Credit Card Cancelled - Help!!

Consumerist

Have you seen your credit files yet ?

Unless HSBC has entered an AP on your credit record, there is nothing to complain about.

tayworth83

I have just done a credit check on Callcredit Check and nothing is showing up, however it says the HSBC credit card in question hasn't been updated since 31/12/2010, We spoke to HSBC on the 22nd December last year and that is when the card was apparently cancelled. It also says the account status is "normal" would this not have been changed if the card had been cancelled? The other thing is the credit card statements that he has received since this date haven't changed either, it doesn't say the card has been cancelled so I am now extremely confused!!

Consumerist

OK. It would seem that HSBC has entered into an informal arrangement whereby you continue with minimum payments until the debt is paid in full but, because you have told them that you are in difficulties, they will not allow you to increase the debt.

If there is no record of an AP on any of your credit files then I would say that this is probably as good an arrangement as you are likely to get. Your credit file has not been trashed and you can quietly pay off your debt. Providing there are no future late or missed payments, HSBC may even re-instate the card at some future date.

tayworth83

Is it worth me doing a credit check with the other 2 CRA's???

Consumerist

Yes. You need to be sure there is no AP on any of them. If your credit files are clear of APs then I think the present arrangement is as good as it gets.

It would be sensible to check them again in, say, three months time if your HSBC card record hasn't been updated recently.

izools

Consumerist wrote: »

Yes. You need to be sure there is no AP on any of them. If your credit files are clear of APs then I think the present arrangement is as good as it gets.

It would be sensible to check them again in, say, three months time if your HSBC card account hasn't been updated recently.

I've noticed HSBC are pretty slow off the bat to update credit files. My flatmate had to stop paying his loan with them due to involunraty unemployment last year and he had missed three payments before they recorded the account in arrears on his credit file, so defo good to have a look in three months as Consumerist advises

tayworth83

Thanks for all your help!

Consumerist

And finally . . .

Your OP suggests that your difficulties are temporary so it might be helpful to restore HSBC's confidence in your ability to pay if, as soon as you are able, you start to pay a little more than the minimum each month.

Good luck.

JasX

tayworth83 wrote: »

I have just done a credit check on Callcredit Check and nothing is showing up,

Dear god please do not use those scam artists, they WILL take your money well in advance of the free period and will refuse to adhere to their Ts and Cs relating to the period that should have been free if you challenge them. Get that cancelled ASAP, keep a record of it, get confirmation frm them they will not be charging you...... you'll then be in a stronger position when they charge you anyway.

(plus i think the other two are more reliable/used more/likely to have better information, worth the £2 for a statutory report if you can't get the free one from them)

izools

Absolutely, you should obtain a copy of your Experian report or Equifax as second best but like I said, it can take HSBC upto three months to register the AP marker so check again in May.