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Regular Contributor
Posts: 179
Registered: ‎09-23-2008
0

Discover Direct Rewards / HSBC

So I just app'd for Discover and was declined :smileysad:  However I was approved for the Direct Rewards Discover card through HSBC.  I did a search on this card on the boards, but there hasn't been any discussions on this card lately.  I don't even know my CL on this card yet so I am curious.  There is a $39 annual fee and 0% interest for the first 6 months, but I have no idea on starting CL's. 

 

I checked out Whogavemecredit.com and that wasn't too much help either.

 

 

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Senior Contributor
Posts: 4,214
Registered: ‎09-12-2008
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Re: Discover Direct Rewards / HSBC

HSBC backs many subprime or less than prime cards, such as Orchard and the HSBC Discover.

 

Initial CL's tend to be low ($500) and tend not to grow much over time.  They usually have AF and rarely, if ever, graduate to anything more than they started. 

 

Your CR will not have any evidence that you have a Discover card, since the TL will be HSBC.  The only thing it has in relationship to Discover is that it uses the Discover Financial Network, has the Discover icon on it and will have an account number which begins with the number 6, like all Discover cards.

 

Other than that, this isn't really any different than an Orchard Visa.  It's a builder card that will help you get better prime TL's down the road once you show your responsible use and payment of this and other current accounts over time.

 

 

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Established Contributor
Posts: 567
Registered: ‎04-26-2007
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Re: Discover Direct Rewards / HSBC

Also, because it is a Discover network card it cannot be used at a retailer that does not accept Discover & there are quite a few because of the high % use fee charged to the retailer.
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Senior Contributor
Posts: 3,279
Registered: ‎08-03-2007
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Re: Discover Direct Rewards / HSBC

I got this card under the same circumstances, and I guess I would say it was mediocre at best. AF, high interest rate (not that it mattered with PIF), $300 CL, and no CLI ever.

 

If you want to have a Discover card in your wallet, I recommend the Sams Club/Wal Mart Discover by GEMB over this one any day of the week. 

Here we go again...
Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: Discover Direct Rewards / HSBC

DW and I both app'd for a Discover back in December. We each were countered-offered this CC and regretfully we accepted. We had read others' posts that the starting limits were $1000-$3000+. Ours started each with $300. Woohoo! The APR was set each at 21.99%. I think I used mine twice. DW uses for fluff, but both are PIF. I regret it, but can't change the past.

 

7 months later, had I patiently waited, I was approved for a Discover More. Oh well. Hindsight.

Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
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Re: Discover Direct Rewards / HSBC

HSBC seems to have become very stingy with the limits on this card. They also do seem to be using this co-branding program as a way to funnel the unsuspecting applicant into an Orchard/Household type product. I have no idea why DFS is allowing the brand "Discover" to be cheapened like this. The products do not compare at all. The Discover cards issued by DFS are prime to prime plus cards, offer nice growth potential and a decent, but not great, rewards program. HSBC Discover offers none of that.

 

If you get a co-branded AMEX at least you get some AMEX benefits along with it.

Regular Contributor
Posts: 179
Registered: ‎09-23-2008
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Re: Discover Direct Rewards / HSBC

Thanks for the replies!  I guess I'll wait until the card comes in the mail to see the CL.  If it's under $750 I'll be closing this faster that you can say "HSBC Sucks!"
9/26/08 TU: 528 EQ: 558 EX: 560
11/7/08 TU:584 EQ:601 EX 600
7/21/09 TU:636 EQ:626
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Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
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Re: Discover Direct Rewards / HSBC


johnsj21 wrote:
Thanks for the replies!  I guess I'll wait until the card comes in the mail to see the CL.  If it's under $750 I'll be closing this faster that you can say "HSBC Sucks!"

 

I wouldn't even think about closing it unless you can get them to remove that AF from your account. If they won't do that use it for a year and then cancel it. You have to use it once a quarter, too. HSBC had been known close accounts w/o notice when disused for three months.
Frequent Contributor
Posts: 373
Registered: ‎03-26-2010
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Re: Discover Direct Rewards / HSBC

I know this is an old thread but now this card has become Capital One. What will happen to this card? Convert to regular Capital One card or close accounts or what?

 

 

Thanks!

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Established Contributor
Posts: 727
Registered: ‎01-13-2013
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Re: Discover Direct Rewards / HSBC

Have you try calling the number in the back of you card and ask?

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