WHC credit card holds on TBR (1.Viewing)

MapleDots

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I have a credit card with a 75k limit and I use this card for all kinds of business purposes. I traditionally have to pay this card down twice a month to keep it from going over the limit. On any given month I can put up to 120k on this card so I always have to keep an eye on the balance.


That said the hold WHC (pre authorize) that gets placed on the card can be significant if you participate on TBR every week.
I placed some pretty high bids today and don't like the fact that those funds are tied up on my credit card while I wait for the outcome.


[notify]FM[/notify] when does WHC release the funds, I know that takes a few days to hit the card.



Secondly...


WHC should have a reputation system where once someone is verified, and they know they don't default in payment, that this hold is no longer required.


I guess I could use a different credit card but this is my business card and I get 2% cash back so I'm not keen on using a different one for TBR.
 
This was the response i got from Frank regarding pre authorizations:
On your first backorders your card might be authorized for the initial bid amounts you are placing bids for, once you have paid backorders this is no longer the case. While we authorize the card and release the authorization right away, I've learned that this does not always take effect immediately, it depends on the card and card issuer. This is the current state of things, I have asked development if this is easy to change, but considering how the authorization works this may not be straight forward to do.
Click to expand...
 
MapleDots said:
I have a credit card with a 75k limit and I use this card for all kinds of business purposes. I traditionally have to pay this card down twice a month to keep it from going over the limit. On any given month I can put up to 120k on this card so I always have to keep an eye on the balance.
Click to expand...

My card has a monthly limit of $1000 if that makes you feel any better... :D

I pay my card off weekly and have never been late for a payment, yet I always get declined for a limit raise. Sometimes I wonder if it has to do with my age? Is it time to make the switch to another bank?

Anyway, I'd love to see Interac e-Transfer added to the list of payment methods offered by WHC. Wishful thinking and I'm not even sure if it's possible but it would make my life a hell of a lot easier!
 
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