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25-12-2024

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Understanding Chase Bank's "Hold, Rel, Mem" Credit Card Transactions

Chase Bank, a major financial institution, uses internal codes to track various credit card transactions. While not publicly documented, codes like "Hold," "Rel," and "Mem" often appear on Chase cardholder statements, causing confusion. This article clarifies the meaning of these codes and what they signify for your account.

What do "Hold," "Rel," and "Mem" mean on my Chase credit card statement?

These codes represent temporary holds and releases related to your credit card transactions:

• Hold: A "Hold" signifies that a merchant has temporarily placed a hold on a specific amount of your available credit. This is common for:

  • Hotel reservations: Hotels often place a hold to cover potential incidentals during your stay.
  • Car rentals: Similar to hotels, rental car companies use holds to cover potential damages or extra charges.
  • Large purchases: Some merchants may place a hold for large purchases as a precautionary measure.
  • Reservations requiring pre-authorization: Restaurants or other businesses might put a hold to ensure sufficient funds are available.

  The hold doesn't mean the funds are immediately charged; it simply reserves that credit until the transaction is finalized. The amount held is usually unavailable for other spending until released.

• Rel: "Rel" stands for "Release." This indicates that the previously placed hold has been released, and the reserved credit is now available again for use. You'll see this after a hotel stay, car rental return, or when a pre-authorization expires without further charges.

• Mem: "Mem" likely represents a "Memorandum" or similar internal note. It doesn't directly reflect a charge or hold but may indicate a pending transaction or internal action regarding your account. This code often disappears after a few days, as it is an interim entry.

How long do these holds typically last?

The duration of a hold varies depending on the merchant and the type of transaction. It can range from a few hours to several days, sometimes even a week or longer, especially for pre-authorizations that expire and need further processing. Hotel and rental car holds are typically released within a few business days after check-out or return.

What if the hold isn't released?

If a hold remains on your account for an unusually long time after the related transaction has concluded (e.g., several weeks after a hotel stay), contact Chase customer service immediately. They can investigate the issue and ensure the hold is properly removed.

Important Considerations:

• Available Credit: Remember that while a hold is in place, the reserved amount is not available for other purchases, even if you have sufficient credit available beyond the hold.
• Dispute Resolution: If you believe a hold is incorrect or unauthorized, contact Chase and the merchant involved to resolve the issue. Keep records of your transactions and communications.
• Contact Chase: For any questions or concerns regarding these codes or any transactions on your Chase credit card statement, don't hesitate to contact Chase customer support.

Understanding these codes helps clarify potential temporary fluctuations in your available credit. By knowing what they represent, you can avoid unnecessary worry and efficiently manage your Chase credit card account. Remember to always monitor your statement and contact customer service if you have any doubts or discrepancies.