05-19-2010 03:23 AM
Hi. I have an orchard card 300/limit(24 bal). I made my payment on May 12, with the due date the 15th. I'm curious when the next bill will be because as of today,
the May 15 statement is still showing online. I have read that they report at the end of month, does this mean that I need to be careful with my balance til then?
Or do you think the statement will be cut shortly? I don't want to increase my balance, and have it show. Any experience would be appreciated.
05-19-2010 07:09 AM
I had Orchard once upon a time ago and it seems like their statement date was a few days to a week after the due date. Their statement date is consistent and easy to predict. If I recall correctly, they posted online when the next statement date would be. May be wrong on that though.
Yes, Orchard/HSBC will report the balance you carried on the last business day of the month and will often report that sometime the following month. If your due date just passed and you have $0 balance now, then it is OK to use again between now and the end of the month. If you want $0 to report, just make sure you pay them off right before the last business day of the month. BTW, Memorial Day is the 31st. I don't know how that'll play into their reporting. I'd personally assume that the last biz day is the Friday prior.
05-19-2010 09:45 AM
I was told that they recently changed the reporting dates and now the amount displaying on the day your statement is cut the amount that will report.
05-19-2010 03:32 PM
Thanks for the help. It's so confusing. I have my BOFA down pat, but Orchard is throwing me for a loop. I'm trying to make sure my util is low when reported to the CA's. Im sure I'll soon enough how they operate. Thanks again!
05-19-2010 03:36 PM
The main problem with HSBC/Orchard is heir CSRs are like playing Russian Roulette. Some are dead on with the information they provide, others are just clueless.