Reader and frequent contributor curmudgeon wrote it to let us know about something Chase sometimes does called ‘Float Pay’. They opened a new Chase Ink card, reached the credit limit, paid the card off in full but the card wasn’t showing any available credit limit. When Chase was contacted by curmudgeon they were told this was due to “Float Pay”:
Dear Thank you for contacting us regarding your Chase Ink Business Cash® Card. I will be more than happy to review your inquiry regarding a Float Pay. I understand how important this is. <name>, your payment of $xxxx.xx made on August 20, 2025 was held from the available credit to allow time for the payment to clear your bank account. The payment amount will show as effective the day it was received and will be applied to your available credit for immediate use after today, August 26, 2025. Float Pay applies a payment to your account, but it doesn’t release a corresponding amount of available credit until we confirm there are sufficient funds to cover the payment. Here’s more information about Float Pay: – A payment is applied to your account balance as of the day of receipt, but it doesn’t instantly reflect in the account’s available credit. – Interest charges stop accruing for the payment amount. – Funds are released within 7 days. – There are a number of reasons a payment can be floated – some are complex and proprietary. – Customers cannot opt out of Float Pay. We’re sorry for the inconvenience this may have caused. If you have other questions about Float Pay, please call us anytime at the number on the back of your card; we accept operator relay calls. We appreciate you being a Chase customer. Thank you
From my research this doesn’t seem to be limited to new cardholders, but existing cardholders as well when the spend is higher than previous. It also doesn’t seem to happen if it’s an internal Chase transfer. Not a huge deal, just thought it was somewhat interesting.
