Jump to content

HSBC Cards Revisited


PotO
 Share

Recommended Posts

A while back a few people were spouting the drivel that even though they were not Premier customers that HSBC informed them they were keeping their non-Premier credit cards.

 

Well, that myth can be laid to rest.

 

HSBC just converted all non-Premier credit cards to their Premier credit card. If you are not a Premier customer and managed to slip through the cracks, your card now has a cute not-so-little annual fee. Virtually nobody has slipped through the crack though and instead had their account transferred to the new bank.

 

 

Sent from my iPad using Tapatalk

Link to comment
Share on other sites


10 hours ago, PotO said:

 

A while back a few people were spouting the drivel that even though they were not Premier customers that HSBC informed them they were keeping their non-Premier credit cards.

 

Well, that myth can be laid to rest.

 

HSBC just converted all non-Premier credit cards to their Premier credit card. If you are not a Premier customer and managed to slip through the cracks, your card now has a cute not-so-little annual fee. Virtually nobody has slipped through the crack though and instead had their account transferred to the new bank.

 

 

Sent from my iPad using Tapatalk

 

 

I just logged on.  My peasant HSBC Platinum Card still shows as a peasant HSBC Platinum Card.

Link to comment
Share on other sites

Question: What is this annual fee?  The HSBC credit card is worth a $0 annual fee, but no more.  An HSBC Premier relationship without the required deposit is $50 a month. I certainly wouldn't spend $600 a year for a credit card. If I wanted to waste about that amount of money on a credit card, I would pick up an Amex Platinum, but I have no intention of that.  

Link to comment
Share on other sites

 
I just logged on.  My peasant HSBC Platinum Card still shows as a peasant HSBC Platinum Card.

It will change sooner or later.

HSBC will only have two credit cards: The Premier card and the Elite card.

All Premier customers who had the Rewards card has recently been upgraded to the Premier card. All others will have their card disposed of.


Sent from my iPad using Tapatalk
Link to comment
Share on other sites

Speaking as someone who had a HSBC credit card for a mere 6 mo about 10 years ago ...

 

No other issuer has occasioned so much popcorn consumption.

This latest chapter may call for extra butter.  < Checking supplies >

Link to comment
Share on other sites

Speaking as someone who had a HSBC credit card for a mere 6 mo about 10 years ago ...
 
No other issuer has occasioned so much popcorn consumption.
This latest chapter may call for extra butter. 

I remember the last time HSBC started curling the herd. Instead of getting FITA as I anticipated, I came out with a $100k CapOne.

Yes, Virginia, there IS a Santa Claus!


Sent from my iPad using Tapatalk
Link to comment
Share on other sites

I'm still confused what was the deal sending the peasant bank accounts to Citizens Bank but not all the peasant credit cards, especially since probably most peasants, like me, had both.

 

Anyway, if I get a notice about some humongous annual or monthly fee unless I become a Premier customer with $75K on deposit, I'll just close the card. No biggie. I have a ton of other credit cards. That said, it's a shitty thing to do to customers with only that credit card where their bank account went to Citizens. 

Link to comment
Share on other sites

I'm still confused what was the deal sending the peasant bank accounts to Citizens Bank but not all the peasant credit cards, especially since probably most peasants, like me, had both.
 
Anyway, if I get a notice about some humongous annual or monthly fee unless I become a Premier customer with $75K on deposit, I'll just close the card. No biggie. I have a ton of other credit cards. That said, it's a shitty thing to do to customers with only that credit card where their bank account went to Citizens. 

From what my account manager told me, all cards from non-Premier customers will disappear. They are just solving logistical issues for now. When solved, sayonara!

He also said that the only non-Premier customers they will retain are those that have Premier status in overseas branches of HSBC.


Sent from my iPad using Tapatalk
Link to comment
Share on other sites

2 hours ago, PotO said:


From what my account manager told me, all cards from non-Premier customers will disappear. They are just solving logistical issues for now. When solved, sayonara!

He also said that the only non-Premier customers they will retain are those that have Premier status in overseas branches of HSBC.


Sent from my iPad using Tapatalk

 

So there is still hope I might become a Citizens credit card holder? LOL.

Link to comment
Share on other sites

 
So there is still hope I might become a Citizens credit card holder? LOL.

Yes, that will be the eventual outcome. LOL


Sent from my iPad using Tapatalk
Link to comment
Share on other sites

  • 3 weeks later...

A couple days ago I used my HSBC peasant MasterCard at Panera Bread to test if it still works. It does. Just now I logged on to pay what I ate there for breakfast. I used my Wells Fargo checking account for the payment.

 

I'm still an HSBC peasant.

 

Link to comment
Share on other sites

1 hour ago, Burgerwars said:

A couple days ago I used my HSBC peasant MasterCard at Panera Bread to test if it still works. It does. Just now I logged on to pay what I ate there for breakfast. I used my Wells Fargo checking account for the payment.

 

I'm still an HSBC peasant.

 


Ditto. Except I bought a small coffee. 

Link to comment
Share on other sites

Posted (edited)

I just received a letter today saying that my HSBC card is converting to some bank that I had never heard of. I'll have to look at the letter again when I get home from work.

Edited by Jeff15
Link to comment
Share on other sites

2 hours ago, Jeff15 said:

I just received a letter today saying that my HSBC card is converting to some bank that I had never heard of. I'll have to look at the letter again when I get home from work.

 

Tell us the name of the bank, unless the name really is "Some Bank That I Never Heard Of." That would be cool. 😉

 

No mail yet today, but my USPS Informed Delivery didn't look like I was getting any mail today from a bank. 

Link to comment
Share on other sites

3 hours ago, Jeff15 said:

I just received a letter today saying that my HSBC card is converting to some bank that I had never heard of. I'll have to look at the letter again when I get home from work.


