topic Re: Is anyone having issues with HSBC not reporting to the CRAs? in Credit Cards

Is anyone having issues with HSBC not reporting to the CRAs?

Anonymous — Fri, 05 Mar 2010 07:56:59 GMT

I suspect HSBC may be having some issues but who knows and was curious to know if anyone else was having problems.

I have three accounts from them that have not been updated since December 09.

Normally, I wouldn't care but one card was reporting a $350.00 balance while it only has a $600.00 CL. I know bad idea

As soon as I learned how much of an impact it was having on my score I paid it down to below 9%. This is also the card HSBC gave me a $ 200 CLI on.

Anyways, I'm in the process of trying to get a pre-approval for a mortgage and my scores aren't all that great. 610-620

If I can get HSBC to update I'm hopeful my scores will increase enough to get approved.

I called customer service and told the agent what was going on and he seemed a bit puzzled by it at least that's what he sounded like to me. He put me on hold for a few minutes and when he came back told me that I needed to write a letter to their credit bureau verification department.

Unfortunately, for me I have an appointment with a loan officer this coming Thursday March 11th. So I don't know what I can do to get them to report before then.

Message Edited by wgfroggy on 03-04-2010 11:56 PM

Re: Is anyone having issues with HSBC not reporting to the CRAs?

Anonymous — Fri, 05 Mar 2010 07:50:31 GMT

@Anonymous wrote:
I suspect HSBC may be having some issues but who knows and was curious to know if anyone else was having problems.

I have three accounts from them that have not been updated since December 09.
Normally, I wouldn't care but one card was reporting a $350.00 balance while it only has a $600.00 balance. I know bad idea
As soon as I learned how much of an impact it was having on my score I paid it down to below 9%. This is also the card HSBC gave me a $ 200 CLI on.

Anyways, I'm in the process of trying to get a pre-approval for a mortgage and my scores aren't all that great. 610-620
If I can get HSBC to update I'm hopeful my scores will increase enough to get approved.

I called customer service and told the agent what was going on and he seemed a bit puzzled by it at least that's what he sounded like to me. He put me on hold for a few minutes and when he came back told me that I needed to write a letter to their credit bureau verification department.
Unfortunately, for me I have an appointment with a loan officer this coming Thursday March 11th. So I don't know what I can do to get them to report before then.

I assume you mean that it only had a $600 limit. I don't know if you can get HSBC to do anything, unless there is some way you can escalate the problem to a supervisor. Every time I've called them I just end up frustrated. What is your overal util? This individual account may not be making as big an impact on your score as you think.

Re: Is anyone having issues with HSBC not reporting to the CRAs?

Anonymous — Fri, 05 Mar 2010 07:58:38 GMT

Yes, I meant CL sorry if I confused you.

Re: Is anyone having issues with HSBC not reporting to the CRAs?

Anonymous — Fri, 05 Mar 2010 08:32:12 GMT

What about your overall utilization? Is this your only card?

Re: Is anyone having issues with HSBC not reporting to the CRAs?

Anonymous — Fri, 05 Mar 2010 10:24:49 GMT

In addition to the HSBC Platinum I have a JC Penney card with an 1800 CL.

I'm not carrying a balance on the JC Penney card.

Re: Is anyone having issues with HSBC not reporting to the CRAs?

Anonymous — Fri, 05 Mar 2010 11:00:49 GMT

The problem I had with HSBC's reporting is when u go a while without using your card they will stop updating but as soon as u use it they normally update all the way to the current Month.

Re: Is anyone having issues with HSBC not reporting to the CRAs?

Anonymous — Fri, 05 Mar 2010 12:11:59 GMT

They havent reported my two HSBC cards since December on EQ and TU, and January on EX. Alot of people have been complaining about it. They have a thread running this same topic on the creditboards forum.

Re: Is anyone having issues with HSBC not reporting to the CRAs?

laz98 — Fri, 05 Mar 2010 14:27:11 GMT

seems like lots of people are having mroe & more problems. mine seem to be reporting okay.

Re: Is anyone having issues with HSBC not reporting to the CRAs?

Anonymous — Fri, 12 Mar 2010 03:23:51 GMT

If anyone is having issues with HSBC not updating with the CRAs it might be a good idea to contact the office of the president.

I don't know if I can post the number so if anyone wants it let send me a pm

I had an issue with my credit cards not being reported and I called the office of the president and they were incredibly helpful. I was able to get them to report to the CRAs.

