07-23-2011 10:29 PM
I have been a loyal and avid shopper at Best Buy for years. Everytime I have had the desire or need to purchase something electronic, I have brought my funds to the store a walked away happy.
A few years back I decided to get a Best Buy card to make a rather large purchase and to take advantage of the program. I have had the card ever since. Making purchases, paying the payments and so on. Fast forwarding to the current day.....
Recently I have been monitoring my credit score because we are getting ready to purchase a house. This is a first for us and it is an exciting time. However, there is a HUGE problem that may hinder the situation. I'm a normal person, far from perfect. Earlier this year I got behind on some payments because lack of funds. I've made payments still, sometimes late, sometimes not the full amount. I understand the necessary late fee's applied, my fault, my punishment. That is not the problem. The problem is that a couple of month's ago, I caught my account up fully thus bringing it back to current.
Last month I had a flag on my credit report stating that the HSBC Best Buy was 30 days late. Naturally I was not happy so I called HSBC. The call resulted in what I would consider a run around. They stated that the credit reporting runs a month behind. This makes absoultely no sense to me. My statement's are always in at the first of the month, I paid on my account ON TIME and for more than what was due and yet, they reported it 30 days past due? I took their run around conversation for what it was worth and let it go.
So here we are in July, new month new statements. Again, I get flaged on my credit report, HSBC Best Buy 30 days past due!?!?!?!? I called again, severely upset for lack of a better word. They explained to me that the report was made due to the incidences earlier this year (ie March and April) Now I'm no genius by any means, but March was 4 months ago and they are reporting that now here in July?!?!?! My credit score is tarnished because of HSBC/Best Buy and the reality of buying our first house is looking glim. My credit score was good, in the area it needed to be to make our dream and goal happen, now it is belwo where it needs to be.
I called HSBC and got nowhere. They want me to send them a copy of my credit report as well as a letter stating what the issue is. I explained to them that they obviously have a $#@%^&* copy if they are reporting me. They know when and what payments I've made. Why do I need to proove this to them, if they clearly already have the same information I do?
I've thought about paying off my account in full which would be the best option. The truth is, I just don't have the extra funds to do so. As I mentioned, we are trying to buy a house and all the extra funds we have are being saved for down payments. Besides, I can pay it off which in turn would delay things a bit, but even if it is paid off in full they will still report me 30 days late.
Due to this situation, I will no longer spend my hard eaned funds at Best Buy, nor will I support them. I've helped them out in many ways, not only as a loyal customer, but as well as advising friend's and family to go there for the best service. I'm done.
Solved! Go to Solution.
07-24-2011 08:36 AM
I explained to them that they obviously have a $#@%^&* copy if they are reporting me. They know when and what payments I've made. Why do I need to proove this to them, if they clearly already have the same information I do?
They do not have the same copy that you would have. They have your information that they would need to report to the credit agency. It sounds like a system issue and they are asking for a copy of your receipts and credit report so they can look at what is going on and make any corrections. Why not actually help them out and get them what they need rather than making it harder for them to help you.
07-24-2011 09:54 AM
07-24-2011 11:15 AM
LMAO! Mad because I can't pay bill's on time? You need to pay better attention to what your read, or try to read.
I stated that I got behind, my fault my punishment. For that I understand. At no point did I state that I was upset about this.
I'm sure that in Houston, life is full of perfectness and there are no errors. Here in the rest of the world, thing's happen that
are uncontrollable for various situations. This is something that I need not explain, my business.
What I am upset about, now try to pay attention to this, is the fact that they are reporting issues from 3-4 months ago that are
affecting the credit score. That is the issue and the source of anger. I know it may be hard to understand, but that is indeed
the issue here.
07-24-2011 12:34 PM
07-24-2011 09:54 PM
07-24-2011 10:06 PM
George, Thanks for your input. Habitually making late payment's? Not the case here. As I stated, I got behind earlier this year, EARLIER THIS YEAR.
Again I need not explain why or what happened. It's not like I woke up one day and said "Well, I guess I won't pay my bill's for a while"
Your absolutley correct, the system is FUBAR and yes I am getting burned from something that happened a few month's ago.
That is the issue. I could and fully would understand if I had some recent issues and this all went down last month. But to report
something from a few month's back? Again, Thanks for your input and assessment......
Ryan, Thanks for the update!!
07-24-2011 10:34 PM
It's possible HSBCs "data tapes" they report may be off. That's why they typically ask you to fax in a copy of your report. Believe it or not credit reporting can be quite complicated between not only billing systems but also systems like eOSCAR or Bullseye.
07-24-2011 10:38 PM
It's possible HSBCs "data tapes" they report may be off.
Or, it's entirely possible that they just didn't get to reporting the previous late payments and once a worker noticed it, they submitted it for the report. I'm not aware of any rules/regulations that state if a bank doesn't report your late payments within a specific amount of months, then they cannot ever report them.
It almost sounds like you were hoping to have gotten away with the late payments without them on your credit report and are now angry that your payment history was actually reported, however late it may have been.