Yes please do tell us who the bank is. I have not received a letter yet either. 

Link to comment
Share on other sites

Posted (edited)

The letter said the card will be transferred to Premier Finance Card Program (PF|CP) and issued by First Bank & Trust. I have never heard of them. The FAQs say that it is a "family and employee owned South Dakota state bank." Their website is under construction and will launch in the coming months. Sounds like a very sophisticated operation 😀.

 

FAQs are here:

https://www.about.us.hsbc.com/hsbc-in-the-usa/moving-forward/faq-customer-resources

Edited by Jeff15
Link to comment
Share on other sites

17 hours ago, TheVig said:


Yes please do tell us who the bank is. I have not received a letter yet either. 

 

Oh, the suspense. Nothing in my mail yesterday. USPS Informed Delivery shows an envelope from Barclays Bank coming to my house today, but that's not an unknown bank. It's probably some balance transfer offer that I always throw out.  

Link to comment
Share on other sites

Posted (edited)
5 hours ago, Burgerwars said:

 

Oh, the suspense. Nothing in my mail yesterday. USPS Informed Delivery shows an envelope from Barclays Bank coming to my house today, but that's not an unknown bank. It's probably some balance transfer offer that I always throw out.  

Not sure if you saw my post above. The transition is to Premier Finance Card Program (PF|CP) issued by First Bank & Trust. I posted a link to the FAQs.

 

This is my original post:

 

The letter said the card will be transferred to Premier Finance Card Program (PF|CP) and issued by First Bank & Trust. I have never heard of them. The FAQs say that it is a "family and employee owned South Dakota state bank." Their website is under construction and will launch in the coming months. Sounds like a very sophisticated operation 😀.

 

FAQs are here:

https://www.about.us.hsbc.com/hsbc-in-the-usa/moving-forward/faq-customer-resources

Edited by Jeff15
Link to comment
Share on other sites

Posted (edited)
10 hours ago, Jeff15 said:

The letter said the card will be transferred to Premier Finance Card Program (PF|CP) and issued by First Bank & Trust. I have never heard of them. The FAQs say that it is a "family and employee owned South Dakota state bank." Their website is under construction and will launch in the coming months. Sounds like a very sophisticated operation 😀.

 

FAQs are here:

https://www.about.us.hsbc.com/hsbc-in-the-usa/moving-forward/faq-customer-resources

 

I found a First Bank and Trust in Virginia. There's also a First Bank, that has offices in several states, including some I've seen in Los Angeles. I think there is also a third First Bank. Maybe more.  With more than one First Bank, how do we know which is "more first" than the other? I must know the firstest. 🤔

It looks like they're creating a credit card department that doesn't exist at the moment. If this is my new home, the card will basically be one of my sock drawered cards, that I'll use several times a year to buy pencils. This keeps the card active.

Thanks for the info.

 

Edited by Burgerwars
Link to comment
Share on other sites

11 hours ago, Burgerwars said:

 

I found a First Bank and Trust in Virginia. There's also a First Bank, that has offices in several states, including some I've seen in Los Angeles. I think there is also a third First Bank. Maybe more.  With more than one First Bank, how do we know which is "more first" than the other? I must know the firstest. 🤔

It looks like they're creating a credit card department that doesn't exist at the moment. If this is my new home, the card will basically be one of my sock drawered cards, that I'll use several times a year to buy pencils. This keeps the card active.

Thanks for the info.

 


Another addition to the obscure card issuer collection. 

Link to comment
Share on other sites

13 hours ago, Burgerwars said:

 

I found a First Bank and Trust in Virginia. There's also a First Bank, that has offices in several states, including some I've seen in Los Angeles. I think there is also a third First Bank. Maybe more.  With more than one First Bank, how do we know which is "more first" than the other? I must know the firstest. 🤔

It looks like they're creating a credit card department that doesn't exist at the moment. If this is my new home, the card will basically be one of my sock drawered cards, that I'll use several times a year to buy pencils. This keeps the card active.

Thanks for the info.

 

I believe it's this one here: https://www.bankeasy.com/

The web address for the credit card (under construction) is here: http://www.pfcardprogram.com/

 

Imagine how crappy this particular portfolio must be that this was the best buyer they could find.

Link to comment
Share on other sites

1 hour ago, Jeff15 said:

I believe it's this one here: https://www.bankeasy.com/

The web address for the credit card (under construction) is here: http://www.pfcardprogram.com/

 

Imagine how crappy this particular portfolio must be that this was the best buyer they could find.

 

That's probably it.  It must be crappy if HSBC couldn't get the card accounts to move with the bank accounts.  Maybe I'm considered crap, in addition to a peasant, because I never did use the card much. I don't think there is any requirement for HSBC to find a new issuer. I had a credit card with One West Bank closed a couple years ago because One West didn't want to issue cards anymore. Probably they couldn't find anyone to sell or dump the credit card portfolio to, so they closed them all.  One West has since been sold to First Citizens Bank.  Another "first" bank, with an additional word in there.  😕 

Link to comment
Share on other sites

Well at least we aren’t going to First Premier, Credit One, etc. 

 

Can’t wait to see what the card art will look like. 
 

I wonder how many cards HSBC USA has/had in circulation before this round of sell off. What is wrong with the portfolio that caused the big banks to not bite? It can’t be a total sub-prime shyt show. When they entered the US market again with cards, they were not exactly handing them out to just anyone with a pulse as far as I can tell. I mean after all, the HSBC cards were not a feeding frenzy over at the kiddie pool forum. I remember early on seeing a lot of denials over there. Maybe it just wasn’t big enough for the big boys. 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
×
  • Create New...

Important Information

Guidelines