Our credit card merchant (as with most others), uses a 'Capture and Authorize' system, which first checks to ensure the funds are available and then puts those funds in a “pending” state until the billing address verification process is completed. If there is a cancellation, the funds may remain in that pending state for 1-2 business days.
We do not have access to these funds at any point and this is not a permanent charge. The funds will be reverted back to you within a few business days.