topic Re: Finally - HSBC January posted! in Credit Cards

HSBC Reporting Slowly?

Schoolbuskid — Tue, 12 Feb 2008 14:58:14 GMT

Has anyone ever experienced payments not being updated to CRA from HSBC. Its been about a month since i paid my last bill and they still have not reported to EQ and TU. I just made my second payment last week! Whats the hold up people! LOL!

Re: HSBC Reporting Slowly?

bott6698 — Tue, 12 Feb 2008 16:50:27 GMT

Shouldn't be a hold up. I just talked to them recently and I noticed they reported me as late for january which I wasn't and when I called them they said it was impossible because they don't send info to CRA's until the 14th of every month. Must have been a CRA glitch. So looks like they report every month on the 14th if that helps at all.

Re: HSBC Reporting Slowly?

myfico5378 — Tue, 12 Feb 2008 17:45:23 GMT

Well, I am quite certain they don't report every month because none of my CRA's have been updated since December for my 2 HSBC accounts. They have been updated for my other accounts so I don't think it is the CRA that is holding it up. I've been anxiously awaiting these updates too since I paid off one account and paid 30% on the other one. I can't wait to see whether or not it helps my scores!

If anyone notices an update from them, can you please post it!! I check my TrueCredit reports regularly, but not every day because I don't want to get banned as I've noticed has happened to some people.

Re: HSBC Reporting Slowly?

Anonymous — Tue, 12 Feb 2008 17:49:34 GMT

I've heard that HSBC reports monthly, on the last business friday of the month.

Give it another week or 2.

Keep in mind that even though a creditor DOES report when they say they do, the CRA's sometimes fall WAYYYYYY behind in updating your cr's.

I have a V.S. cc that I pif'd in mid December, and EXP is STILL reporting the high balance open(the amount I pif'd).

HSBC only reports every other month for me...

Anonymous — Tue, 12 Feb 2008 18:02:38 GMT

At least that's been the case for my two HSBC cards since I've been watching my scores (Sep - now). All of my other cards show up monthly, close to the statement date - I already have a few updates for Feb, so I don't think it's the CRA's, unless they have different processes for different credit card companies. But nothing from HSBC since December, and it was August and October before that.

Re: HSBC only reports every other month for me...

Anonymous — Tue, 12 Feb 2008 18:30:19 GMT

3 months later and they still show my accounts open-

This is HSBC's normal late reporting every 3 months-

Re: HSBC Reporting Slowly?

Anonymous — Tue, 12 Feb 2008 18:50:55 GMT

Yes I noticed the same thing while looking at my CR this month, the balance they show is not accurate!

Very Annoying since I have a very low CL and made a huge payment to try to get my util down.......what can be done about this? I mean it DOES affect our creditworthiness!

Re: HSBC Reporting Slowly?

Schoolbuskid — Wed, 13 Feb 2008 14:09:41 GMT

Yea my bill is actually due the 14th of every month so i dont know about the reporting the day its due? But anyway im gonna give Equifax a call and HSBC to see whats going on. Equifax always updates my information around the 20th of every month but my HSBC information stayed the same! I keep you updated! Thanks Guys!

Message Edited by Schoolbuskid on 02-13-2008 06:09 AM

Re: HSBC Reporting Slowly?

treschic — Wed, 13 Feb 2008 15:32:28 GMT

they haven't reported my balance since october, still showing when i maxed my card out, even though i paid it down immediately, i thought i had until my statement due date, which apparently isn't the case, and i have been under 2% utilization since.

Re: HSBC Reporting Slowly?

Anonymous — Wed, 13 Feb 2008 15:48:37 GMT

They haven't updated me either. But, actually, all the credit lines on my reports are behind at the moment, so I think it might be a CRA issue, for me at least.

Of course, they slapped the mistaken identity medical collections I'm about to go rant about right on there with no delay at all.

