How are negative balances reported??

[Anonymous]

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

[Anonymous]

Reported as $0.

[Anonymous]

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

[Anonymous]

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.

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@Anonymous wrote:

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

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[Anonymous]

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

[haulingthescoreup]

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."

[MidnightVoice]

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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."

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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