April 28, 2014
The payment shows up on the Visa account as an over-payment. I then proceed to transfer the extra funds from Visa to the credit line (About $7500) and it got declined. I then called the customer service number who told me that they couldn't access it either and asked me to call back regarding the issue because the visa department was not open yet.
It's this part that confuses me. Why did you overpay the Visa in the first place? Why not do two separate payments, one to the Visa and one to the Line of Credit?
If I understand it, you essentially stored money on your Visa so that when you paid your LoC with the Visa, it would net the Visa balance to 0?
I assume it makes sense due to credit limits or points or something. But I do understand why Visa flagged it (especially since the original payment came from a different institution).
That said, they need to give you your money, one way or another - either by refunding it to you or releasing it.
However - dealing with banks can be very frustrating. They have a lot of power to hold your money while "investigating" things.