HSBC Card Not Reporting To Transunion

darkdreamer4u | Oct 19, 2020 | 345 posts since 2010

So I checked my credit reports from Equifax and Transunion and noticed again that my HSBC card is not being reported to Transunion while Equifax shows the active account just fine. This difference has been like that for years I think. Everything else is pretty much the same between the two reports including the credit score of 827 (thank you very much:-)

I finally decided to chat with HSBC and got this answer:

"Unfortunately we do not report to Transunion anymore. And HSBC reports to Equifax, Experian and Innovie."

Wow - I didn't know credit card companies or banks could do that, unilaterally! That makes it potentially even more challenging to compare credit reports across bureaus. And you can't get it fixed either. Not good:-(

Do we know of other financial institutions that don't report to certain credit bureaus? Do we know why?

Just wondering...

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Answers

Choice | Oct 20, 2020 | 937 posts since 2020

Ergo, don’t do business with a firm that uses Transunion since Transunion does not have a complete history? Or

Choice | Oct 22, 2020 | 937 posts since 2020

Thinking more about this...how could any credit reporting agency provide a realistic credit score or ...w/o receiving all inputs? Can one dispute the absence of a HSBC or others? Ken, how can lendingtree review creditworthiness of an applicant using only a partial picture and then deny credit for what is NOT in. a report?

Choice | Oct 23, 2020 | 937 posts since 2020

Take a look at https://www.creditcardinsider.com/blog/my-credit-card-isnt-on-my-credit-report-what-can-i-do/
You will see a post about Florida law (“misleading to not have reports from all creditors listed under local law”) and a comment on HSBC. Google for more.

darkdreamer4u | Oct 24, 2020 | 345 posts since 2010

HSBC probably gets away with it because they do report to SOME bureaus. It's just odd that they pick Transunion to not report to while reporting to others. If I had to pick one not to report to, it would be Equifax (for obvious reasons, until they get their act together if ever).

Choice | Oct 24, 2020 | 937 posts since 2020

The problem is not the bank but reporting agency. Want to drive Equifax “up the wall”...try getting the free WEEKLY credit report by US Mail...took a two month wait recently and that was after someone intervened and it was done out of order without explanation. FTC et al did nothing!

me1004 | Oct 23, 2020 | 1,379 posts since 2010

I am aware of other places that report only to certain credit bureaus, although I don't recall which ones. That is not unique to HSBC. In fact, there is no legal requirements that they report at all, only that you are notified your information mgiht be shared with, you know, like who you see in the small print listed as as their "affiliates." But if they want good information about loan applicants or other things, they know they need it, so they support the reporting. But they can pick and choose.

Mind you, a lot of the "FICO" scores you get are not actually FICO -- which is Fair Issacs COrportation. And the different places giving ratings give different ratings. And some of the scores can be seen by the public, and others cannot. People appying for loans sometimes see that they are being rated at a lower FICO score for the loan than the "FICO" score they saw online, because the one they saw online was not actually FICO.

Choice | Oct 23, 2020 | 937 posts since 2020

And it “sounds” like a FICO score may also be incomplete/inaccurate in part b/c of partial reporting by creditors...that is wrong. At the previously posted URL it appears there may be some remedy under local law, not federal law.

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