@mxp114 wrote:
I wonder instead if your card was reissued for the "new" HSBC, an account that won't move to Cap1. It just seems unusual for HSBC to reissue a brand new acct number and plastic that is basically an HSBC branded card, only to have CapitalOne repeat this process in two months. I think HSBC CashBack, HSBC Premier and HSBC Platinum are staying with HSBC.
That was a theory that I came up with when this all started to happen - as I am sure the Orchard card is moving to Cap 1 - and nothing had changed online with that one. Of course it is entirely conjecture from reading online etc. but it seems that the cards that are staying with HSBC are all the Premier cards and Plat's that are issued to people that have an HSBC bank account...???
The letter that came with the new card does say that the card (It is an HSBC Plat - no AF - Cash Back) will be sold to Cap 1. The letter affirms the sale as April 2 2012 - It states there are no changes to APR, rewards etc. (but does not specifically say if that will change after April 2), It says a Cap 1 branded card will be issued "sometime after the sale is complete. Your account number will not change at that time."
The only mention of Credit reporting is:
"There will be no changes to your credit bureau report as a result of your account number change. Once Capitol One assumes ownership, they will begin reporting to the credit bureau that your Account is now owned by them."
The letter also says:
"In preparation for the sale of your Account to Capitol One, it was necessary to assign a new account number. A new credit card is needed to ensure you have continued access to your account once the sale occurs."
and
"In preparation for the sale of your Account to Capitol One, it was necessary to assign a new account number that can be transferred to Capitol One in the future."
