HSBC Officially Sold Card Business to Capital One!!!!

[snark]

Hmm, bad Karma here....

 

Had nothing but headaches with CRAP ONE back in the late-90s....made the mistake of "settling" with them on a CO back then and they destroyed my report on a monthly basis up until about 3 years ago....

 

Now I'm up in the 700s with no mention of them on my CR.

 

When I log on to my HSBC accounts (BBRZ and Orchard) There is a news story on BBRZ that corresponds to the topic subject here. There is no such news update on Orchard.

 

So I guess the implication is that BBRZ is/will be a CRAP ONE product soon, if it isnt already. Orchard is unclear.

 

I will not do business with CRAP ONE again. The first day I see it reporting as such it will be closed.

The BBRZ is sockdrawered anyways, so it should be easy....will probably hurt util when I close it tho....

 

This is a work in progress. BUT I will NOT do business with Crap One .....

[Unmet Potential]

Hmm, bad Karma here....

 

Had nothing but headaches with CRAP ONE back in the late-90s....made the mistake of "settling" with them on a CO back then and they destroyed my report on a monthly basis up until about 3 years ago....

 

Now I'm up in the 700s with no mention of them on my CR.

 

When I log on to my HSBC accounts (BBRZ and Orchard) There is a news story on BBRZ that corresponds to the topic subject here. There is no such news update on Orchard.

 

So I guess the implication is that BBRZ is/will be a CRAP ONE product soon, if it isnt already. Orchard is unclear.

 

I will not do business with CRAP ONE again. The first day I see it reporting as such it will be closed.

The BBRZ is sockdrawered anyways, so it should be easy....will probably hurt util when I close it tho....

 

This is a work in progress. BUT I will NOT do business with Crap One .....

 

i hope you don't mind me chiming in, but...

why close it before you pay it off? if it is in the sock drawer, keeping it open until it is paid off only keeps you from having the utilization issue you mentioned. it isn't doing any more business with C1 than if you close it & pay it off closed. you're still going to pay it off if you close it, so why not take the course that doesn't harm you?

 

thanks for the opportunity to share unbidden advice!

Edited August 11, 2011 by Unmet Potential

[Mazda CX-7]

I have two capital one cards and an HSBC card.. I wonder how that will play out with the max Capital One card amount being two right?

Edited August 11, 2011 by Mazda CX-7

[Joi27]

According to the HSBC website, Premier CC accounts will stay with HSBC. I've read conflicting reports about whether the non-Premier HSBC-branded CCs will stay with HSBC or not.

 

I just called CS to find out whether my HSBC-branded CC is converting to Capital One, and none of the CSRs had a clue. FAIL :/

[foeplay]

Does Cap1 have the luv button?

[TheBanker]

Does Cap1 have the luv button?

 

No. They have the unluved button.

[lsacto]

The notice is up on the Orchard site... Lets see where this goes

[foeplay]

The notice is up on the Orchard site... Lets see where this goes

It's going to the moon imo.

[Doodah]

This is what I took away from the info released by HSBC: all HSBC labeled cards will stay with HSBC. All other credit card accounts (Household, DirectMerchants (Account Central), Orchard, and retail cards) will be sold to Cap1.

Edited August 11, 2011 by Doodah

[Ron1]

This is what I took away from the info released by HSBC: all HSBC labeled cards will stay with HSBC. All other credit card accounts (Household, DirectMerchants, Orchard, and retail cards) will be sold to Cap1.

 

 

I thought HSBC Premier World Mastercard and HSBC Platinum Mastercard are the only two stay with HSBC. Those two are for HSBC Banking Customers. The rest of them will sold to Cap1.

 

Those two cards:

 

link:

 

https://www.us.hsbc.com/1/2/3/personal/cards

 

 

Ron.

[Doodah]

This is what I took away from the info released by HSBC: all HSBC labeled cards will stay with HSBC. All other credit card accounts (Household, DirectMerchants, Orchard, and retail cards) will be sold to Cap1.

 

 

I thought HSBC Premier World Mastercard and HSBC Platinum Mastercard are the only two stay with HSBC. Those two are for HSBC Banking Customers. The rest of them will sold to Cap1.

 

Those two cards:

 

link:

 

https://www.us.hsbc.com/1/2/3/personal/cards

 

 

Ron.

 

Yes. I believe that is what I stated.

[Ron1]

Does Cap1 have the luv button?

 

 

foeplay,

 

We don't have too many CLI when we have the button. I'm going to miss 1 hard free CLI for my Best Buy store Card every six months.

