HSBC Accts Close by 2/24

[corymcd88]

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@knightimer wrote:

I hope the service get better to. i really didnt care for HSBC. Also, is it confirmed that the orchard cards will convert too?

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I was told they would.

[nuggets321]

I would like to know about the store card as well. i just got instant approval for 1200 with the store card and all of the associated documents relate to HSBC ??

[Wolf3]

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@nuggets321 wrote:

I would like to know about the store card as well. i just got instant approval for 1200 with the store card and all of the associated documents relate to HSBC ??

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Which store card?   Although I think all of them are going to Capital One.

[nuggets321]

Sorry......   I was referrring to the Best Buy regular store card NOT the RZMC

[Anonymous]

I have 3 HSBC store cards -- BB, Saks, and Neiman Marcus. I'm nervous how the change is going to affect all of these accounts.

Don't forget to ask for CLIs if it's been 6 months since your last one! Who knows what Capital One will do with these accounts in terms of credit limit increases.

[cortezthekiller]

FWIW, I just asked and received a CLI on my Household Master  today, prior to seeing this post.

Also, will they let us know if/when these accounts are being closed ahead of time? 

[Anonymous]

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@Revelate wrote:

 

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That emphatically did not happen to me on my old BOA card which was frozen and re-issued due to fraudulent charges.  Different card number, same account, same tradeline.

I honestly think this is being overstated if not completely inaccurate: mortgages are packaged up and sold all the time - you as the consumer keep the same tradeline regardless of who actually is holding your debt.

I'll wait and see with my own Orchard card.

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This is NOT overstated or inaccurate.  Two years ago my wife lost her wallet, in it were two HSBC cards.  Old cards were cancelled two new ones were issued with same account history, open date etc. only a new account number was assigned.  She now has the two lost cards reporting with lost/stolen card in the remarks sections and payment history ends June 2010 when the cards were lost.  Then she has the two new accounts with the old open date but payment history starting at August 2010.  So this does in fact happen.  I understand that some times when a new servicer comes along, they just insert the new name of the creditor on the exisitng tradeline, but that is not always the case.  So this could be bad for people with already relatively short history or someone on the cusp of gaining a another year.  Hopefully when Cap1 takes over they just replace the OC reporting the tradeline, but with new numbers being issued, it doesn't sound like that's the case. When my wife frist tried disputing the accounts as duplicates she talked to a TU CSR (that that for what it's worth) who informed her because they are noted to be lost/stolen, that they are not factored into her AAoA.  However, when we calculate her AAoA without one set of these cards her AAoA doens't match what is on her reports.  So they DO factor in, it's the only way we get the same AAoA. 

[goodgirl-badcredit]

I have the HSBC Direct Rewards Discover is that card included? I was going to cancel it but if it will convert maybe i will keep it. I have had it since 7/2010 and no CLI!!

[JustMe77]

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@Anonymous wrote:

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@Revelate wrote:

 

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That emphatically did not happen to me on my old BOA card which was frozen and re-issued due to fraudulent charges.  Different card number, same account, same tradeline.

I honestly think this is being overstated if not completely inaccurate: mortgages are packaged up and sold all the time - you as the consumer keep the same tradeline regardless of who actually is holding your debt.

I'll wait and see with my own Orchard card.

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This is NOT overstated or inaccurate.  Two years ago my wife lost her wallet, in it were two HSBC cards.  Old cards were cancelled two new ones were issued with same account history, open date etc. only a new account number was assigned.  She now has the two lost cards reporting with lost/stolen card in the remarks sections and payment history ends June 2010 when the cards were lost.  Then she has the two new accounts with the old open date but payment history starting at August 2010.  So this does in fact happen.  I understand that some times when a new servicer comes along, they just insert the new name of the creditor on the exisitng tradeline, but that is not always the case.  So this could be bad for people with already relatively short history or someone on the cusp of gaining a another year.  Hopefully when Cap1 takes over they just replace the OC reporting the tradeline, but with new numbers being issued, it doesn't sound like that's the case. When my wife frist tried disputing the accounts as duplicates she talked to a TU CSR (that that for what it's worth) who informed her because they are noted to be lost/stolen, that they are not factored into her AAoA.  However, when we calculate her AAoA without one set of these cards her AAoA doens't match what is on her reports.  So they DO factor in, it's the only way we get the same AAoA. 

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Thanks for posting that, I knew I wasn't crazy! lol It happened to me with Bank of America.

I closed Orchard a few days ago, and am glad I did.

[Anonymous]

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@cortezthekiller wrote:

FWIW, I just asked and received a CLI on my Household Master  today, prior to seeing this post.

Also, will they let us know if/when these accounts are being closed ahead of time? 

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Hello,

May I ask how long you have had your household master? Have had mine for only four (4) months and wondering if too soon to ask for credit limit increase. Thanks!