All this talk about HSBC...questions?

[Anonymous]

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

[Creditaddict]

Nordstrom won't take any action against your new account in my opinion... they are FABU Bank.

[smallfry]

They will eventually see the card but worrying won't help. Congrats on the Nordstrom card. I hear they are the best.

[Anonymous]

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

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

Thanks

[Creditaddict]

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@Anonymous wrote:

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

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

Thanks

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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. 

[WhirledPeasPlease]

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.

[Guardian]

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@Anonymous 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

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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

[Anonymous]

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!

[Guardian]

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@Anonymous 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!

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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