Authorization Date

Using a credit card is such an everyday process that it seems rote. In fact, it sets in motion a relatively complicated process. Basically, there is a threeway transaction (not involving a hot tub) underway:

When you swipe, 1) you get something from the seller; 2) the seller gets paid from the credit card company; 3) the credit card company gets repaid by you. This process takes place over a number of weeks (if not longer), starting with the transaction initially getting approved and ending with you paying off the credit card debt.

The first key marker of this path is the authorization date. This is the moment when the credit card company approves the transaction, letting the seller know that it's safe to give you whatever it is you're buying.