No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
How long before Cap1 is considered "too big to fail"?
I'm glad I don't use any of those products. I just got around to cancelling my Chevy Chase Checking account to get away from Capital One after they bought Chevy Chase. I'll be none too pleased if they go and buy something else that I use.
Maybe I'm overlooking something, but I don't see any mention of HSBC in either of those stories.
I also read something last week about them buying the Target Stores credit business s as well.
With access to ING's deposit base and customers, they're now better positioned to extend their credit portfolio and cross sell to ING account holders. ING's huge US deposit portfolio base allows them to more aggressively expand their credit portfolios both organically and through acquisitions, such as HSBC's US credit card portfolio.
With this acquisition--especially if ING attrition is low during the transition--Cap One becomes a signficant banking force, especially in online banking, which is the future.
Hmm, well this may convince me to dump ING Direct and go with another bank. Time to wait and see.
This is going to sound a little absurd, but Cap One is fine if you don't ever have to deal with them on any issues. Their online technology and bill pay is above average.
@Walt_K wrote:I'm glad I don't use any of those products. I just got around to cancelling my Chevy Chase Checking account to get away from Capital One after they bought Chevy Chase. I'll be none too pleased if they go and buy something else that I use.
Give Capital One some credit (no pun intended). Of all of the banks, they are one of the very selective few who seem to be willing to buck the "lend to the flawless only" trend that everyone else (i.e. Juniper, Amex, Chase, Citi, the worst offenders) has fallen into. Their credit limits aren't great at all - AT ALL - but at least they give people a chance.
They don't pull elitist crap over single inquiries (Juniper/Barclays).
They don't pull faulty non-bureaus to find excuses NOT to give cards to otherwise qualified customers, nor do they arbitrarily close accounts without warning (Amex).
They don't demand pristine credit reports (Citi).
They don't auto deny over 6 year + 11 month old BKs (Chase).
They don't demand credit reports from a single bureau and refuse to run any other (Chase, Citi, AND Amex).
It's why they've gotten large enough to even consider this acquisition. If they do ING -AND- HSBC I'll be shocked and impressed at the same time. I would rather GE Money Bank take over the HSBC accounts though to even things out.
Don't forget the 0% foreign transaction fees! This is the main reason I keep them around!