Discover card =====HSBC card????

Anonymous · ‎06-30-2009

I am confused. My husband applied for a Discover More card and was declined. Ok so than another card from Discover pops up with the Discover logo in the bottom corner of the card. The card was all black in color and asked if he wanted to accept that Discover card instead. Turns out when my husband called Discover and asked them what his credit limit was since it didn't say online. They said it was a HSBC- branded Discover card or something like that they said.

It says Discover card on the front but is it really a HSBC card? Does Discover own HSBC? Does anyone have one of these cards? Is it a way to get your foot in the door with Discover?

Anonymous · ‎06-30-2009

Im guessing its exactly what it is, kind of like companys using visa and mc.

I have a Sams Club Discover card, but its not issued be "discover"

Anonymous · ‎06-30-2009

Bugger! I was hoping it was more of a Discover Card.

llecs · ‎06-30-2009

Ditto. It is called a HSBC Direct Rewards Discover CC and is counter-offered if declined for a Discover. DW and I both have one after being turned down for the real thing last year.

Chopbrocoli · ‎06-30-2009

Discover does not own HSBC. HSBC has designated Discover as their electronic payment network of choice (for the particular credit product your husband possess) because of its wide range of partnerships with merchants, service, and other various attached benefits. It's exactly like Citi using AMEX as their payment network for the Citi AMEX AAdvantage card, Citi Chairmans AMEX..etc.

It would not be a foot in the door with discover because your husbands CC is serviced by HSBC and not Discover. Seems to me that the reason why Discover counter offered with the co-branded discover is they get a kickback from HSBC.

Message Edited by Chopbrocoli on 06-30-2009 11:33 PM

KingAdrock · ‎06-30-2009

@Chopbrocoli wrote:
Seems to me that the reason why Discover counter offered with the co-branded discover is they get a kickback from HSBC.

HSBC has to pay Discover for many things involving their co-branded card. Starting out with merely being able to use the Discover name.

Anonymous · ‎07-01-2009

@Chopbrocoli wrote:
Seems to me that the reason why Discover counter offered with the co-branded discover is they get a kickback from HSBC.

This is exactly right and to me I think it's an insult. They (Discover) doesn't really want your business but think your stupid enough too fall for a co-branded sub-prime card issued by HSBC with paltry credit line but still baring the Discover logo.

So basically they (Discover) wants you to carry around the look of a Discover card, but do not want your business while getting a kickback from HSBC. Their hypocrisy knows no bounds. I wouldn't accept that card because it's not a Discover Card at all, this card is no different then say a First Premier bank card. (I THINK)

King

creditwherecreditisdue · ‎07-02-2009

@Anonymous wrote:
@Chopbrocoli wrote:
Seems to me that the reason why Discover counter offered with the co-branded discover is they get a kickback from HSBC.
This is exactly right and to me I think it's an insult. They (Discover) doesn't really want your business but think your stupid enough too fall for a co-branded sub-prime card issued by HSBC with paltry credit line but still baring the Discover logo.

So basically they (Discover) wants you to carry around the look of a Discover card, but do not want your business while getting a kickback from HSBC. Their hypocrisy knows no bounds. I wouldn't accept that card because it's not a Discover Card at all, this card is no different then say a First Premier bank card. (I THINK)

King

Harsh. You took the time and made the effort to apply for a Discover Card. They harded you to evaluate your credit. It was not up to their standards - and Discover Financial Services is a very conservative outfit! BUT: Rather than a straight decline they afforded you the opportunity to accept the offer of another product that also works on their network. I don't have a big problem with this. They don't disguise the fact that this card is an HSBC product. And - no one said you have to accept it! On the otherhand they could be just like everyone else - hard you - and then decline you. Somehow I think this is better.