107 replies to this topic

[Ron1]

link:


http://www.hsbcusa.c..._card_sale.html

FAQ:

http://www.hsbcusa.c..._sale_faqs.html

Ron.

Edited by Ron1, 10 August 2011 - 03:28 AM.

[markca]

11. Will anything change with the interest rate or fees on my card?

There are no changes to your account today. Upon completion of the sale, you will be notified if there are any changes to your interest rate or fees.

Will be interesting to see how that pans out.

Here's to hoping I can get at least one more CLI in on my Best Buy store card before this takes place. Then again I wouldn't be surprised if they put a stop on all CLI's, if they haven't already.

Edited by markca, 10 August 2011 - 03:34 AM.

[clambert1273]

Well that made my decision easy... Pay it off tomorrow and close it...

[gnarlywood]

When something like this happens, the TLs on the CRs change to the new bank, right? I had a WaMu go Chase, but I don't think I looked at my CRs for the brief time it was still WaMu. What if it's closed like tomorrow... Will it change to CapOne in time? I was going to close the HSBC card in a couple of months anyways, but I have a CapOne from 1999 as my oldest TL and I'd kinda rather there not be a "newer" smaller closed CapOne TL showing.

Edited by gnarlywood, 10 August 2011 - 05:00 AM.

[chi]

When something like this happens, the TLs on the CRs change to the new bank, right? I had a WaMu go Chase, but I don't think I looked at my CRs for the brief time it was still WaMu. What if it's closed like tomorrow... Will it change to CapOne in time? I was going to close the HSBC card in a couple of months anyways, but I have a CapOne from 1999 as my oldest TL and I'd kinda rather there not be a "newer" smaller closed CapOne TL showing.

It is expected that closing of the transaction will take place in the first half of 2012.

The Business to be sold does not include HSBC Bank USA’s US$1.1bn credit card programme. HSBC Bank USA will continue to offer credit cards to its customers.

Which cards would be under the HSBC Bank USA?

I have two cards with them, one is the weekend card (or whatever it is called these days) and an AF card. I know the AF card would go to Cap One but what about the weekend card?

[firefighter 161]

The Business to be sold does not include HSBC Bank USA’s US$1.1bn credit card programme. HSBC Bank USA will continue to offer credit cards to its customers.

Which cards would be under the HSBC Bank USA?

I have two cards with them, one is the weekend card (or whatever it is called these days) and an AF card. I know the AF card would go to Cap One but what about the weekend card?

I have 3 cards from HSBC and also wonder which ones will go to Capital One and which will stay with HSBC (if any):

HSBC branded Discover Card
Direct Merchants Bank branded Discover Card
Household Bank MasterCard

I understand its early and doesn't really matter, I guess I am just curious....I am 99% the Household will go but the Discovers aren't very clear

[Roland99]

My Household Bank card is my oldest active TL. I'd just as soon not lose that as an active TL! Not too worried about the no CLI thing as HSBC has been very stingy with those anyway (although my Household and the BBRZ both got some small bumps this year)

[jph5125]

The BBRZ accounts better transition like Kohl's did by not generating "new" accounts or there will be hell to pay.

[wanabe]

I have 2 Household Bank CC, one being my oldest at 9 years.
I just paid the annual fee this month on the oldest.
The 2006 one I am closing in Nov. and Crap one I am closing next month. Waiting to close the oldest Household card next year in hopes that maybe I will get 2 10 year cards out of the deal.
If not good bye Household and Crap1.

[gabbyraja]

Dh has 3 lates remaining on his Orchard card. I've been GWing like crazy and gotten nowhere. It also happens to be his oldest open account. Should we just close it and then try to dispute it right off? Give up a lost cause? I can't remember how difficult it is to GW w/CapOne (never paid a lot of attention to those threads), but it seems like I've seen a lot of "Never gonna happen" type responses. I have a feeling I'm getting no traction w/HSBC because they're giving up on it all, and I'd have better luck just closing it b4 the annual fee in Jan. I've only kept it open this long because it was the oldest and because I'd have a better chance at GW.

[iWhat]

Thinking of closing my discover with them....

[Burgerwars]

When something like this happens, the TLs on the CRs change to the new bank, right? I had a WaMu go Chase, but I don't think I looked at my CRs for the brief time it was still WaMu. What if it's closed like tomorrow... Will it change to CapOne in time? I was going to close the HSBC card in a couple of months anyways, but I have a CapOne from 1999 as my oldest TL and I'd kinda rather there not be a "newer" smaller closed CapOne TL showing.

It is expected that closing of the transaction will take place in the first half of 2012.

The Business to be sold does not include HSBC Bank USA’s US$1.1bn credit card programme. HSBC Bank USA will continue to offer credit cards to its customers.

Which cards would be under the HSBC Bank USA?

I have two cards with them, one is the weekend card (or whatever it is called these days) and an AF card. I know the AF card would go to Cap One but what about the weekend card?

I have a HSBC checking, debit card and HSBC credit card ($12.5k limit) that I manage by logging on to the same website for the checking (I can transfer money from HSBC checking to the credit card). I'm guessing that card remains with HSBC. If HSBC is still thinking of having branches and retail products in the U.S. (checking, savings, etc.) I would assume that they would still offer credit cards, to match and remain competitive with other banks. I'm not HSBC Premier, but their HSBC Premier credit card is a component of that service. To not offer credit cards in the U.S. with Premier would diminish the value of that service.

