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15 Feb 2010
For the past couple of months, I've been trying an experiment in which I deposit "payment checks" from my credit card in my savings account, then pay off the account when the bill comes so I collect the savings interest. But not any more.
On Feb 4th, I paid the balance from last time, and on Feb 5th, Capital One's web site said my balance was zero and I had lots of credit. So on the 8th, the next time I was at the bank, I deposited this month's payment check. On the 11th Capital One bounced it. Huh?
When I finally got through to them today, I discovered that merely because I have paid off my account, and they say I have a zero balance and a large credit limit, that doesn't mean I really have a large credit limit. Evidently there is a secret seven day delay until they believe that I've paid them. On the phone, I asked repeatedly if the information on the web site is wrong, how am I supposed to know what's actually available, but the droid on the other end was unable to grasp the concept that what was on her screen was not the reality for the rest of the world. I have other credit cards, so this one is history.
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