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I recently got a credit card with PenFed and I'm not understanding this transaction discrepancy. I had a charge in the amount of 1024.40 on Aug 11 from Sixt but it got refunded a couple of days later and i saw the credit in my transaction history. I thought i was done with it until I saw a new charge on my statement for the same amount, right before my statement closed in Sept. Penfed is telling me that the merchant took over a month to actually charge my credit card. I contacted the merchant and their response to me didn't make much sense but apparently there wasn't any mistake. The only place I can see the credit now is on my Aug statement but i'm not seeing any charge from Sixt for that month. I'm also no longer seeing this credit in my transaction history and the Penfed supervisor I spoke with opened an IT ticket. Apparently they have a lot of issues like this but he wasn't seeing any discrepancy on his end! I'm very suspicious of this transaction now and this bank in general. HOW CAN A BANK'S SYSTEM SHOW THIS KIND OF DISCREPANCY?? Credits and debits should clearly reflect in both the transaction history AND statement. I have never heard of a bank that cannot properly display customer's transactions because of "common systems issues". I'm very curious to know if this is a common thing people have experienced and your thoughts on this.
Don't know what to tell you. Banks have their individual methods for displaying and processing transactions. Was the initial cc charge legitimate or bogus? Was there a mistake in the order? Can you verify that your money was actually refunded?
FWIW, once in a while when I've experienced some sort of glitch with a cc purchase the timeline for the corrected transaction as displayed on the customer website portal or snail mail paper statement (does anyone still get those?) doesn't always mesh up perfectly, especially if it occurs close to the end of a billing/statement cycle. Sometimes there's a lag in posting dates even though the transaction itself went OK. In the end, what matters is that the bank has reconciled the account correctly, not what date something shows up on.
Looks like the first image shows a charge transacted on 8/12, but the charge came thru on 9/20. The third image shows a credit dated back to 8/12 for the same amount. So it seems you were charged the correct amount and credited back the same amount. I don't see a problem, except in the lag time of the actual charge being on 9/20. Who was responsible for that lag time doesn't really matter. The merchant said there was no mistake, and he could be right. it could be that in their normal business routine, sometimes it takes a month for a charge to come through, especially if it's a small business.
If it was the credit cards fault that the charge didn't come through for over a month, you might want to rethink whether you want to use that card, Or at least keep a close eye on it. I looked penfed up. it's a credit union, so it may take longer for them to process transactions.
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