What to do if HSBC/RS appears on your credit report

Submitted by Anonymous (not verified) on Sun, 11/11/2007 - 13:55
Forums
Credit repair

HSBC/RS is the retail services division for HSBC Bank. HSBC's retail services division issues and services credit cards for retailers like Best Buy, CompUSA, Costo, Bon-Ton, Neiman Marcus, Honda, Helzberg Diamonds, Sony, Yamaha, Saks Fifth Avenue, etc. HSBC stands for HongKong and Shanghai Banking Corporation and RS for Retail Services. Thus, if you applied for any of the above retail cards, HSBC/RS may end up on your credit report.

How to handle HSBC/RS reporting

The first step in dealing with a HSBC/RS listing on your credit report is determining whether you have a card backed by HSBC. Because HSBC is the world's largest issuer of Visa and Mastercards, you may have a card that was issued by HSBC/RS and not even know it. If you are unsure whether a card is backed by HSBC, you can look up the retailer online or call the customer service number on your statement or on the back of the card.

If you find out that you do have a HSBC/RS backed credit card, the next thing to do is check your state's Statute of Limitations (SOL) for delinquent credit accounts. If the SOL has expired, HSBC can no longer sue you for the debt, though they may pursue any out-of-court collection action. In that case, you need to send HSBC an "Expired SOL" letter, so that the company knows you are aware of your rights. Regardless of whether the SOL has expired, you need to contact HSBC's collections department and negotiate a payment plan or a settlement, and a Pay for delete agreement (PFD). A PFD agreement will remove the listing from your account once it has been repaid. If the collections department will not agree to remove the listing, then try and get them to agree to change the listing to "Paid" or "Paid in Full". If you are unable to get a PFD, then any charge-off will remain on your credit report for 7 years.

In the unlikely event HSBC has charged-off the account and has assigned it to a third party collection agency for collection, then you may be able to get the account transferred back to HSBC's collections department. In this case, you may be able to get HSBC to agree to a Pay for Delete settlement.

If you are unsure whether you owe any money to HSBC, then you need to send them a Debt Validation letter via fax or certified mail. If HSBC has sold it to a third party collection agency, then you need to send a Debt Verification letter to the collection agency. If neither HSBC nor the third party collection agency responds, then you need to dispute the item with the credit bureau that reported the item along with a copy of the verification/validation letter.

HSBC/RS address and phone numbers

HSBC World Headquarters is located in London and and has numerous satellite headquarters all over the world. In the U.S, HSBC is headquartered in New York City (452 Fifth Avenue, New York, NY 10018).

Some other addresses:

  1. HSBC Bank USA, N.A.

    P.O. Box 2013

    Buffalo, NY 14240

  2. HSBC Retail Service (HSBC RS)

    90 Christiana Road,

    New Castle, DE 19720

Phone numbers for HSBC/RS:

  1. (800) 365-6538
  2. (800)-537-9698
  3. (813) 571-8998
  4. (302) 327-2000
debtstinker

Ok, first of all welcome here....secondly are you looking for contact information for hsbc? the phone number for them and i got this off their website is 1.800.975.HSBC (4722)
without knowing what account you have on your report it's difficult to say what you should do. From an objective standpoint, pull your credit report and begin a dispute...surely there's someone/representative that can assist you with this. I don't know where you pulled your report from, but whatever the company contact them immediately. Let us know some more info...such as what exactly you found on your account, maybe we can help further. good luck

Sun, 11/11/2007 - 16:16 Permalink
goodnatured

Welcome, welcome to the forums. great job there debtstinker, rounding up information pretty quick. Hopefully it will help gobah out, hopefully he or she will come back and let us know.

Sun, 11/11/2007 - 17:10 Permalink
sdchargers_63

I have a HSBC/Orchard credit card. The one I have is for 'bad credit'. I applied for it about a year ago. Did you have ANY accounts though Orchard ( or Beneficial?).

Sun, 11/11/2007 - 20:00 Permalink
sdchargers_63

I DO believe that Beneficial/Orchard credit card is through the same company. I DO know that Beneficial/HSBC is the 'same' place.

Mon, 11/12/2007 - 05:57 Permalink
SunDevilsFan

HMMM... Everytime I pulled my cr I always located a phone number somewhere on the report that referenced all my cards and other loans...

Have you tried googling the card? To find out any contact info? Just wondering....

Mon, 11/12/2007 - 06:32 Permalink
debtstinker

sd i think so too. i had a card like that with a $300 credit limit and a pretty hefty annual fee. it is for blemished credit. I canceled it as soon as I got a better card. that's a good idea sun...get the information from the credit report, that's probably the most accurate info.

