The Consumerist recently reported a story about a man who had applied for a Best Buy credit card and, immediately after receiving the card, bought a number of different electronics items to the tune of $3000. He paid off almost the entire amount using Best Buy’s online payment service. The money was directly debited from his account.
Just a few weeks later, he went to use the card again, but it was declined this time. He called the card company, and while the payment was posted to his account, they refused to adjust the credit available because they put a hold on any electronic payments made to the account for 11 days to make sure the payment comes through. Even 15 days later, they wouldnt release the hold on his account.
Best Buy told him if hed used their phone system, it would have cleared within two days. If hed used a check, it would have cleared by the time 15 days had passed. He had to buy his new iPad3 at another store as a result of the hassle.