HSBC

[happy0510]

Oh crap...I need to stay on top of this!! I paid my Orchard to $0 and need this to report!!

[MidnightOwl]

Same problem as me. I called them to inform them of the problem but, they are blaming the CRA's for the problem.

[MidnightOwl]

Can you file a dispute online ?

[MidnightOwl]

I forgot to add on my last post that they haven't updated my information since Feb.2010 on all 3 reports. I just did the online dispute with EQ & EX. It appears with TU  you have to print the form out & mail in the dispute. I'm going to call all 3 cra's and try to get to the bottom of this. I talked to HSBC & they said it's the cra's & not that them which I seriously doubt since all of my other accounts with other CCC's are showing current.

[Anonymous]

Thanks for bringing this issue up!  I just paid off my HSBC card, but since you raised this issue, here is what I am going to do nopw (I'll report back when I see what happens):

I am going to charge a small amount today - once the amount posts to the account, I am going to pay the entire balance except for $0.01 (and make sure that I pay well before the closing date, since HSBC takes a while to post payments).  If HSBC truly does not report accounts paid in full, then I would guess that this might be the quickest and easiest way to get the lowest reporting balance possible.

Now next month, I shall pay the $0.01 remaining balance.  If HSBC later reports the account as paid in full, great - if they don't, then I would hope that they would report an account balance of $0.01.

If this method works, then most likely these results would be quicker than dealing with the paperwork and hassle of disputing an overstated balance. 

Has anyone tried this proposed method and found it successful?

[theo78]

So i'm confused here... I have 2 accounts with HSBC. Last month I paid one in full and paid one down to about a substantial bit. The one HSBC card I left a balance on will be the only card I have reporting a balance and it will be less than 9% of my utilization. Neither account has been updated since march.  Is the theory here that if you have a balance and PIF HSBC won't update your report to show the payment? That will effect my scores, and I am going to be financing a car in June/July time frame so I want all my cards PIF except one with the one card with a balance of less than 9% of my utilization. I'm not in the mood to play games here, nor do I have time for games. I do not have time to file a dispute and wait 30 days.... 

[Anonymous]

Hi Rohardi.  I am not sure if HSBC does not in fact report accounts as PIF, so that's why I am going to charge my PIF'd account again, and pay off everything except for $0.01.  

If they in fact do report a balance, any balance, then this might be a quicker way to get the reported balance down if you don't have time to dispute.

You may want to call them and see if they can give any solid info about not reporting PIF'd accounts.

[happy0510]

Hi Guys...I paid mine to $0 for the first time ever.  They have always reported any balance I had.  This is great.  We are all going to see our outcomes in about 10 days.

[MidnightOwl]

After disputing with the CRA's about HSBC not updating since Feb. 2010, I just checked all 3 of my reports & they have just been updated as of 5/2010. It shouldn't come down to having to dispute to get your accounts in good standing updated but, sometimes it takes just that to get positive results. I got the alerts from all 3 CRA's by email showing that it's been updated. My Transunion score just jumped up 23 points today & my Experian went up 19 points.

[raine22]

I have been waiting also on two of my HSBC cards to report which have not reported since February.  It makes me want to scream, I check my CR everyday since Mar 31 thinking they will update any day.  I'm still waiting.  I do have a HSBC Best Buy account that did update.  It doesn't make sense.  I've been thinking of disputing as well so I can see if my score increases from lower utilization.  It's pretty bad you have to resort to those measures.  I did pay one off entirely and the other ended up with a $69.00 balance for an annual fee after I thought I had it paid off to zero.  Curious as to what everyone finds out, please let us know :-)