, they sure cleared my bank the first day.. fax it right..
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I liked paying (with Discover card) with checks because I've used so many, I'm well over 11,000 but checks are kinda crappy now days.. I debit everything....
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