Direct Merchants Bank - HSBC HBSC timely reporting of credit card payment Internet

In the beginning you are saying that they take 21 days to process your credit card payment, then later you say it shows up one day after you submit the payment?  I think you are actually talking about two different things.

First if are submitting the payment from your bank, the company will never post the payment the same day you make it.  Depending on the bank and the company you are paying it can be anywhere from the next day to 5 days later.  So if HSBC is getting it the next day that is actually the soonest they can receive it.  If you are submitting your payment from HSBC they do not allow you to make the payment the same day, the earliest it will get posted is the next day.  I know that other HSBC cards believe allow a rush payment(same day) for an extra amount.

The second is the payment verification.  This is a Sub-Prime card and they can hold the funds for a certain amount of time to verify that they are not bad.  I know this makes no sense because it was an electronic transfer, it is just the way a lot of Sub-Prime cards try to reduce their risk.  However, they can not charge you additional interest or late fees because of this.  I think this is why you are seing the payment arrive at HSBC and then being "held" for a couple of weeks.   Remember that while holding it will not charge you fees if they still receive it late you will get late fees and interest because of that.