I've been using a Timex HRM for a few months now and recently the HRM strap seems to be leaving 2 bright red marks on my chest where the sensors pads are. They look like sunburn marks and go away after an hour or so.
At first I thought that the strap might be too tight (which it's not) but if that were the case, the entire strap should leave a mark and not just the two sensor pads.
This never happened when I first started using the HRM and I always wet the sensor pads thoroughly before wearing the monitor.