When I booked through Expedia.com (flight only) I was charged on the day I made the booking.
However when I made hotel reservations, I wasn't charged or had any credit put on hold until the day that I checked into the hotel.
When I checked into the hotel they took the total cost of my stay and put an an extra hundred or so on hold, this was just to cover any damages etc that you may cause, but as soon as you check out, they take the hold off and you get that back, providing there are no damages of course.
This procedure also applies with car rentals.
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