Barclay card Long payment hold no reason fraudulent holding of funds to make money on interest horrible customer service Internet Nationwide

I experienced the same thing with this credit card only they were holding onto my checks and not procesing them until 12:01 then charging me a late fee and jerking up the interest rate.  I have the cancelld checks and have confronted them with the fact.

They still refuse to lower the rate.  I cancelled the card and quit sending payments in the mail.  Now I only make payments over the phone, they cannot dispute or hold those payments because I always write my confirmation number.  They are one of the worst CC I've ever seen.

 You do not understand how credit works.  THen with the fact that you are compaing this card to CreditOne and First Premier tells me that you have either no credit or have had some serious credit issues in the past.

Barclaycard is the only one time and time again to take the payment immediately from your bank account and have your money in their hand but never make the payment available earlier then 7 days.

- First of all remember that a credit card is NOT your money, it is an amount of money that the company is allowing you to borrrow.  When you make a payment you are just paying back money you have previously borrowed.  A company has the right then to say when they will allow you to borrow additional funds. 

As long as they credit the payment on the day(or the next business day if it is after the cut-off time) there is nothing wrong with them imposing a waiting period before they allow you to access THEIR money again. 

Now, as a side note if you are doing proper account management it should NOT matter if they hold the funds or not.  As a general rule the people with the best credit never use more than 30% of their credit line over all of their cards with no single card being over 50% at any time.  Anytime you get above 80% you are considered "maxed out" which is seen as a negative.  Now, of course you are probably going to say well they give me some low credit limit and it is impossible to not go above that amount...WRONG they are not forcing you to use the card that is 100% your choice.  You just need to put things that cost less on this card to build your history.

You must live within your means. So if you have multiple credit cards there is no reason  you need to be over the 30%, then even if they hold it for 7 days it doesn't effect you.