Credit One Bank Excessive Payment Holds Las Vegas, Nevada

I've discovered that Credit One will hold your ECH check payment for more than a week before posting to your account. This is a definite problem if you travel often (as I do) and count on your card for car rentals, hotels, etc.

I contacted the bank and asked if there was a different way to pay off the balance - debit/check card, wire transfer, etc. - that would not result in the unusually long hold. I was told that this is a standard policy which was randomly enforced and there was no way to avoid it. In my particular case, I made the payment on a Friday. The payment cleared my bank account on Monday and the payment (which created a zero balance on my account) was not scheduled to post until the following Saturday. Had I had a payment due in that time frame, I would have incurred late payment fees. It's important to note here that I have only had the card for a few months and I have made no late payments or done anything else which would merit such treatment.

If you decide to go with a Credit One Bank card, keep this in mind and plan your payments accordingly.