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Anonymous
Anonymous asked in Business & FinanceCredit · 9 years ago

question about credit card reporting to credit report?

Recently, I did an application on HSBC website. I was declined the card I applied for, but was offered a different one. I didn't see any info regarding credit limit, and wanted more info, so I clicked "OK". Once I clicked "OK" I was prompted that my card would be sent out to me.

I was upset b/c I didn't know if I even wanted to actually have the card sent out, I just wanted more info. In a rush and busy, I had to deal with it later.

When I got my card I read the contract, and it wasn't something I wanted, plus there is an annual fee, which I wasn't interested in. I went to check my credit report, and the account was listed w/a balance of $59--which was the annual fee.

I called today to have it closed, but I also requested to have the account removed from my credit report, not listed as "closed", since I never activated it, never used it, and never even wanted it.

The lady told me they could not remove it since I clicked "OK", and said that when I clicked "OK" I agreed to getting the card. She also said it wasn't activated in her system.

If it's not active in her system then why is it on my credit report? Also, how can I get this removed, I don't feel like I should have to do a dispute when I never activated the card. I feel there is more they can do to get this off my report, I understand the INQUIRY should be on there, since I did indeed do an application, but not an account listed as $0 balance and "Closed by customer" (which will be a negative hit)

Any advice how I can get this company to remove this credit reporting--and NOT have to do a dispute w/each credit reporting agency?

Update:

I work for a bank and a closed account with a $0 balance DOES hurt your credit report, as did the activation fee when it was added to my debt to income ratio, since they gave me such a low credit limit, it showed 20% of my credit being used on this card, with the Inquiry plus this new debt my credit score dropped THIRTY points, and i have decent credit. Closing w/a 0 balance DOES have a negative impact, do your research

Update 2:

that's the thing-- apparently you're not reading what I wrote-- I CLICKED OK- there was no other option to get info, they said they would offer me a different card and i clicked "OK" to get more info or go to the next page, there wasn't a terms and conditions option or i would have OBVIOUSLY clicked it.

5 Answers

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  • Go with the flow
    Lv 7
    9 years ago
    Favorite Answer

    I would be illegal for any bank not to have their fees posted on the website.

    You could sue them and close them down.

    All you had to do was click on Terms of Agreement and read.

    Activating a card is meaningless. It just means you can't use the card.

    The account is already open.

    Lesson learned. Never click on something without reading the fees first.

    Not sure why anyone would not hit on Terms of Agreement.

  • Genuine Guidance
    Lv 7
    9 years ago

    You cannot. If you dispute this, all HSBC will do is forward the esigned agreement to the credit bureau. When you are clicking around, you need to READ what you are clicking before doing so to avoid this type of thing.

    Your score has already taken a hit by doing the inquiry, the closed account (especially if this was your first card) isn't going to do much damage if any.

    Source(s): Sorry, but you are wrong when you state that closing the account is what is going to kill your score. What killed your score was clicking OK before reading and accepting a less than desirable card that put you close to the credit limit that hurt your score. Once they waive the $59 fee, your score will rebound. Yes, you will still have the inquiry hit, but that is peanuts compared to having a high balance. Next time you should do your research on what you are agreeing to when clicking around a webpage. LOL
  • Ryan M
    Lv 7
    9 years ago

    It is NOT getting removed. The posting is legit and disputing it WILL NOT help. Not using the card or activating the card is irrelevant. Credit reports show credit ISSUED to you, which this card was. You do realize that there is ZERO effect to have this account on your credit report....right? Why worry about something that does not matter in the least?

  • BungalowMo
    Lv 6
    9 years ago

    I have the contact info ...email addy...for 2 gentlemen who are each executive vice pres/CFO of HSBC USA. I can't post it here cuz people get mad. (even tho it is public info!)

    Drop me an email via my profile page & I will email it to ya. The chick on the phone does not have the authority to remove anything on your reports & pretty much gave you their standard answer. The VIP's can move mountains. Believe me...I have contacted them before.

    **I see I've been added as a contact. I still cannot contact you....

    Source(s): Me, my credit & myFICO.com
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  • Anonymous
    9 years ago

    good luck

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