Edited by Burgerwars, 10 August 2011 - 09:36 AM.

[foeplay]

Dh has 3 lates remaining on his Orchard card. I've been GWing like crazy and gotten nowhere. It also happens to be his oldest open account. Should we just close it and then try to dispute it right off? Give up a lost cause? I can't remember how difficult it is to GW w/CapOne (never paid a lot of attention to those threads), but it seems like I've seen a lot of "Never gonna happen" type responses. I have a feeling I'm getting no traction w/HSBC because they're giving up on it all, and I'd have better luck just closing it b4 the annual fee in Jan. I've only kept it open this long because it was the oldest and because I'd have a better chance at GW.

This definitely deserves it's own thread as it's only going to get lost in a thread like this.

[HoldenMcGroin]

Well there's no getting away from being a Cap1 customer now. First ING, now this.

[foeplay]

This will be my first Cap1 product ever, they cant be worse than HSBC.

[blackberry74]

I'm also wondering if my 2 HSBC cards will now be branded as Cap1...that will give me 3 Cap1 cards and that's a bit much. I may app for a couple of new cards and close down those 3 altogether as they all charge annual fees and haven't granted CLIs since Hector was a pup. Pretty sure I can get 2 or 3 prime cards and ditch those now.

[LS1]

I've been pretty happy with Cap 1 so far, online payment and monitoring of my two accounts is easy. Can't imagine having 4 Cap 1 branded cards though, especially if they're all going to stay at the sub-prime level. My AF for Orchard is due right about now, maybe I should go ahead and call in to cancel. I was going to hold on to it one more year for the heck of it but it isn't going to hurt to drop them earlier either way.

[CIO]

When something like this happens, the TLs on the CRs change to the new bank, right? I had a WaMu go Chase, but I don't think I looked at my CRs for the brief time it was still WaMu. What if it's closed like tomorrow... Will it change to CapOne in time? I was going to close the HSBC card in a couple of months anyways, but I have a CapOne from 1999 as my oldest TL and I'd kinda rather there not be a "newer" smaller closed CapOne TL showing.

It is expected that closing of the transaction will take place in the first half of 2012.

The Business to be sold does not include HSBC Bank USA’s US$1.1bn credit card programme. HSBC Bank USA will continue to offer credit cards to its customers.

Which cards would be under the HSBC Bank USA?

I have two cards with them, one is the weekend card (or whatever it is called these days) and an AF card. I know the AF card would go to Cap One but what about the weekend card?

I get the feeling that HSBC is going to hold on to their "Premier" card portfolio, which has CCs only offered to their $100k+ deposit banking clients, and punt everything else to Cap 1.

[bostonte]

My business' Northern Tool card just received a notice in the mail that the account is being transferred to HSBC Bank, NA. from HSBC Retail Card Services.

Seeing that they say they are keeping the HSBC Bank portfolio, but including the private label retail cards, that's odd.

[Mr. Media]

I'm just gonna ride it out and see what happens. The $700 HSBC MasterCard I have is one of my oldest TLs so even if I despised CapitalOne, I don't want to kick myself in the nuts like that just yet and close it.

I suspect the "business decision" HSBC quotes as their reason for not increasing credit limits the past year+ is rooted in the fact that they wanted to sell the business. While its not the case around these parts with all the PIF peeps, but I'm sure as a whole if they increased everyone's credit lines across the board it would mean a rise in the overall outstanding balances, and would make the target price for a sale more expensive and harder to move in this environment.

As has been said here by a few others, I don't think CapOne can be any worse than how HSBC has been treating people the past few years.

My only hope is that CapOne doesn't set some kind of aggregate account limit and then, once merged, force some closures, or reallign everyone's overall CLs by doing some reductions or something. Hopefully they just ingest the new accounts, evaluate them on their own merits, and let them keep on keepin' on...

Edited by Mr. Media, 10 August 2011 - 11:01 AM.

[TheBanker]

Hmm, I wonder if this means my HSBC credit card issued by HSBC Bank, N.A., will be kept with HSBC...

I hope so. It has a $9,500 limit, and I'd really prefer not to close it, but I really am not a fan of CrapOne, so...

[Jeremy09]

This means I'll have four Capital One cards. My BBRZ is old but I'm going to close that. Also closing my two CapOne MC's. They're useless to me.

I have a balance on my BB Store Card but it's small and at 0%. However, I'm on "Plan B" and I'm at the max CL for that plan. Once that's paid off, I might just close it as well.

Capital One has never done anything bad to me but I don't love them. Never had a CLI with them, other than credit steps. Perhaps I should try for a Venture card?

[Ulan]

Hmm, I wonder if this means my HSBC credit card issued by HSBC Bank, N.A., will be kept with HSBC...

I hope so. It has a $9,500 limit, and I'd really prefer not to close it, but I really am not a fan of CrapOne, so...

It should stay with HSBC, if I read the announcement correctly. They will keep 260 branches and their own cards.

[Ron1]

I think I got to keep HSBC Cash Back Platinum Mastercard and they're not going to sell Cap 1.


Ron.

[Ron1]

Well that made my decision easy... Pay it off tomorrow and close it...

Cap1 is better than FIA, Chase. They haven't done to my 2 Cap1 cc. It's hard to ask for CLI. They're ok. in my book.


Ron.