![]() How long pending transactions take to finally process and post to your account depends on a few different factors. If you notice any issues with your pending transaction, it may help to reach out to the merchant, as that is where the payment originates. You are still able to use your card normally while these payments process. Your account balance may or may not reflect the money spent in a pending transaction. Essentially, pending transactions mean the money has been committed to a specific purchase, but it’s still moving between accounts. It’s also common to see this when online shopping, as some merchants may hold off on processing the payment until your order has shipped, this includes international purchases too. There are multiple transactions that might appear as pending, such as after using your card to purchase gas at a pump or adding a tip at a restaurant. This happens when the credit card issuer has confirmed that you have the available balance to pay for the purchase but has not fully processed it yet. But what exactly does this mean, and how long do pending transactions usually take? What does pending transaction mean?Ī pending credit card transaction is a purchase or charge that hasn’t been fully processed. Pending transactions are charges still waiting to be fully posted to your account. ![]() That is to say, the remaining unpaid balance of the purchase on the day that you initially notified the seller is the only amount you can withhold payment on.If you’re checking your credit card transactions regularly, you may have noticed some of the charges are labeled as pending. You can only withhold payment on the balance of the purchase that is unpaid.You can only withhold payment if it is over $50 or if the sale took place in your home state or within 100 miles (160 km) of your home address.What this means is that if no credit was extended (like if you use overdraft or cash advance feature), you will not be able to withhold payments. You can only withhold payments if you used your credit card as a credit card.If the card is used for business purposes, these benefits do not apply. That is to say, if you are using your card to make a personal, family, or household purchase. You can only withhold payments for consumer transactions.There are however some limitations in which you will not be able to withhold. The above steps should be sufficient to allow to withhold payment on your card. The quicker you act the better your odds of success. ![]() The Fair Credit Card Billing act states that you have 60 days to take action after you received the bill for the disputed amount. Make sure to retain a copy of the letter. As well, send a copy of this letter to the merchant to ensure they are aware that you have contacted the credit card company about the matter. If you do so, make sure to follow up with a letter. ![]() It is possible to conduct this by telephone.In your letter make sure to state your name, the card number, the name of the seller as it appears on the credit card statement, the date of purchase, the amount paid, and an explanation of your reason for withholding the purchase. If working out the situation with the merchant directly fails, it is essential to contact your credit card issuer to inform them of the matter and express your desire to withhold payment.
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