Credit Report. Should I Be Worried?

Factual Questions
1

I just checked my credit report online. Last time I checked it, about a year ago, I called all the accounts that were open that I don’t use to close them. This time, there was still a pesky HSBC credit card that I couldn’t seem to find the number for this time.

Which leads me to my first question: There was a security hold on my account, and the first gal couldn’t close it without sending me to the security department. They said they closed the account, but couldn’t send me a letter because of the hold, and they wouldn’t take it off. They wanted a copy of my drivers license and two utility bills. I told them that would be a pain in the ass. **Will this in any way present a problem in the future? ** I do not want to do business with them again (for one, their CS number is not toll free, and I’m already satisfied with my current bank’s card), so that is not a concern.

My second question: When I pulled up “credit inquiries”, there were about 15 there. Now, I have a recent car loan, plus a couple recent student loans. But I don’t remember or recognize all 15 or so of the inquiries. In fact, some of them are from banks that I get “0%” offers from all the time, that I just destroy without opening. Should I worry about this one?

2

You can opt out of any more credit offers by going to OptOutPrescreen.com or by calling 1-888-5-OPTOUT (1-888-567-8688) . This is the official opt out service recommended by theFederal Trade Commission website.

Generally, those credit inquiries do not count against you in the calculation of the your credit score.

3

Awesome, thanks for the quick responses. Concerning my first question, does anybody know if it’s bad to have a security hold on a closed account?

4

Shouldn’t be too harmful if it’s noted as “closed at consumer’s request” or some similar phrase as opposed to “closed due to prolonged delinquency.”

FWIW, it can hurt your score a bit to close established accounts (aka “tradelines”) that are in good standing.

5

If they mean the same thing by “security hold” as my company does, it shouldn’t have any effect on your credit rating. A security hold at my company means that the risk management department has spotted activity on the account which is unusual in comparison to your usual spending patterns. You only use the card to buy groceries and suddenly charges at jewelry stores start appearing, or your charges are all in New Mexico and suddenly charges start coming through from Europe. The hold is not reported to the credit bureaus. Often the hold can be released from an open account by speaing with the cardholder and verifying charges (or confirming fraud, which necessitates sending a new card with a different number). I’m assuming they won’t send you a letter without the identification documents because of confidentiality concerns or the off chance that a scammer who’s stolen your identity could use the letter somehow to continue perpetrating a fraud.

6

Not a good idea. Just in case someone’s fraudulently opened an account in your name.