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How long till it reports and helps?

Contributor

How long till it reports and helps?

I applied for a HSBC cc today and was approved. How long does it usaully take to report and help fico score?

Thanks for any info!

Message 1 of 14
13 REPLIES
New Contributor

Re: How long till it reports and helps?

Good question. I would like to know the answer. I just got approved for a HSBC card yesterday! 
Message 2 of 14
Frequent Contributor

Re: How long till it reports and helps?

I had a HSBC card and it always reported the last day of the month. 

Starting Score: 744
Current Score: 744
Goal Score: 800


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Message 3 of 14
Contributor

Re: How long till it reports and helps?

 Are you saying it won't report till the end of the month on a NEW account?

Message 4 of 14
Valued Contributor

Re: How long till it reports and helps?

As to how long before it will help your report the answer is - it depends.

 

If you have a short thin history it will likely help right away. The first 2 or 3 cards usually raise your score slightly.

 

If you have an older history and/or a thicker file it will likely HURT your score.

 

If you are looking for the account to give you a positive tradeline and help overshadow some of your negative tradelines it will likely take 6 months at a minimum and more likely a year. By the way, the points you lost for the hard pull and a dip you take for new credit will go away at the 1 year mark.

 

Best of luck!

Message 5 of 14
Valued Member

Re: How long till it reports and helps?

FYI:  I received an HSBC card over a month ago and it hasn't shown up on my report yet.  I am going to call them tomorrow to see what the problem is.
Message 6 of 14
Contributor

Re: How long till it reports and helps?

did the hard pull of it show up and what credit report did it show up on?
Message 7 of 14
Valued Member

Re: How long till it reports and helps?

I applied for my card in late July, and before my card was even activated it was showing on my report.  Score jumped 12 points because of it.  I didn't know it was going to help me that soon Smiley Very Happy
Message 8 of 14
Contributor

Re: How long till it reports and helps?

HSBC is unlike other cards that report your statement balance and usually updates to the cra's a few days later. They report your balance of the last day of the month, every month. So in theory you can make the minimum payment duewhen your payment is due and run the card up to its max and as long as you pay it off prior to the end of the month that's what it will report on the last day of the month. It took my card like two months before mine initially showed up on my reports, ymmv.
6/1/2008 EQ -634
9/12/08 EX 691 * TU 689
10/02/08 EQ 677
11/11/08 TU 669 * EQ 668
1/15/09 EX 759 * EQ 788
9/24/09 EQ 761 * EX 729 (from NFCU loan app) * TU 666
Message 9 of 14
Regular Contributor

Re: How long till it reports and helps?

What card and limits did you all get? I was approved last week, plat cash back (with the 0% 12 month deals) for $1,250. It is not reporting yet, card has not shown up yet either. It is one of my lower CL cards.

 

Has anyone been able to get a CLI at activation from HSBC? With the credit line I got I can't really take advantage of the 0% deals without trashing utilization...

Message 10 of 14