topic Re: MY BBRZ Platinum just became Cap1 Cards!!!! in Credit Cards

MY BBRZ Platinum just became Cap1 Cards!!!!

Ron1 — Sat, 05 May 2012 20:47:35 GMT

I received a denial letter from HSBC Card Services (now part of Cap1) and the reason were too many accounts recently opened and unable to increase limit within six months since last increase. By the way, they pulled hard from TU. No more soft pull. In the letter, Best Buy Platinum MC is now issued by Cap1. I thought thy weren't going to sell it to Cap. I was wrong. Only card is staying with HSBC is my HSBC Cash Back Platinum MC. No hard pull for CLI. I think BB store card still have soft pull for CLI at this moment.

Ron.

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

scottwagnon — Sat, 05 May 2012 20:54:56 GMT

congrats. let us know if the terms of your card will be updated to reflect no foreign transaction fees.

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

Ron1 — Sat, 05 May 2012 21:04:18 GMT

scott,

I don't think they will change anything now. The denial letter still said HSBC from Las Vegas. At the bottom of the letter, you account is no longer serviced by HSBC Card Services Inc. I want to see what my statement will look like. My HSBC Cash Back Platinum is the only card staying with HSBC. They sent me a replacement card with the letter a month ago. I think your HSBC Cash Back Platinum will stay with HSBC. My BB store card and Costco became Cap1.

Ron.

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

LS2982 — Sat, 05 May 2012 21:06:05 GMT

I really hope they don't get stingy with CLI's......I may close it if that happens.

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

scottwagnon — Sat, 05 May 2012 21:15:26 GMT

Ron1 wrote:

HSBC Cash Back Platinum will stay with HSBC.

Ron.

true, but i read on Bloomberg that i believe the hsbc bank usa credit (platinum and rewards, not premier) is moving to First Nigagra.

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

Ron1 — Sat, 05 May 2012 21:17:18 GMT

LS2982 wrote:
I really hope they don't get stingy with CLI's......I may close it if that happens.

LS2982,

You won't get any CLI with Cap 1. not even a stingy $200. I have had two Cap1 cards for over 10 years and I haven't gotten any. I called them and they told me my type of account weren't qualified for any increase. My cap1 account type is subprime.

Ron.

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

Ron1 — Sat, 05 May 2012 21:19:18 GMT

scottwagnon wrote:
Ron1 wrote:

HSBC Cash Back Platinum will stay with HSBC.

Ron.
true, but i read on Bloomberg that i believe the hsbc bank usa credit (platinum and rewards, not premier) is moving to First Nigagra.

scott,

They only sold all New York branches to First Nigara. Not Credit Cards. They're going to keep it.

Ron.

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

Mike360 — Sat, 05 May 2012 23:04:20 GMT

Cap1 does give credit limit increases on the store cards. I just received a increase from $300 to $1500 on my Kohls Card that is Cap1. With no hard pull i may add.
And i called in to request this increase. Trust me i was surprised.

Now i've had my platinum card since 2004 and started out @ $500 and had increases to $1000 then it was upped to $1500 all within 2 years of opening it and have had nothing since. They offer no upgrades to me and they won't help with the $60/yr AF.

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

Mike360 — Sat, 05 May 2012 23:10:28 GMT

Also if you go to Manage Your Account on bestbuy.com you'll see that as of May 1 both the store card and mastercard are owned by cap one now.

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

logan_720 — Sun, 06 May 2012 03:29:17 GMT

There's still no way to pick which one to apply for :(

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

Brusilov — Sun, 06 May 2012 03:40:19 GMT

Strangely though when you go to apply it lists terms for both the store card and the mastercard....but the mastercard annual fee is either $39 or $59. I don't see a no annual fee version of the card being offered anymore.

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

scottwagnon — Sun, 06 May 2012 03:55:44 GMT

vonMannstein wrote:
Strangely though when you go to apply it lists terms for both the store card and the mastercard....but the mastercard annual fee is either $39 or $59. I don't see a no annual fee version of the card being offered anymore.

they won't reveal that you can qualify for the platinum rzmc, because you have to have phenomenal credit. Less than 10% of applicants will qualify for this card.

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

Brusilov — Sun, 06 May 2012 03:56:42 GMT

Then they've discontinued the gold w/ no AF (that's what I currently have)?

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

logan_720 — Sun, 06 May 2012 04:14:28 GMT

If you look at the terms, it lists the card that has no annual fee first, with a 21% interest rate, and then if you scroll further, it lists the Mastercard version, with a $39-$59 AF.

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

Brusilov — Sun, 06 May 2012 04:21:06 GMT

I know, but not too long ago there were 4 Best Buy cards:

Store Card (6-12mo etc financing)

Mastercard Gold w/ Fee

Mastercard Gold w/ No Fee

Mastercard Platinum (also no fee)

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

scottwagnon — Sun, 06 May 2012 05:01:31 GMT

logan_720 wrote:
If you look at the terms, it lists the card that has no annual fee first, with a 21% interest rate, and then if you scroll further, it lists the Mastercard version, with a $39-$59 AF.

Not anymore. It's different now. The objective here appears to obtain store credit, rather than a MasterCard. They provide a builder card if your credit is subpar, in order to encourage you to come back and buy more from them. However, they need to encourage the elite to buy elite tvs from them and not some specialty retailer, so they quietly provide a sparkling platinum for the top 5 to 10 percent.

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

logan_720 — Sun, 06 May 2012 05:11:45 GMT

So from what I am reading now, the "store card" seems to be geared toward what the previous Mastercard was targeted towards, as the store card now has the higher interest rate, it being 25.24-27.99% and not carrying an AF, while the Mastercard has a lower, 21.74% interest rate, and DOES carry an AF...it seems like Capital One restructured this, because when I apped I recieved the Mastercard with a 25% interest rate, a $300 limit, and a $59 AF...I'm probably just spouting off info that you already know, so I'll just stop :smileylol:

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

Ron1 — Sun, 06 May 2012 12:47:01 GMT

More info about the sale of HSBC cards to Capital One:

http://www.cardhub.com/edu/hsbc-credit-cards-become-capital-one-credit-cards/

Ron.

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

LS2982 — Sun, 06 May 2012 12:53:22 GMT

Has anyone asked for a CLI now that Cap1 has the BB store card?

Re: MY BBRZ Platinum just became Cap1 Cards!!!!

Ron1 — Sun, 06 May 2012 12:57:19 GMT

FAQs - Best Buy's Credit Card Portfolio (HSBC) Transitioning to Capital One:

http://forums.bestbuy.com/t5/Best-Buy-Geek-Squad-Policies/FAQs-Best-Buy-s-Credit-Card-Portfolio-HSBC-Transitioning-to/td-p/509419

Ron.