Date:         Thu, 5 Jan 2012 13:04:11 -0500
Reply-To:     David Beierl <dbeierl@ATTGLOBAL.NET>
Sender:       Vanagon Mailing List <vanagon@gerry.vanagon.com>
From:         David Beierl <dbeierl@ATTGLOBAL.NET>
Subject:      Re: $4 inverter deal from JC Whitney with free shipping
Comments: To: Larry Alofs <lalofs@GMAIL.COM>
In-Reply-To:  <CA+r=JhpiUt5jrDO=AyvZu2H0jCQNz8qOJH_inViKBTsAMUnGKg@mail.g
              mail.com>
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At 07:11 AM 1/5/2012, Larry Alofs wrote:
>Likewise.
>   I want to know what it means that they have placed a "hold" on my
>credit card account.

Also known as authorization or preauthorization.

Means they've reserved a certain amount of money which you haven't
actually paid yet but which is no longer available to you as
credit.  They're assuring themselves that when (if) they do come to
charge you, the necessary amount of credit will still be available so
the actual charge won't be refused.

A normal procedure that happens every time you charge something,
because at minimum the hold goes on when you make your purchase, but
the merchant doesn't actually collect the funds until the end of the
day when they receive all the funds from one card company as a lump sum.

If the actual transfer of funds never happens, the hold expires after
a period ranging from 1-30 days, according to this:
http://en.wikipedia.org/wiki/Authorization_hold

Yours,
David