02-24-2020 03:13 PM
I have been a an Elite Plus member for a year or two and until just this past month had no issue with either Best Buy or Citibank (manager for BB card).
First, understand I never carry a balance and pay off any existing balance within days of making a charge.
Just this past month Citibank has accepted payment transfer from the same bank I have used for years and it gets posted as received, however they reduce my available credit by the payment and keep it that way for weeks
My balance shows zero, but available credit is reduced. If I were to make a substantial purchase it could trigger a high usage on my account which impacts my credit rating.
Following is the crap I just received via message from Citibank:
"We received your inquiry regarding your available credit. Some payments
will be placed in a payment hold or validation process. A payment hold
means we will withhold an equal amount of available credit for 15-22
days until the payment clears the validation process. We will release
the hold once the payment has been validated. We may be able to make
some of the funds available sooner, however you will need to contact
Customer Service at the number located at the bottom of any Account
I believe this is crap and actually hurts Best Buy. Granted the Best Buy credit line is in excess of $5K which should cover anything I might purchase from Best Buy, however the funds transfer within hours from my bank and I believe this is some trick by Citibank to impact my excellent credit rating (825+).
At this point I really don't know what to do other than just go back to using my Bank of America, Chase, or Capital One account as they all generate rewards or cash back and have much higher limits. I am beginning to mistrust Citibank and only wish I could somehow get a message thru to Best Buy. As it stands, in protest I have been shopping at Newegg and Microcenter.
Best Buy is losing business with a good paying customer due to some tricky crap being pulled by Citibank.
Sorry Best Buy, but after I cash in the 6,300 points I have right now it may just be time for good bye.
02-24-2020 03:42 PM
Welcome to the Best Buy Community forums, and thank you for being an Elite Plus My Best Buy member. I work very hard to keep my credit score high, so I can understand how important this is to you, especially with that exceptionally high score you have.
That email you received from Citi is accurate. Payments can take some time to process and verify, so your available credit may be impacted for a couple weeks. Having that credit temporarily unavailable should not meaningfully impact your credit score, however.
The advice in that message to call Citi directly is your best next move to see if there is any way to get that pending time back down to where it used to be. Their number is (885) 574-1301.
In the meantime, I appreciate your feedback on this. If there's anything further I can assist with, please let me know.
02-25-2020 07:06 AM
Thanks for the quick reply. While I appreciate your explanation, I did contact CitiBank directly and was not given any reason for the delay in updating the credit limit.
I contacted them by phone twice over the course of three days. First time the gentleman could not speak clear English and did not understand my question. On my second call the woman spoke clear English and apologized for the issue, offering to give the payment back. I told her all I wanted was have the account balance align with credit line.
I may call them back today (seem to get English speaking people during normal working hours).
It will be my final try since there are so many other stores like Best Buy and I don't need the card anyway.
02-25-2020 10:10 AM
Hello again, Bill,
I can certainly understand the frustration in being unable to get a good explanation of the credit limit issue. Hopefully your contact today provides a sufficient explanation of the cause. We’d certainly hate to lose your business.
Should you not, please send us a private message with your full name, email address, phone number, and your current mailing address. With that, we can try to reach out to Citibank on your behalf, and see if we can get an explanation for you.
You can send us a private message by clicking on the button across from my signature on this post.
07-21-2020 08:23 AM
I'm having the same issue, this is ridiculous and I've never seen this done by any other credit card company or retail card. I really believe that the 10 to 15 days hold period along with the low credit limit is a gimmick to keep responsible cardholders like us from taking advantage of the cashback rewards. It is definitely not to "wait until the payment clears", because as soon as that money is out of my checking account, the payment has cleared and it is not coming back. I don't see any other reason and it is shady.
07-21-2020 09:08 AM
I finally gave up, although I still have and use the card as I purchase items on occasion from Best Buy and use the points.
There is some sort of scam going on with Citibank, however I ran out of time and patience to chase it down. I spoke with my bank and they basically told me "waiting for funds to clear" was a line of crap.
I really don't understand the sense in delayed posting of payments to available credit line as this would actually hurt Best Buy more than the customer.