Credit Cards

[lisac]

I've had my household HSBC card six years.  Got it back when i didn't have a lot of credit.  Think it started at 600 cl.  Today it's 1350.  Called couple months ago asked for cli, soft, 100 if i wanted to pay $25.00 for it. Said no thanks.  Last week look at my statement, been just making payments online.  26.99 interest!!!!  i called to lower it. The third person i talked to, a supervisor told me "you must have missed a payment or was late" told her never late on this card ever look for yourself. She comes back and says yeah your right.  Now says "the bank changed its policy with my card and nothing we can do about." i told i will pay off the balance and never use it again.  Her comments: sorry to hear it.  HSBC doesn't care about threats.

[Tovya]

HSBC/Orchard knows what they are doing. They know that most people only get this card because it's one of the few they can get, and people get it as a stepping stone to other cards.... therefore, just to make sure they aren't simply padding your CR with a lower utilization by having their card on your CR, they are more stringent on expecting you to fully utilize it.

[casinoannie97]

I got my ORCHARD 10/2003, then HSBC just sent me a card for 1000 cl in 11/03. I have long since closed Orchard because of a/f.  They did give me 3 increases on their own.  The HSBC card has given me two which had to beg for.I am now at 1900 after 4 years.  They do not grow with you nor do they care.  They report your charges long before the payments and are always behind.  Who knows how they operate

[calichik555]

i think my orchard card is the only one giving me a CLI out of the cards i have.  i've had my card since '03 and it stayed at $500 for a long time (simply probably because i carried a high balance for a couple years).  i paid the card down to about 15% and got a $300 increase that month.  next month i paid in full and it went up another $200.  Maybe orchard is just liking me these days?

[grneydangl]

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cheddar wrote:

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grneydangl wrote:

I'm disgusted as well... let me make sure I understand this, this is on my new statement for this month:

Previous Balance:  $216.17

Payments & other credits: $216.17

Finance charge: $16.00

If my previous balance was $216.17 and I paid $216.17, that is PIF right?  And there shouldn't be a finance charge right?

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Not necessarily.  There are three ways you could PIF and still have finance charges.

1) You did not PIF the month before, which meant that you had no grace period for that billing period, and the finance charges you are seeing are residual finance charges as a result of making purchases with no grace period.

OR

2) You did PIF in time for your payments to post to your statement, but you did not PIF by the payment due date.  You will be assessed finance charges in this scenario.

OR

3) Due to the round number ($16), I'm inclined to think that this isn't a finance charge from interest, but is a fee of some sort.  (Fees ARE a form of finance charges, as specified in the T&C.)

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yeah I'm gonna go with 3) aaaaaaannnd I'm gonna say that's pretty lame.  That really is a bummer, $48 annual fee, just got the card two months ago... sucks that they're pissing this many people off

[sunnyday]

I have had a HSBC card since 2005 and what I have noticed with them is this:

If you are using your credit card and you are close to you credit limit, they are very stingy with credit line increases, however, when you are maxed out and then you pay it down to less than 5% utilization, they will give you a nice increase.  Every single time that I pay my card with them down and I do not use it at all for over 2 months, they increase my credit line to try and "entice" you to use it for a larger purchase.  I hope this helps.

[ncscgirl2005]

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sunnyday wrote:

I have had a HSBC card since 2005 and what I have noticed with them is this:

If you are using your credit card and you are close to you credit limit, they are very stingy with credit line increases, however, when you are maxed out and then you pay it down to less than 5% utilization, they will give you a nice increase.  Every single time that I pay my card with them down and I do not use it at all for over 2 months, they increase my credit line to try and "entice" you to use it for a larger purchase.  I hope this helps.

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Thanks. My balance has been at $0 for about 2.5 months now so I guess I will twirl my thumb patiently to see what they will do. I did use the card the other day but I am going to pay that off either today or tomorrow.

[BhamGurlyGurl]

I feel your pain (anyone) I had them for about 8 years post BK, never asked for CLI, but got a small one about every year or two. Recently closed due to billing/payment issues with them. Good luck to ya!!!! Hope you have more patience with them than I did...they are difficult.

[latiii3]

Yesterday I was able to get a $400 CLI out of Orchard after threatening to close the account. I spoke with the CSR first who offered a $100 increase. I asked to speak to a supervisor who then told me $100 was the only thing that they could offer. I then said I wanted to close the account. I have been with HSBC for 5 years and have 3 cards with them. I have raised my score almost 200 points since then. I joined the 700 club last week.

I told the supevisor I was going to consolidate some of my cc accounts and needed a higher limit. I asked for $500. He said they couldn't do it. I said I wanted to close the account then. He said nothing. I asked how to close the account again. He said nothing. He then asked if I would be willing to accept a lower amount. I said how much? He said $300. I countered at $400 and he said yes. I was tempted to go back to $500 but I know how difficult HSBC can be getting a CLI and called it a day. I have another anniversary with another one of their cards in Aug. I will shoot for a $700 CLI on it then.

latiii3