Reply
New Member
reinekec
Posts: 4
Registered: ‎03-05-2012

[Deleted]

[ Edited ]

[Deleted]

Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: HSBC Closed Account with negative CL reporting original CL?

I can't speak to how you see it online, but in terms of FICO, HSBC is reporting that your balance is $3833 and your CL is $4600. The only negative I see are the 30s. When you close an account, it's normal to keep reporting the CL. It'll still factor into CC util up to the point it is paid off. Once you PIF, the CL will remain at $4600, but FICO will ignore the CL from utilization calcs.

 

I don't see any indicator that it was CO'd...only late by 30 days.

 

Account closed by credit grantor means they closed it. It's not a negative remark and doesn't mean it was CO'd. I have a few CCs that reported that way as the CCC got bought or sold. It's not a bad thing. If it were CO'd, it would report as "charge-off" or something like that in the comments. And you'd have worse lates than a 30.

New Member
reinekec
Posts: 4
Registered: ‎03-05-2012

[Deleted]

[ Edited ]

[Deleted]

New Member
reinekec
Posts: 4
Registered: ‎03-05-2012

[Deleted]

[ Edited ]

[deleted]

Established Contributor
kjm79
Posts: 1,008
Registered: ‎01-22-2008

Re: HSBC Closed Account with negative CL reporting original CL?

They can do that and do it all the time.  Maybe a consumer's credit profile changed.  Somtimes it's the consumer who does it because they don't like a change in terms (APR increase, new annual fee, etc). The account gets closed as is and continues to be a part of util until it's paid off. 

 

I had a Tribute Mastercard in my early rebuilding days.  Opened in Feb 2008 and closed that summer because they were "discontinuing" the Tribute Mastercard.  Had a $2300 limit and a $1750 balance when they closed it.  It happens. 


Starting Score: TU? EQ 585 EX? (12/06) (CH 7 bk 11/04)
Current Score: (5/12) TU 699 (myFICO) TU 709 (WalMart) EQ 690 EX 686 (CC denial 7/11)
Goal Score: 720 Across the Board by Mid 2012
Take the FICO Fitness Challenge
New Member
reinekec
Posts: 4
Registered: ‎03-05-2012

[Deleted]

[ Edited ]

[Deleted]


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+