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How Long Does A Credit Card Payment Take To Process?

We all have waited for our credit card payment to process to see how close we are to maxing it out (I am a suspect of this). Sometimes it feels like it goes instantly, and other times you just wait to use it again to get those items in your cart online. So, how long does a credit card payment take to process?


Credit Card Processing

As you know, your credit card payments take time. Otherwise, you wouldn't be here reading this right now. But you do know that they take a couple of days to post on average, which you are absolutely correct. Accepting a credit card payment takes time, unlike other forms of payment. This is because a credit card payment has to go through more loopholes. 

When a credit card is used it must:

  •  Go through the payment processor to see if it's valid
  • Then it has to be verified by the bank
  • Determine if your credit card is able to afford the payment
  • Be cleared by the union or bank your credit card is from
  • Disperse payment
  • Lastly, post into your account

This process can be done faster or slower depending on many factors, such as when you made the payment, how many payments your union is already processing, and the contingencies with your credit card. One of the most important factors is the bank or union your card is from.


How Do Banks Affect Credit Card Processing?
In short, the bank you use differs the time they process the card payments and changes from bank to bank.

Discover: online payments before 5pm(EST) should post same day, anything after 5pm will post next day.

American Express: payments CAN take place instantly, but can take 24-36 hours to change balance and up to 4-5 days to post.

Bank Of America: Up to two business days

Citi: payments before midnight are credited same day and should affect balance next day- can take as long as up to two days to affect balance though. 

Capital One: payments made before 8pm(EST) Monday through Saturday are posted same day, anytime after 8pm will post next day. Payments made 8pm after Saturday will post on that upcoming Monday.

Chase: payments received by 8pm(EST) are credited same day, and transaction will post same day. Payments received between 8pm - 11:59pm posts that day and affects balance next day.


Does Debit or Credit Come Out Faster?

You can almost always expect a debit card payment to come out faster than a credit card one. Think of a debit card transaction being approved like this: If I have enough funds in my bank account to make a purchase, then the transaction is approved. If not, I do not have enough funds in my bank account to complete a purchase, then the transaction is denied. 

Hopefully, when it comes to the next time you're using your credit card to make a purchase, you won't stress as much anymore since you all have a better understanding of when it will affect your account. We've all been there where we used our card too many times. We thought we had more than less on it because our previous purchases weren't posted on the account yet. 

If you're interested in reading any more, blogs to learn more about credit cards, small businesses, or even some guides for your business- check out the blog!

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