Mon, 11/12/2007 - 13:34 Permalink
goodnatured

Yeah anytime you hear those names you can almost bet there is a large intrest rate and probably crazy fees to go along with it. My hubby always recieves these offers in the mail, they go straight to the garbage and straight to the fire. I figure with the new car payment and the house payment, those should be enough to raise our scores. I don't need another credit card right now to get behind on, LOL.

Mon, 11/12/2007 - 20:57 Permalink
desiree15

credit cards can be very intimidating. before i got my capital one i would get all sorts of offers and i think to myself, why would i pay $150 for the priveledge of having a $300 card?? I waited and finally got a decent deal and am working on building my credit now. i started later in life with the credit cards...i got my first one this year and i'm 24

Tue, 11/13/2007 - 00:40 Permalink
debtstinker

You are very fortunate! Better late than never as far as beginning your credit history and I agree that paying lots of fees just for having a card does not make much sense but many people wiht damaged credit must do this. I had a girlfriend in college who filed for bankruptcy and I believe that she had to utilize one of those types of cards. now she's doing ok. it didn't take her long to get back on track but it did take some time. so while i think it's great that there are cards out there designed to help people get back on track, i think those fees are wrong. seems like they are taking advantage of an already bad situation.

Wed, 11/14/2007 - 01:38 Permalink
sdchargers_63

Well..right now, this card is a 'good thing for me'. I know I won't owe a ZILLION dollars in credit card debt..LOL I know people have their own opionions on certain things. I just say, "whatever works for YOU". Hope this makes sense.

Wed, 11/14/2007 - 05:14 Permalink
SunDevilsFan

I think so debtstinker.... companies take advantage of people in need... and charge outlandish interest rates to boot!!

Wed, 11/14/2007 - 06:23 Permalink
Susie (not verified)

I noticed a lot of people has an Account from HSBC that they don't know they have. I only have 2 credit cards i use and all of the sudden there's an HSBC credit card on my account. which shows more than 3 times late.

Tue, 12/18/2007 - 18:45 Permalink
Mary

What are the cars that you have Susie? Did you ever apply for any in store card that was on offer? Any that you applied for but never used?

Thu, 12/20/2007 - 07:20 Permalink
Laura

Get in touch with HSBC and give them the detail. If it is indeed not your card go ahead and dispute with the credit agency mentioning that the card is not yours and send it by certified mail with return receipt.

Fri, 12/21/2007 - 04:07 Permalink
brandoncarr21 (not verified)

I have an HSBC/RS CC on my credit as well. This wasn't, however, a charge account. It was for a motorcycle. Honda Gave me a line of credit with them to finance my bike. Not sure if that helps. If you're not aware of what this is for, I suggest challenging it through Equifax. If you pulled your CR through FreeCreditReport.com, they have an option to challenge anything on your credit, and they will research it, and get to the bottom of it. Good luck, and welcome to the board!

Fri, 12/21/2007 - 05:18 Permalink
carol

Hi Brandon,

YOU are welcome to the boards. It will be really great to see your valuable posts. We will be more than glad to have you here. :)

Fri, 12/21/2007 - 09:41 Permalink
kccpa (not verified)

My husband filed for bankruptcy and he has NEVER paid to have a credit card, he has been given many opportunities to receive credit without paying any fees for it. So they are out there you just have to look for them.
Just some other information from experience.

Thu, 01/03/2008 - 18:10 Permalink
Laura

thanks kccpa. It is so generous to give answers from experience. Thanks a lot

Sat, 01/05/2008 - 09:03 Permalink
Dadummy

i have hsbc credit card from my union, no problem so far but may be because my union is backing it.

Sat, 01/12/2008 - 18:37 Permalink
rajeder reddy (not verified)

hi

I need HSBC credit card please contact removed for your safety

Sat, 02/23/2008 - 11:42 Permalink
Morningstar

I removed your phone number because this is a public forum...this is NOT HSBC.

Sun, 02/24/2008 - 12:16 Permalink
sdchargers_63

Just wanna let people know...............if you bring up FreeCreditReport.com, you will pay a fee, to get your credit. If you bring up AnnualCreditReport.com, you will NOT have to pay a fee, and they (Annual) will dispute items for free.

Tue, 02/26/2008 - 12:28 Permalink
jay r. afromsky (not verified)

I recently sent in a payment for my account ending in 2609. I checked my checkbook on line and found that HSBC RS deposited this e-mailed amount in the sum of $163-. I would like to know if this amount was received and applied to my BEST BUY account . (best buy account ending in 2609) I had set up a user name and password and given my aba routing number so this payment could be taken from my account as it obviously was. Please e-mail me so that I can access my account with information that I had sent your institution. thak you

Wed, 10/29/2008 - 01:52 Permalink
gaurav kumar singh (not verified)

i had applied for a hsbc credit card and din recieve it yet....i got the confirmation calls regarding it and was said i ill recieve it in 14 days but i have no information about the card.....