Re: HSBC Reporting Slowly?

myfico5378 — Wed, 13 Feb 2008 16:22:21 GMT

I got a standard reply via e-mail from HSBC when I inquired on-line. They claim they report monthly. I don't believe them for a second since all of my other TLs are updated every month by the CRAs, but HSBC is usually only updated every other month. I'm chomping at the bit for them to update this month! I thought about disputing the balance, but I don't know if it's worth the time and trouble. If enough people started disputing their balances, maybe they'd start reporting on time!

Re: HSBC Reporting Slowly?

Anonymous — Wed, 13 Feb 2008 16:28:04 GMT

I think we really ought to consider doing something about this.......CC companies are quick to report us if we are bad, why can't we require HSBC to maintain this same standard when we pay on time?

I will send them an inquiry on this as well, hopefully if we all make enough noise......

Re: HSBC Reporting Slowly?

Anonymous — Wed, 13 Feb 2008 17:31:22 GMT

No clue if it will help but I sent an email to HSBC about updating information on the reports.

Re: HSBC Reporting Slowly?

treschic — Wed, 13 Feb 2008 23:44:16 GMT

I sent an email to HSBC this morning asking why my account hadn't been updated with any of the 3 cra's since october 2007. I stated that i was told, that they report on a monthly basis, this is the reply i received.

Thank you for using our online services. My name is xxx and I am happy to help you. This message is regarding your Account ending in xxxx. HSBC Card Services Inc. submits updates to the three major credit reporting agencies, Trans Union, Experian, and Equifax, on a monthly basis. We report information that relates to the actual credit experiences that we have had with you. Since we send updates to these agencies every month, any action you take will be automatically reported. You are important to us and we appreciate your business.

I sent a reply back, restating my original inquiry, I am aware that your policy is to report to the 3 cra's on a monthly basis, however my account hasn't been updated since October 2007.

Re: HSBC Reporting Slowly?

Schoolbuskid — Thu, 14 Feb 2008 00:03:53 GMT

Good News. Everything is updated got it straightened out today. I feel that it was Equifax fault this time because they updated my HSBC information today when i called along with my other information. Which is usually updated on the 20th of everymonth so i believe that Equifax updates on a Certain date. I hope this doesnt screw up my score watch alert.

Re: HSBC Reporting Slowly?

sh9730 — Thu, 14 Feb 2008 00:08:10 GMT

Except that they are also showing 12/07 on TU and EX for me also....

Re: HSBC Reporting Slowly?

Anonymous — Thu, 14 Feb 2008 01:02:52 GMT

Just thought I'd add my experience as well. Both my husband and I have HSBC accounts and neither one has been updated since December. On all three agencies by the way so I do think its HSBC not the credit bureaus..I am going to call tomorrow. Everything else has updated monthly...Hmmm

Re: HSBC Reporting Slowly?

myfico5378 — Thu, 14 Feb 2008 01:17:55 GMT

I checked my 3 reports again tonight and they still haven't updated... I sent a reply to HSBC stating that I wanted more than the automated response as I don't believe they are updating since all of my other accounts (13 total) are updated for Jan and some for Feb. I got the following reply:

We certainly understand your concern regarding the credit bureau update.

As advised earlier, HSBC Card Services Inc. submits updates to the three major credit reporting agencies, Trans Union, Experian, and Equifax, on a monthly basis. If you still wish to speak with a representative, please call the number on the back of your credit card and our Customer Service Department will be happy to assist you.

Re: HSBC Reporting Slowly?

Sinarta — Thu, 14 Feb 2008 02:03:35 GMT

I am too experiencing this as I have two HSBC cards and paid them both off the first week of January and they have not reported the last time i checked my report which was about one week ago. My other credit cards are reported but not my HSBC and I am trying to work on my credit. I am going to e-mail them and try to give them a call to see what is the problem.

Re: HSBC Reporting Slowly?

sunnyday — Thu, 14 Feb 2008 12:00:00 GMT

You are right. My hsbc has not reported to any of my cr since Dec 07 and I have paid the balance way down to increase my score but they are still showing almost maxed out. I believe it is Hsbc, not the cra that are to blame