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

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#gobah@att.net - Says,

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 - Says,

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

#goodnatured - Says,

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.
#sdchargers_63 - Says,

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?).
#goodnatured - Says,

Are they all through the same company?
#sdchargers_63 - Says,

I DO believe that Beneficial/Orchard credit card is through the same company. I DO know that Beneficial/HSBC is the 'same' place.
#SunDevilsFan - Says,

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....

#debtstinker - Says,

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.
#goodnatured - Says,

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.
#desiree15 - Says,

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
#debtstinker - Says,

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.
#sdchargers_63 - Says,

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.
#SunDevilsFan - Says,

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

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.
#Mary - Says,

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?
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