topic Re: How are negative balances reported?? in Credit Cards

How are negative balances reported??

Anonymous — Thu, 13 Dec 2007 16:04:28 GMT

I am just curious. Say if I have a current balance that is -8.02 dollars on my HSBC Cash or Fly Mastercard (in other words, I don't owe anything), how is that reported to the CA's. Does it affect my utilization?

Message Edited by landocalrissian on 12-13-2007 07:58 AM

Message Edited by landocalrissian on 12-13-2007 08:04 AM

Re: How are negative balances reported??

Anonymous — Thu, 13 Dec 2007 16:02:46 GMT

Reported as $0.

Re: How are negative balances reported??

Anonymous — Thu, 13 Dec 2007 16:03:57 GMT

Thanks Timothy for the heads up. I am still learning this game and there is more for me to learn.

Re: How are negative balances reported??

Anonymous — Thu, 13 Dec 2007 16:15:27 GMT

I am a little frustrated with HSBC right now myself-

I also have a small negative balance on one of their cards-

I refuse to call them- so I sent them a bill - with a 22.65% APR(The APR on my other HSBC card) (as this credit is for an refund of finance charges that were supposed to be 0% APR)

Gonna put some late fees on as well.

@Anonymous wrote:
Thanks Timothy for the heads up. I am still learning this game and there is more for me to learn.

Re: How are negative balances reported??

Anonymous — Thu, 13 Dec 2007 17:13:39 GMT

I am a little confused. Are negative balances actually bad to have on an account?? And what is the deal with the late fees??

Re: How are negative balances reported??

haulingthescoreup — Thu, 13 Dec 2007 17:39:49 GMT

Timothy wrote:
I am a little frustrated with HSBC right now myself-

I also have a small negative balance on one of their cards-

I refuse to call them- so I sent them a bill - with a 22.65% APR(The APR on my other HSBC card) (as this credit is for an refund of finance charges that were supposed to be 0% APR)

Gonna put some late fees on as well.

from the wire services: "Phoenix, AZ -- In a move described as a first, HSBC today announced that it would conduct its first-ever financial review of a credit-card holder. The card-holder, identified only as 'Timothy' to protect his privacy, attracted the attention of credit-giant HSBC by insisting upon good customer service and fair play for consumers. The credit industry is watching developments carefully and with great interest."

Re: How are negative balances reported??

MidnightVoice — Thu, 13 Dec 2007 17:46:52 GMT

haulingthescoreup wrote:

from the wire services: "Phoenix, AZ -- In a move described as a first, HSBC today announced that it would conduct its first-ever financial review of a credit-card holder. The card-holder, identified only as 'Timothy' to protect his privacy, attracted the attention of credit-giant HSBC by insisting upon good customer service and fair play for consumers. The credit industry is watching developments carefully and with great interest."

That is as good as the Cap1 letter:

Dear Cardholder:

Due to your extreme fiscal responsibility we are closing your account.

Thank you for your business.

Cap1