Pending transactions

rhiwilliams11

Just a question I need a bit of advice on. Is there a time period credit cards have to accept payment for a product? I rented a car in June and July and payments were taken from my credit card and shown as pending, they then dropped off and were never claimed. Car went back 2 weeks ago and today I had both payments for June and July taken from my credit card. Just wondering if there is a time limit in when you pay for an item for the credit card company to take the payment. Thanks in advance! 

eskbanker

I've seen mention on here before of card payment authorisations being valid for six months, although am not sure of exactly where that would be formally specified in rules and regulations, etc.  However, even if the retailer hasn't claimed the payment during that time, reaching that limit would just mean that they'd need to contact you again to arrange settlement of the debt (which is enforceable for six years), i.e. it's not as if delayed payments are written off after weeks or months....

bengal-stripe

rhiwilliams11 said:

I rented a car in June and July and payments were taken from my credit card and shown as pending,...... Car went back 2 weeks ago and today I had both payments for June and July taken from my credit card.

Until the booking was completed and the car returned, the hire company couldn't have worked out the exact cost. The initial 'earmarked' amount was an estimate. You returned the car and the total due was worked out and charged within two weeks. Where is the delay?

Sandtree

6 years, assuming its in England/Wales, though it is considered good practice to raise the question of payment method with the customer if 6 months has passed.

born_again

rhiwilliams11 said:

Just a question I need a bit of advice on. Is there a time period credit cards have to accept payment for a product? I rented a car in June and July and payments were taken from my credit card and shown as pending, they then dropped off and were never claimed. Car went back 2 weeks ago and today I had both payments for June and July taken from my credit card. Just wondering if there is a time limit in when you pay for an item for the credit card company to take the payment. Thanks in advance! 

Well on Visa if they have not presented for payment in 6 months there is a chargeback right. But that depends on them using the original debit date. Often they do not, so no rights.
In legal terms  6 years.
Also car hire has a fantastic set of T/C that cover many things. So if they did take it with the original date and a chargeback was made (default win on these, as breech of regs). Expect car hire co to engage debt collectors to get their money back.