topic Re: HSBC Rip Off in Rebuilding Your Credit

HSBC Rip Off

want2b_800s — Tue, 02 Sep 2008 21:28:25 GMT

I called HSBC to ask them why they hadn't updated ANY of the CRAs, since I understood they updated on the 31st of each month and they hadn't updated my reports since June. Since I'm diligently working on my util and paid them over 1100 in the past two months, I wanted my reports updated correctly so I called. They said "thanks for bringing this to our attention. We'll let our management know." Still not sure what that means but I told them I looked forward to them posting the correct information as required by law.

Anyway during the call, I was offered a CLI of $200 if I agreed to pay 10-15% of the increase amount on my next statement. lol!!!! They are such predators!!!! I can't believe they charge you now for even potentially using their credit. AMAZING!!!! What a great return on their money, and they cry about all the money they lose in writeoffs. Well, boo hoo. I couldn't help myself but I turned them down. I really hate HSBC.

Too funny, I would already be at the max util for the increased amount before the increase even hit the account. Downhill from there. I just couldn't bring myself to accept the amount. Thank goodness it was supposedly a soft pull.

Re: HSBC Rip Off

llecs — Tue, 02 Sep 2008 23:37:06 GMT

want2b_800s wrote:
I called HSBC to ask them why they hadn't updated ANY of the CRAs, since I understood they updated on the 31st of each month and they hadn't updated my reports since June. Since I'm diligently working on my util and paid them over 1100 in the past two months, I wanted my reports updated correctly so I called. They said "thanks for bringing this to our attention. We'll let our management know." Still not sure what that means but I told them I looked forward to them posting the correct information as required by law.

Anyway during the call, I was offered a CLI of $200 if I agreed to pay 10-15% of the increase amount on my next statement. lol!!!! They are such predators!!!! I can't believe they charge you now for even potentially using their credit. AMAZING!!!! What a great return on their money, and they cry about all the money they lose in writeoffs. Well, boo hoo. I couldn't help myself but I turned them down. I really hate HSBC.

Too funny, I would already be at the max util for the increased amount before the increase even hit the account. Downhill from there. I just couldn't bring myself to accept the amount. Thank goodness it was supposedly a soft pull.

I've noticed that HSBC via Plan A will report the balance sometime after the first week of each month with the balance that was showing on the account on the last business day of each month.

If you payoff that balance, then HSBC, in my case anyway, will delay reporting up to 2-3 months.

Re: HSBC Rip Off

Anonymous — Wed, 03 Sep 2008 00:19:43 GMT

If they do not update the account this week....file a dispute & ask the CRAs to update.

Re: HSBC Rip Off

Anonymous — Wed, 03 Sep 2008 03:20:00 GMT

Funny they updated the DW's accounts that were closed over 18 months ago for July-

HSBC can update as late as the 18th of the month.

Every now and then they skip a month-

HappyDays wrote:

If they do not update the account this week....file a dispute & ask the CRAs to update.