When your money's (temporarily) not yours.
You guessed it!
I'm on my soap box!
"What's the deal this time?" you ask?
Someone borrowed money from me without asking if they could borrow money from me and they're not giving it back in a timely manner.
Yes, some people would call this theft. But the credit card companies who back our debit cards call it an "authorization hold".
Which is fine and reasonable in theory and well-executed practice.
But this is one of those instances where I think we fell through the cracks and are left holding the yucky end of the stick.
You see, husband needed gas on Tuesday, and since we had the means to buy gas, Husband went to SamsClub to get gas. This is part of our normal routine. There is no problem here.
When Husband puts his card in the gas pump, Visa checks to see if we have $125 in our account and they place a hold on it so that they can verify that we have the funds to pay for the fuel we pump into our car. Though I feel $125 is a bit excessive, I'm okay with this because I'm a logical person who can understand that businesses have to cover themselves. (By the way, different cards have different hold amounts, it's not up to the gas stations how much is held, it's up to your card company.)
This also isn't typically a problem because at the end of the say SamsClub submits their charges to our bank, which they did, and then Visa releases the $125 hold on our account...which they didn't.
They didn't do it on Wednesday either. So four days later, we've not only paid $46.14 for the gas we purchased, but Visa is still holding $125 from our account and not allowing us to spend that either.
Which is making me a bit irritable because it's Black Friday and...well, I had other plans for my money today. So thank you Visa (and I mean that as sarcastically as possible), the icing on the cake is that if it was your money I was borrowing, you'd charge me 13.5% interest plus any applicable fees.
Ashley is a thirty-something wife and mother of two boys. She enjoys spending time with her family, as well as reading and decorating their home. Her blogging adventures began in 2006 as a single mother and have carried on through marriage and a new life with a husband, a ten-year-old, and an infant.