People Media
Chandler,#2UPDATE Employee
Wed, December 31, 2008
When a transaction occurs using a credit card or gift card, the issuing bank may "hold" the balance as unavailable, even for transactions resulting in a decline. It can take several days before the financial institution removes the "hold" and makes the funds available again. In the case of credit cards, holds can even last up to 30 days. This can cause the cardholder to believe the merchant has charged them for a purchase that was in fact declined.