A Pre-Authorization is a hold or "suspension" placed on a set amount of money in your account. This money is still in your account, but we are asking the bank to put some money in a type of envelope to ensure we are able to charge you the appropriate amount. For more information about this and how it works checkout Stripes explanation of a Pre-Authorization
*PLEASE NOTE: If you chose not to charge anything to your folio, we will still be pre-authorizing your card. Once onboard, you can choose to pay with a different card or not purchase anything with your folio, in which the full amount will be released back to your regular account.