I know I will get bashed

[Anonymous]

But I need to vent. I have had a horrible week. So last night I decided I would treat myself to a iPhone. I paid off my Apple card on Monday just in case I wanted to do this (yes I keep balances on my card to help with my credit score. I make my payments on time). Well I get to the cell provider store, get everything squared away and what happens? My card is decline. Why? I dunno. I should have $500 available according to my account. So I call. The stupid credit card bank put a hold for over  half of my available balance on my card just in case my bank decides to reverse my payment. So I only have $200 available to me. WTH?!?! So I make a payment. My account says I have my full credit line available to me. But I can only charge $200 because the credit company put a hold on my account. I have never had anything like that happen before. I have never heard of a credit card company pulling such BS. I am seriously debating just canceling my card. That is ridiculous.

[karlie2]

How? If you have no balance how can canceling your card negatively affect your credit score?

Quoting PEEK05:

Canceling your card, even with no balance, will take a hit on your credit score.

[1plustwinsmommy]

I have seen gas station pumps with notes that they may put a $100-200 hold on your account. I'm not sure of the reasoning behind it.

[PEEK05]

Longevity it just as important as good standing.

Quoting karlie2:

How? If you have no balance how can canceling your card negatively affect your credit score?

Quoting PEEK05:

Canceling your card, even with no balance, will take a hit on your credit score.

[maggie268]

I would call the credit card company... they may be waiting a few days to make sure the payment goes through to give you your full credit line. & don't worry about being bashed, who hasn't bought something on credit at one point or another!?!

[1plustwinsmommy]

Because you no longer have that amount available as credit. Example- you have a card that you can charge $2000 on. You close that account. Now you no longer have that credit available to you.

Quoting karlie2:

How? If you have no balance how can canceling your card negatively affect your credit score?

Quoting PEEK05:

Canceling your card, even with no balance, will take a hit on your credit score.

[P.V.Hawkwind]

ok

[goodmama85]

Don't worry you won't get bashed unless your using a EBT card.

[karlie2]

So if you replace the card with a different one with the same credit limit does that correct your score?
Just curious. We change cards depending on the rewards they offer. We never carry a balance though.

[Anonymous - Original Poster]

I did. They say the credit card bank puts a hold for at least half of your payment now on your account for 1 week. There is no way around it. So despite the fact that my account says I have my full credit line available I really don't because they put a hold on it. It won't clear until Monday...at the earliest.

Quoting maggie268:

I would call the credit card company... they may be waiting a few days to make sure the payment goes through to give you your full credit line. & don't worry about being bashed, who hasn't bought something on credit at one point or another!?!

             

[Jenny_Penny89]

I want an iphone. I have a DROID.... sorry about your credit card.