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ST in California said: “I received a letter from HSBC and Equifax Credit Services stating that my account with HSBC (ending in 3659) was being reported to Equifax because of a)amount owed on acct; b)delinquency c) relationship of balance to high credit on revolving accts; d) # of accounts of outstanding balances. In essence and in short, this account has a credit on it of $2.20. I have had that credit on the account for months as I paid it off and gave them too much money. They are now reporting this?
This will affect my credit report – I am 70 yrs old – on a fixed income and I pay my bills AHEAD of time. Why are they doing this and why am I going to have to track this down and follow up? This is a total error – THEY OWE ME MONEY and are going to ruin my credit = how does this work??
I have another account with them that is always PAID AHEAD OF TIME. This account which I told them to close and forget the $2.20 has caused this issue. When I pay the other account off, I will never use HSBC and will let everyone I know about it. It’s so disappointing that our banks have run completely amok and do this to good customers to ruin their credit.”
This article, Credit balance at HSBC causes credit report problem, is just one of our articles from Bank Horror Stories, HSBC Secrets
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