Beware the 'Hold' on Your Credit Card
When I called the hotel, someone named Kelly told me that, "When you checked out, the funds should have been returned to you," noting that "we're not holding the funds -- it's the bank."
Kelly's supervisor, Tia, echoed that line of reasoning: "Once you've checked out with us, that very night, we release the funds." She then said, "It is up to the bank as to how long it takes to release the funds back to you," adding that "usually, this only happens with debit cards."
AmEx spokeswoman Mona Hamouly said the holds are a "way of managing risk," and that they are generally removed as soon as the final charge has been settled.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV