What is a Credit Hold? A Simple Explanation
When you add a deposit to bid on cars on our website, we don't actually take the money from your card. What we do is put a "hold" on that amount. Imagine it's like reserving a book at the library: the book is set aside for you, but it remains in the library. Similarly with CarsFromWest.com, we ensure the deposit amount is reserved, but we don't take your money.
How does it work?
You Add Deposit: You decide to bid and put some money as a deposit.
Click Next Step. Input credit card information and click Process.
Success! You’ve added deposit
Now, let's examine how this will appear on your card statement:
On your card statement, you'll notice there's no actual charge, just an authorization. It will show as "Pending.”
We Hold, Not Take: We ensure the amount is available on your card, but we don't deduct it. This is the "hold.”
7 Days to Bid: You have 7 days to bid on cars using this deposit on our website.
After 7 Days:
- If You Win: The deposit will be charged, and you'll see it on your statement as a credit transaction.
- If You Don't Win: The hold will be automatically released. It'll vanish from your statement, as though it was never there.
If you do not want to bid at all, you can Cancel hold any time by clicking Request refund. It will be immediately released.
Why don't I see a refund?
Since we didn't take the money, there's no "refund" to give back. When the hold is released, it's like the book going back on the shelf at the library. Your card just goes back to how it was before the hold.
Remember: Holds allow you to bid without any concerns. It's a FREE and convenient method to enjoy auctions without any complications.