subject: Credit Card Tip: Keep Track of Your Pending Transactions [print this page] Credit Card Tip: Keep Track of Your Pending Transactions
Most of the time people do not keep track of the pending credit card transactions. We all tend to have that "swipe and forget" attitude. This attitude is understandable, given that we do not really need to keep track of what happens when you use your card each and every time. For example, if you buy groceries using your credit card, and the transaction goes through, you don't really have to check whether the transaction is still pending or not, after all the supermarket will immediately inform you if there were any problems and will ask you for another card, or at least to pay in cash. However, not all transactions using credit cards are straight purchases. In such cases, the transactions take some time to complete, and are thus marked as pending transactions until the processing is over.
Pending transactions only have two results. They are either denied, in which case nothing is charged on your card in the end, or they are approved or "go through", in which case the amount previously indicated as pending transaction is simply added to your credit card balance. Since the fate of any transaction that has to be processed is uncertain, it makes sense to keep track of your pending transactions for the following reasons:
1. To know how things went - If you do not keep track of how things went, you might end up expecting to get the product you bought online to arrive at a certain date, only to find out when you already badly need it and have run out of time, that the transaction actually did not go through! This is also equally important if the transaction pertains to paying off some important bill, because you might have your services cut off or get penalised for non-payment because you did not realise that the transaction did not go through.
2. To keep track of your credit limit - You might think that a transaction did not go through and end up overcharging your card, or do the opposite, which is hold off buying something you really want, thinking a previous transaction that actually did not go through has been charged on the account.
Keeping track of your pending transactions is actually pretty easy. You can always call your card's customer hotline, or check your credit online. Note though that not all online credit card facilities reflect the pending transactions, or any recent credit card transactions for that matter. If all you can see online is your credit card balance, call customer service to inquire if this feature is available for your credit card.