Hopefully I won't have the same issue next month.

Re: Is anyone having issues with HSBC not reporting to the CRAs?

Anonymous — Fri, 12 Mar 2010 03:38:51 GMT

Did your meeting go okay with the LO?

Re: Is anyone having issues with HSBC not reporting to the CRAs?

Anonymous — Fri, 12 Mar 2010 05:27:38 GMT

Unfortunately, no. I decided to pull my Fico score ahead of time so in case they were too low in wouldn't cost me a rejection and an inquiry.

It's a good thing I did, now my Equifax was fine it was 677 but my Transunion however was 582 My HSBC CC had not yet been updated. I'm currently at a 7.5% util but the CRAs show it at 64-65% I also received a CLI. So I'm hoping I get some badly needed points when it does finally update. So after speaking with the LO it was decided it would be better to wait a few weeks or so.

However, I don't think the credit cards alone will be enough to bring me up to a 640 or better. I do have a CO Cap 1 account that was settled but it is still showing a balance so after speaking with the loan officer I mailed a dispute to the CRAs with the settlement offer and proof of payment in order to get it to show a zero balance. Then there is another dispute I have with Fashion Bug I haven't heard anything from them or Transunion and the 30 days is up on March 24. So I'm hopeful that by the end of the month I will have enough points to qualify for a mortgage.

Re: Is anyone having issues with HSBC not reporting to the CRAs?

lexus400 — Fri, 12 Mar 2010 09:34:45 GMT

I am wondering the same thing. I have 2 accounts with them that i just paid down to a zero balance, was not reported since Jan 2010.

Re: Is anyone having issues with HSBC not reporting to the CRAs?

lexus400 — Fri, 12 Mar 2010 09:37:19 GMT

Can you please send me th number, Thanks

Re: Is anyone having issues with HSBC not reporting to the CRAs?

Anonymous — Fri, 12 Mar 2010 12:37:22 GMT

If HSBC is unwilling to update, you could always file a dispute with the CRA, then they have no choice but to update.

Re: Is anyone having issues with HSBC not reporting to the CRAs?

JoeBJay20 — Fri, 12 Mar 2010 14:23:15 GMT

I would hold off on disputing, that could possibly cause the entire tradeline to be deleted from your credit reports. Unless you're app'ing for a mortgage (in which case you could just do a rapid rescore), then just be patient and eventually the balances will update.

Re: Is anyone having issues with HSBC not reporting to the CRAs?

Anonymous — Fri, 12 Mar 2010 15:18:23 GMT

Neither of my Orchard Bank cards have updated since January. I have monthly activity/PIF on both.

Re: Is anyone having issues with HSBC not reporting to the CRAs?

Kiwill — Fri, 12 Mar 2010 15:34:03 GMT

Same here. I have two HSBC cards and both haven't been updated since Jan-10 however and showing zero balances, I am in the minority that I hope they don't update until the end of the month for my Orchard card. Last month I accidentally paid my balance in full on the last day of the month instead of thte last business day of the month which left me a balance so luckily it hasn't been reported yet, with my luck though it's probably being updated as I type this. Anyhow I have since put on a new balance plus their AF has been tacked onto the balance totaling $177 of $900 limit, so hopefully nothing will be reported until the end of this month which will leave me with a zero balance plus a $400 CLI! My fingers are crossed for an update no earlier than the end of March.

Re: Is anyone having issues with HSBC not reporting to the CRAs?

Anonymous — Fri, 12 Mar 2010 15:54:28 GMT

my Orchard Bank CC has been updating every month just fine. I wish it wouldn't have since i had a pretty high balance on it but payed it off in full this week and threw it in my desk.

Good luck in the next few weeks for you can get that house!

Re: Is anyone having issues with HSBC not reporting to the CRAs?

lexus400 — Sat, 13 Mar 2010 02:59:46 GMT

FYI, My report has not been updated since Jan 2010. Called HSBC today an asked why its taking so long for the updates. Of course got the same Bla bla Blah. Went to check my CR 3hrs later and walaah. It was updated. But it said Feb 2010. Oh well I guess ill have to call back for March Huh. LOL

Re: Is anyone having issues with HSBC not reporting to the CRAs?

egold1234 — Sat, 13 Mar 2010 05:27:37 GMT

I just opened a HSBC account, I hope they report the account by the end of the month like I heard they do. I could really use the decrease in utilization!