When does HSBC report to credit bureaus? This question is about HSBC Credit Cards

When does HSBC report to credit bureaus?

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This question is about HSBC Credit Cards

Chip Lupo, Credit Card Writer

@CLoop • 06/23/22 This answer was first published on 06/23/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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HSBC reports to the credit bureaus monthly, within days after the end of a cardholder’s monthly billing period. HSBC reports a credit card’s credit limit, account balance, payment history, and more to two of the major credit bureaus: Experian and Equifax. HSBC also reports to Innovis. HSBC may use a certain credit bureau more than another, though, depending on the applicant’s home state and other factors.

Once HSBC reports your account information to the credit bureaus, it may take a few days before the updates appear on your credit report. New HSBC cardholders may not see any new credit account info on their credit report for one or two billing periods after first getting a card.

If you’d like to review your up-to-date credit score and TransUnion credit report, you can sign up for a free account on WalletHub. That way, you’ll be able to check every day to see if there’s any new information from HSBC on your credit report.

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When do creditors report to credit bureaus?

Lenders are required by the Fair Credit Reporting Act to report accurate account information to the various credit reporting agencies every month. This information is typically transmitted on your billing cycle date. That’s why scores can literally change daily.

On that note, WalletHub is the first and only website to offer free credit scores and full credit reports that are updated on a daily basis: … read full answer /free-credit-score.

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What credit score is needed for an HSBC credit card?

For the majority of the HSBC credit cards at least a good (700+) or excellent (750+) credit score is needed.

The only exception is the HSBC Cash Rewards Mastercard Student Account which you can get with a fair (640+) credit score, but also a limited credit history.

HSBC will also take other things into consideration when deciding about your application, such as your income, debts or overall creditworthiness.… read full answer

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Are there any HSBC credit cards for bad credit?

No, there aren’t any HSBC credit cards for bad credit at the moment. All HSBC credit cards require excellent credit for approval. This means you need a credit score of at least 750 to get approved for a HSBC credit card.

If you’re considering a HSBC card but don’t meet the minimum credit requirements, you can request to be added to another person’s credit card as an … read full answer authorized user. Another option is to apply for a card from another issuer with less stringent requirements.

Here are some of the best credit cards for bad credit:

No Credit Check: OpenSky® Secured Visa® Credit CardOpenSky® Secured Visa® Credit CardLearn MoreLearn Moreon issuer's website
No Deposit: Credit One Bank® Platinum Visa® for Rebuilding CreditCredit One Bank® Platinum Visa® for Rebuilding CreditLearn MoreLearn Moreon issuer's website
Cash Back: U.S. Bank Cash+® Visa® Secured CardU.S. Bank Cash+® Visa® Secured CardLearn MoreLearn More
No Annual Fee: Capital One Quicksilver Secured Cash Rewards Credit CardCapital One Quicksilver Secured Cash Rewards Credit CardLearn MoreLearn More

Using a credit card for bad credit responsibly may eventually help you qualify for an HSBC credit card. Feel free to also take a look at WalletHub's guide on how to improve your credit score.

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WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.

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