Here is the official update from the developer:
We are aware that some players are having difficulty transferring their Badass Rank and / or character customizations from their previous gen characters.
A fix for this issue has been submitted for testing and will be released as soon as possible once testing is complete. The solution involves a small update to Borderlands: The Handsome Collection for Xbox One.
After updating, users will be able to transfer the Badass Ranks and Customizations associated with their accounts to Borderlands: The Handsome Collection by re-download a game save using the “Cloud Save” feature in the Borderlands: The Handsome Collection Main Menu. Visit the Cross/Cloud Save Knowledge Base Article for information on this feature.
Once this update is available, players will be able to restore their Badass Rank and customizations while maintaining their current mission progress per the below:
- If the Badass Rank from your uploaded previous-gen character save is higher than your current Handsome Collection Badass Rank, your Badass Rank will be overwritten with the higher value.
- Customizations from your previous-gen character save will be added to your Handsome Collection account profile.
- Any mission progress you made prior to the update can be saved by selecting “Save As New” instead of “Overwrite” when re-downloading your save post-update.
For the meantime, please do not delete your previous gen save files as re-uploading them may be part of the eventual solution. It is completely safe to continue playing The Handsome Collection.
Here is the official tweet:
An update to resolve cross-save issues with The Handsome Collection on Xbox One has recently entered testing. https://t.co/GcDD0joBvj
— Gearbox Software (@GearboxSoftware) March 26, 2015