Re: Hold on Funds in account

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Article #139655

#139655

From: Rick Walker
Date: Sat, 06 Jun 2009 22:03

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"Peter" wrote:

> It's credit, not money

It's credit you don't have access to then.  Once they hold it you can't 
touch it.  It's so much easier to just debit the gas and it's done - your 
bank account reflects the transaction when you get home.

That's another reason I hate writing cheques; I can balance a cheque book, 
but there always used to be someone who'd wait weeks to cash the cheque.

> They don't actualy *have* the money OR credit.  Pre authorization does not 
> transfer any money to the company who pre authorized it.

But if you didn't have enough credit left to preauthorize the transaction, 
you'd be SOL, wouldn't you?  I mean, without some kind of extension from the 
CC company how would you preauthorize $100 dollars with only $25 dollars 
worth of credit left on your CC?

    - Rick

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From: "Rick Walker" <RW@WR.com>
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Subject: Re: Hold on Funds in account
Date: Sat, 6 Jun 2009 19:03:33 -0300
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