What Credit Agency Does HSBC Use?

Many factors exist for why people would want to submit multiple credit card applications at the same time, such as receiving multiple welcome bonuses at once, receiving more money on the 200 percent annual percentage rate, and more. If a credit card issuer finds an excessive number of recent credit inquiries on your credit report, they may reject your credit card application. If you intend to apply for multiple credit cards at the same time, you should proceed carefully to avoid having your applications denied for the additional credit inquiries.

When credit cards were first introduced, it was possible to apply for several of them simultaneously with different browsers. This used to help avoid the banks from seeing each other’s credit inquiries. This trick is now dead. It is not possible for you to act more quickly and submit a second application before the initial credit inquiry appears because credit bureaus update credit reports in a microsecond.

Thankfully, most credit card issuers only pull one of your three credit reports. Thus, you can apply for more than one credit card as long as you choose the appropriate banks and divide your credit inquiries among the three credit bureaus.

A bank may only pull your credit once if you apply for more than one card on the same day at the same institution. More info on that can be found here.

Here’s a list of which credit bureau each credit card issuer usually pulls. As an alternative, you can look through our Credit Card Database, where users can report in real time which credit bureau was consulted when they recently applied for a loan. Change the credit bureau the bank pulls.

New! Amex will first only perform a soft pull on your credit report with the new “Apply With Confidence” feature, and will notify you whether you are approved or not. Amex won’t pull your credit until you accept the approval; at this time, Amex consumer cards are the only ones that offer this feature. See more details below*).

HSBC, like many other lenders, reports credit card information to credit bureaus. This information helps lenders assess your creditworthiness and determine your eligibility for loans and other credit products.

HSBC reports to two of the major credit bureaus: Experian and Equifax. They may also report to Innovis, a lesser-known credit bureau that specializes in alternative data

Which credit bureau HSBC reports to more often depends on several factors including:

Your home state
Your credit history
The type of credit product you’re applying for

For instance, HSBC might submit more reports to Equifax for applicants in New York than to Experian for those in California.

Here’s a breakdown of which credit bureaus HSBC reports to:

Experian: HSBC reports to Experian for most applicants. Experian is one of the three major credit bureaus, and it’s used by most lenders in the United States.
Equifax: HSBC also reports to Equifax for some applicants. Equifax is another major credit bureau, and it’s used by many lenders in the United States.
Innovis: HSBC may also report to Innovis, a lesser-known credit bureau that specializes in alternative data. Innovis collects data from sources such as utility bills, rental payments, and public records. This data can be used to supplement your traditional credit report and provide lenders with a more complete picture of your financial history.

It’s important to note that HSBC may not report to all three credit bureaus for every applicant. The specific credit bureaus that HSBC reports to will vary depending on the individual applicant’s circumstances.

Here are some additional things to keep in mind:

You can get a free copy of your credit report from each of the three major credit bureaus once a year at AnnualCreditReport.com.
You can also check your credit score for free through a variety of websites and apps.
It’s a good idea to review your credit report regularly to make sure that the information is accurate and up-to-date.
If you find any errors in your credit report, you can dispute them with the credit bureau.

Frequently Asked Questions

What is a credit bureau?

A credit bureau is a company that collects information about your credit history and sells it to lenders. Credit bureaus use this information to create credit reports, which lenders use to assess your creditworthiness.

What is a credit report?

A credit report is a detailed record of your credit history. It includes information about your credit accounts, such as your payment history, credit limits, and balances. Credit reports also include information about your public records, such as bankruptcies and judgments.

What is a credit score?

A credit score is a numerical representation of your creditworthiness. It is based on the information in your credit report. Lenders use credit scores to assess your risk of defaulting on a loan.

How can I improve my credit score?

There are many things you can do to improve your credit score. Some of the most important things include paying your bills on time, keeping your credit utilization low, and avoiding opening too many new credit accounts.

Additional Resources

Apple Card – Goldman Sachs

Apple card -Goldman Sachs Bank will only do a soft pull when you apply. They will inform you of your approval status and the credit limit you have been granted. A hard pull will only be performed once you accept the approval. They will usually pull either your Equifax or Transunion credit report.

By freezing Transunion and Equifax after preapproval but before the final decision, some have been able to avoid the hard pull.