Orchard Bank statement

[Anonymous]

OK, so I just saw my statement online, and the amount due is $64 ($49 is the annual fee) and the due date is 12/22.  When precisely should I pay this online and should I PIF or leave a small balance that is less that 9% of the $300 CL?  I just don't have this down yet folks - thanks for your help.

[heirophant]

Always PIF for any HSBC account.  This is the only strategy that will guarantee automatic CLI's on their accounts.  I know some people have problems with their Orchard Bank account, but I have none.  I have had mine for about a year and a half.  Faithfully, every six months they have given me a CLI.  They are just trying to tempt me to keep a balance.  That's good for me and bad for them.

[Anonymous]

And how far in advance of the due date would they like to see the PIF?

[heirophant]

Well, I'm a bit **bleep** about it, so every time they notify me a statement is ready, I pay.  But, I would imagine if you just PIF by the due date, the same holds true.

[heirophant]

Wow, I didn't imagine they would bleep a word used in everyday conversation.  Well the word does describe back quarters, so you interpret.

[Anonymous]

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heirophant wrote:

Wow, I didn't imagine they would bleep a word used in everyday conversation.  Well the word does describe back quarters, so you interpret.

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I'm sure it was a word bleeped by the software.  happens to me all the time.  Even when we discuss fine literature such as Moby Richard.

To the OPs question, if you PIF schedule it to post on the due date will work as well as any other tie before the due date, jsut don't be late.

[haulingthescoreup]

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@heirophant wrote:

Wow, I didn't imagine they would bleep a word used in everyday conversation. Well the word does describe back quarters, so you interpret.

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You might not have been here yet when we had to start talking about Herman Melville's great novel, Moby Richard.

Anyway, OP, HSBC has a weird reporting system --hard to figure out their reporting dates. But with most cards, you have to pay it down/ off BEFORE the statement date, because that's the figure (and the date) that they report. I've seen posts lately about some HSBC cards always reporting the highest balance, even when you pay it off immediately. You might want to go easy on it, never putting more than $25 on it until you see how they work it.

edit: I defer to Brammy, who has successfully wrestled HSBC cards and knows her Stuff!

Message Edited by haulingthescoreup on 11-28-2007 06:04 PM

[Anonymous]

I have an HSBC card.  When the statemenet falls, immediately go out and schedule it to be deducted on the due date.  If you are uncomfortble with that, py the min on the statement date and schedule the rest on the due date. Its what I used to do but now have too many cards to sched double payments.