Sat, 04/25/2009 - 09:17 Permalink
Anonymous (not verified)

Hi Gaurav
I think that you should contact your credit card company at their customer care number with your confirmation number and they will help you out with your query.

Mon, 04/27/2009 - 10:01 Permalink
jimmyjuma77@ya… (not verified)

I have a credit card from hsbc i transfer it to my loan and now i have a problem(financial) and i would like to open it, it is passible .i have 3 cards but i want is only the gold card, which is 38,500.dirhams. can you help me about this.

Fri, 08/07/2009 - 17:11 Permalink
Dave (not verified)

How do I get this off my credit report if I have a zero balance? I don't want it showing that it is open.

Wed, 11/03/2010 - 14:05 Permalink
Jeri (not verified)

HSBC/RS reports that I have an open Revolving Charge Account. How do I find out what Co. this account is with? It reports as being current, so its not hurting my credit, but I don't like having an account open that I don't know about.

Tue, 11/09/2010 - 06:57 Permalink
Barb Glasgo (not verified)

I,ve just seen that this is on my credit report-no reason-my husband I and carry excellant credit.Can you assist??

Tue, 04/19/2011 - 02:55 Permalink
jones87 (not verified)

this has showed up on my credit report. I found an 800 number but it tells me to enter my SSN. when I do it says its wrong but I know its right. Is there any way to get on the phone with a person

Sun, 05/08/2011 - 02:34 Permalink
eric4141 (not verified)

My wife keeps getting the same amount with drawn from her checking account every month or so, it says " RS Card srvcs phone pmnt" then some numbers. What and where is this comming from?

Sun, 01/01/2012 - 07:43 Permalink
Carla Zaleski (not verified)

I apparently have a credit card with you. I do not have a full credit card number to reach anyone on the phone. how do I speak with someone regarding my accounts?

Fri, 01/13/2012 - 20:16 Permalink
Mary Brooks (not verified)

I have this creditor on my credit report but it doesnt say how much or what it is for?

Thu, 02/09/2012 - 21:45 Permalink
Aldo (not verified)

I bought a $14000 Yamaha motorcycle in May 2008. Later that year, I separated from my wife and filed for BK, which included my HSBC Yamaha credit account. The account was discharged. The bike however, has been wasting away at my old address (dads house); I've never received any phone calls nor correspondence regarding a repo or vehicle surrender. The account has since been sold to a debt collector whom I haven't heard from either. For the right price, I might be interested in purchasing the bike outright. What are my options (if any)?

Fri, 03/02/2012 - 07:53 Permalink
maria-jimena a… (not verified)

what happend if i have a motorcircle and i can still pay for it, can i give it back to HSBC, what i have to do? it will affect so bad my credit?

Tue, 05/29/2012 - 19:01 Permalink
angelica (not verified)

why HSBC SONY SHOW IN MY ANNUAL CREDIT REPORT, I DONT HAVE A CREDIT CARD.

Thu, 07/19/2012 - 22:54 Permalink
Richard P. Teevan (not verified)

My name is richard p. teevan, I had an account with yamaha years ago. I am applying for a refinance on my mortgage. This acct. is showing up as a current liability, but has been paid off long ago. Any help?

Thu, 08/02/2012 - 22:11 Permalink
Nancy Horn (not verified)

My credit report has a zero balance listed on the Experian reporting agency with nothing charged and I would like to know why this is on my credit report.

Mon, 10/29/2012 - 20:09 Permalink
Tony F Jenkins (not verified)

Had a charge to my checking account from your company have no clue what it is regarding

Mon, 12/17/2012 - 19:59 Permalink
Ashlei (not verified)

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Fri, 04/12/2013 - 04:12 Permalink
Vincent (not verified)

hello, I recently checked my credit score for the first time and on my report I noticed that there was an "open" account for an hsbc/rs credit card. I think I remember what this card was for however, I have no card on hand. Also, the balance says 0 but I have a credit limit. should I call hsbc to find out if I would be able to obtain another card? it says it was last updated in 2010
thanks for any comments regarding my situation.

Sun, 12/01/2013 - 19:27 Permalink
Special. Carter (not verified)

Hi carol i writing regarding a letter from the IRS saying that my husband JOHN. Carter had anticipation loan for $1,000 and something. dollars. that we don't. know anything about. Can you help. us

Sat, 02/15/2014 - 02:29 Permalink
tan tran (not verified)

I have hsbc best buy credit debt I want to settle, how can I contact,

Thu, 06/12/2014 - 17:31 Permalink
Erica (not verified)

Hello,

I am applying for a loan and it is showing I have debt from a HSBC credit card, however when I contacted HSBC they are not showing any records of the debt. Who should I contact?

Thanks for the help in advance!

Mon, 04/13/2015 - 13:46 Permalink