How long can a company take for a credit charge to go through on your card?
Normally everything we buy goes through our account in a few days but this one charge didn't go through for 13 days and by that time we didn't have the money in the account and we had to pay a fee for the charge.
EDIT-I know it's our fault for not making sure we had the money in the account but we needed to make a car repair and that would put the account in the negative and completely forgot about this one charge that we assumed had already hit the account and showed up after the credit for the car repair went through.
Full Version: How long on credit charges?
to my knowledge there's no limit
THERE IS A TIME LIMIT TO COLLECT ON A SALE PURCHASE (submit the charge)
Not gonna' do the HOMEWORK right now but I think it is 30 days max
or
THEY CAN'T COLLECT
It is in the 100+ pages of the VISA terms
Not gonna' do the HOMEWORK right now but I think it is 30 days max
or
THEY CAN'T COLLECT
It is in the 100+ pages of the VISA terms
QUOTE(ammorgan @ Apr 12 2007, 06:42 PM) 
How long can a company take for a credit charge to go through on your card?
Normally everything we buy goes through our account in a few days but this one charge didn't go through for 13 days and by that time we didn't have the money in the account and we had to pay a fee for the charge.
EDIT-I know it's our fault for not making sure we had the money in the account but we needed to make a car repair and that would put the account in the negative and completely forgot about this one charge that we assumed had already hit the account and showed up after the credit for the car repair went through.
Normally everything we buy goes through our account in a few days but this one charge didn't go through for 13 days and by that time we didn't have the money in the account and we had to pay a fee for the charge.
EDIT-I know it's our fault for not making sure we had the money in the account but we needed to make a car repair and that would put the account in the negative and completely forgot about this one charge that we assumed had already hit the account and showed up after the credit for the car repair went through.
Was this a retail purchase or was it mail/telephone/internet order? If it was retail, most acquirers recommend that batches be settled at least once per day. I'm not sure what the actual VISA/MC regs are. However, if it was a card-not-present transaction, they aren't allowed to charge you until they actually ship the merchandise... so if the item(s) were backordered or they had a processing delay, they couldn't charge you until they were actually shipping the item(s).
It was retail
30 DAYS PER VISA
LONGER THAN 30 DAYS MAY RESULT IN A CHARGEBACK
Why wait longer than 1 day anyway???
The sooner it gets charged...the sooner the merchant gets paid
BUT if it is a US MAIL ORDER and it is BACK-ORDERED it needs to wait till it is shipped
LONGER THAN 30 DAYS MAY RESULT IN A CHARGEBACK
Why wait longer than 1 day anyway???
The sooner it gets charged...the sooner the merchant gets paid
BUT if it is a US MAIL ORDER and it is BACK-ORDERED it needs to wait till it is shipped
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