Help! I just got a notice from HSBC that they were closing my credit card because of something on my credit report. I had a 30-day late on another CC I closed months ago. Do I have any recourse? Any suggestions to prevent this? My credit score itself has risen steadily over the last six months. And I don't want a closed CC to mar my score or take into a downward spiral!
Just out of curiosity, what cc did you have the 30 day late on, and how long ago was it?
Did you close the cc with a balance remaining on it?
I'd think that GW'ing the late would be in order. It may work...it may not, but always worth a shot.
As a side note, I've heard that ccc's that close an acct. due do lates on other cc's other than their own, is coming under careful observation by the government. And many ccc's have started disclosing they will not close/alter the terms of a cc to a user due to adverse info caused on a diffent cc. As far as I know WaMu was the latest to adopt that policy.
I had a 30-day late from Sep '07 on a Premier Bank card I closed b/c of their fee structure. I've since paid and I only have $45.00 of the $600 remaining on the Premier card to pay off. I've been doing large payments (more than triple the minimum amount) to both my Premier and HSBC Orchard card.
I tried a GW letter with Premier bank for the late and they said "no." I guess I could try again.
I'm just concerned about what this will do to my credit score. Like I said my Experian has gone up over 40 pts in the last three months alone to 582. I'm almost in the 600 club!
I think when it comes to Annual Renewal, I'll close my HSBC Cards too. They both are low $400 limits. Since then, I got my self couple of secured cards with good limits and also soon BOA should graduate me to unsecured. I think it is time, I drop my low end HSBC Cards soon.