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zro30
Posts: 61
Registered: ‎07-07-2008
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All this talk about HSBC...questions?

[ Edited ]

Hello,

 

All of this talk about HSBC and their recent actions has me a little concerned.  I just opened an acct. with them and wonder if I should accept it now.

 

I didn't realize that my scores were as good as they are and thought I would only qualify for an HSBC card, so I applied and was approved for the Platinum Visa Rewards, $1,050.00 limit.

 

I got curious from my approval and decided to pull my scores and realized they were: TU- 758, EX - 699, EQ - 788 (much higher than I thought) so after some quick reading on here I decided to try for a Nordstrom Visa.  I apped and was approved for $10,000.00 CL (whoo-hoo).

 

Now I'm concerned that if they see the HSBC card report (which I don't know that they will), they're going to drop my limit or something similar. 

 

I haven't even activated the HSBC card yet... 

 

Do you think I should be concerned?

 

Thanks

Message Edited by zro30 on 02-24-2009 12:53 PM
Epic Contributor
Creditaddict
Posts: 22,064
Registered: ‎10-23-2007
0

Re: All this talk about HSBC...questions?

Nordstrom won't take any action against your new account in my opinion... they are FABU Bank.
Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
0

Re: All this talk about HSBC...questions?

They will eventually see the card but worrying won't help. Congrats on the Nordstrom card. I hear they are the best.
New Contributor
zro30
Posts: 61
Registered: ‎07-07-2008
0

Re: All this talk about HSBC...questions?

Thanks!  Is it worth, or even possible, to try and cancel the HSBC Card?

 

Also, what is a FABU bank (Fabulous??)

 

Thanks

Epic Contributor
Creditaddict
Posts: 22,064
Registered: ‎10-23-2007
0

Re: All this talk about HSBC...questions?


zro30 wrote:

Thanks!  Is it worth, or even possible, to try and cancel the HSBC Card?

 

Also, what is a FABU bank (Fabulous??)

 

Thanks


yes sorry, fabulous!
the card has been opened so it's going to show up on your reports, you could close it, but it's still going to be there so as long as no AF you my as well keep it. 

 

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Moderator Emeritus
WhirledPeasPlease
Posts: 3,417
Registered: ‎12-27-2007
0

Re: All this talk about HSBC...questions?

Where did you get your scores?  If you got an EX score after Feb 13, chances are it's a FAKO. 

 

HSBC is definitely nutty at the moment.  I wouldn't worry about Nordstrom's taking AA against you b/c that HSBC card pops up on your reports.  Tho in this credit climate I would avoid apps for awhile to let what you do have gain some age.

~*~*~*~*~*~*~*~*~*~*~
From 700 in 2008 to 498 in 2012...
4/23/12 -- BK 13 date of filing EQ = 505
4/18/12 -- EQ 498
12/5/13 -- EQ 669
Here we go.... back on track.
Valued Contributor
Guardian
Posts: 1,148
Registered: ‎04-23-2008
0

Re: All this talk about HSBC...questions?

[ Edited ]

zro30 wrote:

Hello,

 

All of this talk about HSBC and their recent actions has me a little concerned.  I just opened an acct. with them and wonder if I should accept it now.

 

I didn't realize that my scores were as good as they are and thought I would only qualify for an HSBC card, so I applied and was approved for the Platinum Visa Rewards, $1,050.00 limit.

 

I got curious from my approval and decided to pull my scores and realized they were: TU- 758, EX - 699, EQ - 788 (much higher than I thought) so after some quick reading on here I decided to try for a Nordstrom Visa.  I apped and was approved for $10,000.00 CL (whoo-hoo).

 

Now I'm concerned that if they see the HSBC card report (which I don't know that they will), they're going to drop my limit or something similar. 

 

I haven't even activated the HSBC card yet... 

 

Do you think I should be concerned?

 

Thanks

Message Edited by zro30 on 02-24-2009 12:53 PM

From the unfriendly and obscure looking limit they gave you of 1050, it looks like the approved you using their new completely asinine model which they are using for CLDs, so you should be fine as you are. Also, those scores look like FAKO scores, so don't put too much stock in them and keep in mind that Nordstrom is a charge (store card) and the limits are not reflective of how you would be treated for a credit card.

Message Edited by Guardian on 02-24-2009 04:43 PM

Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800


New Contributor
zro30
Posts: 61
Registered: ‎07-07-2008

Re: All this talk about HSBC...questions?

Thanks all for your input.  The scores are FICO, not FAKO, I pulled them from myfico.com right before the EX expiration date (had to get EX one last time, right?)

 

Also, the Nordstrom Card is a Visa, not the retail card. 

 

Thanks again all!

Valued Contributor
Guardian
Posts: 1,148
Registered: ‎04-23-2008
0

Re: All this talk about HSBC...questions?


zro30 wrote:

Thanks all for your input.  The scores are FICO, not FAKO, I pulled them from myfico.com right before the EX expiration date (had to get EX one last time, right?)

 

Also, the Nordstrom Card is a Visa, not the retail card. 

 

Thanks again all!


Oh nice, you are in great shape, my apologies for the assumption, didn't know when you pulled it. You should be fine, although with HSBC even those with high scores and great history were affected, go figure :smileyhappy:


Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800



myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

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