Has HSBC impacted your credit score? If HSBC reduced your available credit to what you owe plus one dollar, the bank certainly effected your credit score.

Consumer credit scores are based on five primary factors.

Your payment history accounts for 35 percent of the score. That’s followed closely by the ratio of the amount owed versus the total credit available. That accounts for 30 percent of the FICO score. The rest is 15 percent based on the length of credit, 10 percent based on new credit and 10 percent is the types of actual credit used.

Compared to Chase and Citigroup, HSBC offers very little value, poor support, and questionable payment processing. Our ten-year study shows HSBC credit card holders can still find a better, more reliable deal elsewhere. The study is unofficial, and is based on complaints and audits of Chase and Citigroup.

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