Can a OC report bad information regarding balance??

[Anonymous]

Ok.. so I have a credit card with HSBC and last month they reported my balance as being $257.. that's fine.. so before this next statement posted I made sure that I paid more to bring my balance down.. I received the statement in the mail and it said that my current balance for that statement is $164.71.. perfect.. so my balance will reflect as being lower on my credit report... WRONG.. HSBC reported my balance as being higher this month.. $287???? HUH??? i don't get it.. can they do that? Is there anything that I can do?

[Anonymous]

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Makingitbetter_08 wrote:

Ok.. so I have a credit card with HSBC and last month they reported my balance as being $257.. that's fine.. so before this next statement posted I made sure that I paid more to bring my balance down.. I received the statement in the mail and it said that my current balance for that statement is $164.71.. perfect.. so my balance will reflect as being lower on my credit report... WRONG.. HSBC reported my balance as being higher this month.. $287???? HUH??? i don't get it.. can they do that? Is there anything that I can do?

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Need to call them and ask them when they report. Possible they reported BEFORE you paid it down.

Was your balance ever $287?

I wouldn't dispute balance because it could result in any updates to the TL being frozen until dispute is over and it removes the TL from scoring until dispute is over. Worse, it could result in the TL being removed from your report all together.

[llecs]

Welcome to the wonderful world of HSBC: We report when we want to and only if your balance increases.

In general, HSBC reports your balance as seen on the 30th day of the month on that day, give or take a few. They do not go by the statement balance at all.

I say in general because I had a high balance report in March. I paid it to $0 for April 30, and still today, they are reporting that high balance from March. Seems like whenever I pay it down, they delay their reporting. IMO, this is one of the best cards to keep at or under 10%, or sockdrawered.