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What does Orchard Bank report on the 30th?

Frequent Contributor

What does Orchard Bank report on the 30th?

Hi all, 

 

I know Orchard reports on the last day of the month. Does anyone know if they report your last statement balance or the balance on account at report time? I have tried to get an answer from them on this but all I get back is "We report all relevant information."

 

Thanks all!

 

CB


Starting Score: EQ 618 TU 585
Current Score: EQ 680 TU 698 EX 681 (lender pull 04/2010)
Goal Score: EQ 720 TU 720


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3 REPLIES
Established Contributor

Re: What does Orchard Bank report on the 30th?

They report the balance on the last day of the month.  It is definitely not the statement amount.  Mine usually updates on Experian between the 10th and the 20th and shows the account balance on the last day of the month.  Every once in a while they skip a month and don't report. 


Message Edited by manyquestions on 12-10-2009 10:27 AM
Moderator Emeritus

Re: What does Orchard Bank report on the 30th?

Ditto. They report the balance you had showing in their system as of the last biz day of the month.
Highlighted
Frequent Contributor

Re: What does Orchard Bank report on the 30th?

They report the actual balance as of the last day of the month.

 

I tested it about a year ago. I left exactly $2 as the balance on the last day, then PIF'ed it the next day. Sure enough, Orchard reported a $2 balance. I even got a Score Watch alert for a balance increase!

 

My statement date is about the 20th. I've let balances show, then PIF before the end of the month and Orchard reports 0 to the CRA's.

 

 

 

 

"Knowledge is of no value unless you put it into practice."- Anton Chekhov
4/11 TU 743 4/11 EQ 763