 

 

Ron.

[foeplay]

I wonder if they will get rid of Orchard and Household banks and just give everyone Cap 1 cards.

[butterflywings]

We bank with HSBC, our mortgage and checking account is with them. Can someone tell me if our Debit HSBC Mastercard, which is linked to our checking account through a line of credit, is that being sold to Capital One too? God I hope not.

[Ron1]

We bank with HSBC, our mortgage and checking account is with them. Can someone tell me if our Debit HSBC Mastercard, which is linked to our checking account through a line of credit, is that being sold to Capital One too? God I hope not.

 

 

It depends where you are. If you are NY, those accounts will sell to First Nigara. If you have online accounts or those in CA, it will stay with HSBC. That what I understand.

 

 

Ron.

[Ron1]

I wonder if they will get rid of Orchard and Household banks and just give everyone Cap 1 cards.

 

 

Yes. except those cards showing in that link:

 

https://www.us.hsbc.com/1/2/3/personal/cards

 

I almost wanted to apply for Skas Fifth Ave Elite World MC yesterday when I was inside the store.

 

Ron.

Edited August 11, 2011 by Ron1

[Doodah]

Cap1 will have Saks Fifth Avenue, Neiman Marcus, Best Buy, Kohl's, and Hudson’s Bay Company. The latter two were purchased from other banks.

Edited August 11, 2011 by Doodah

[foeplay]

One of my friends works for Household branch now HSBC in Salinas, CA. I wonder if he's gonna lose job. Don't want to text and find out since that's gonna suck if he is.

Edited August 11, 2011 by foeplay

[butterflywings]

We bank with HSBC, our mortgage and checking account is with them. Can someone tell me if our Debit HSBC Mastercard, which is linked to our checking account through a line of credit, is that being sold to Capital One too? God I hope not.

 

 

It depends where you are. If you are NY, those accounts will sell to First Nigara. If you have online accounts or those in CA, it will stay with HSBC. That what I understand.

 

 

Ron.

 

Thanks for responding. I'm in NY (Buffalo area), and my local branch is turning into First Niagara. I only know that because of the news and asking the drive thru girl. We, as customers, haven't received any notification of any of this.

[Ron1]

One of my friends works for Household branch now HSBC in Salinas, CA. I wonder if he's gonna lose job. Don't want to text and find out since that's gonna suck if he is.

 

 

Sorry to hear. He might still have a job because HSBC will keep HSBC branded Mastercards.

 

 

Ron.

Edited August 11, 2011 by Ron1

[Doodah]

One of my friends works for Household branch now HSBC in Salinas, CA. I wonder if he's gonna lose job. Don't want to text and find out since that's gonna suck if he is.

 

 

Sorry to hear. He might still have a job because HSBC will keep HSBC branded Mastercards.

 

 

Ron.

It was actually included in the sale. They will be offered jobs with Cap1.

[Doodah]

Being reported that Cap1 MAY (not shall) choose to cut credit limits of those customers with HSBC and Cap1 accounts to minimize risk.

 

...the company may cut the credit limits of customers with blemished credit to account for the added risk that comes with being exposed to the same lower-scoring customers twice.

[Ron1]

One of my friends works for Household branch now HSBC in Salinas, CA. I wonder if he's gonna lose job. Don't want to text and find out since that's gonna suck if he is.

 

 

Sorry to hear. He might still have a job because HSBC will keep HSBC branded Mastercards.

 

 

Ron.

It was actually included in the sale. They will be offered jobs with Cap1.

 

 

I hope those CSR from India will not be part of the sale.

 

 

Ron.

[Doodah]

Cap1 outsources to India and Pakistan.

[Ron1]

We bank with HSBC, our mortgage and checking account is with them. Can someone tell me if our Debit HSBC Mastercard, which is linked to our checking account through a line of credit, is that being sold to Capital One too? God I hope not.

 

 

It depends where you are. If you are NY, those accounts will sell to First Nigara. If you have online accounts or those in CA, it will stay with HSBC. That what I understand.

 

 

Ron.

 

Thanks for responding. I'm in NY (Buffalo area), and my local branch is turning into First Niagara. I only know that because of the news and asking the drive thru girl. We, as customers, haven't received any notification of any of this.

 

 

Here is the the link for the sale:

 

 

http://www.hsbcusa.com/ourcompany/pressroom/2011/news_07312011_branch_sale.html

 

 

FAQ:

 

http://www.hsbcusa.com/ourcompany/pressroom/2011/news_07312011_branch_sale_faqs.html

 

 

Ron.