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Wednesday, March 28, 2007

Before Due Date

Yesterday, I called HSBC Credit Card to confirm if my requested correction in my billing address has been made. They already corrected my office address, while my company name still bears an error.

Aside from that, I asked for options where I could do payments for my credit card, which is due yesterday. It has been a habit for me to pay my credit card on the due date itself. I have this mind set that instead of paying in advance; it could still earn interest from my bank account.

I was surprised to learn that in HSBC credit cards, due dates should be paid a day before, if you are not paying in HSBC banks. Most of my credit card payments are made through the bills payment facility of bancnetonline.com. And I did not have any problems with my other credit cards when I pay on the due date itself.

According to HSBC, I would incur penalty charges since they base their transactions on posting date and not on transaction date. Apparently, on other bill payments facility, it would be posted the next day. My only option is to request for the waiving of the penalties on my next billing statement.

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