04-27-2012 11:02 AM
Anyone know if these cards are being converted to Capital One? I tried calling (and secure messaging) HSBC but the people I spoke to about it were pretty much in the dark about the process.
Speculation-wise: Change for the slight bit better? Or are they just equally as bad?
04-27-2012 12:48 PM
Maybe June or July from what I heard on this forum.
05-15-2012 04:34 PM
Yeah...it's all in the works. My co-worker has the Crap One letter in front of him. He wants nothing to do with them, so he called them & cancelled the card.
Crap one has a long list of info sharing with partners. He wanted no part of their sharing his info.
If I get the letter....DONE.....Gone!!
05-15-2012 04:56 PM
I just got said letter in the mail today actually. I would probably do the same with both this and my other Cap One card but I'd like them to age at least another year before I cut them loose. I don't really have the feeling either will grow.
05-15-2012 05:45 PM
better in what way? IMO Cap One is stingier with CLI. At least ive gotten a few from my hsbc cards.. Orchard/Best Buy
05-15-2012 06:41 PM
I have a GM card issued by HSBC that now is reporting as Capital One on my EQ reports, but not on TU or EX yet. I was hoping to avoid this as I don't want to cancel a 20 year old TL.
05-15-2012 06:47 PM
I have a Bestbuy reward Mastercard
I "HAD" an Orchard
I "HAD" a Capital one
I closed the orchard and the capital one earlier this month(another thread). I ran my credit report via USAA today to see to my horror, 3 one capital cards reporting.
The Orchard - Now a Capital One
The Best Buy - Now a Capital One
And the old Capital One - Still a Capital One
07-28-2012 08:57 PM - edited 07-28-2012 08:58 PM
HSBC closed the deal selling its consumer credit portfolio to Capital One, which is why you're getting those letters. I used to work for Best Buy but I don't know how Capital One will change the credit plans.
Existing balances will adhere to the original terms when the purchases were made. For new accounts and purchases, no idea.
I also worked in commercial banking for 30 years.
07-29-2012 09:51 AM
The Deal is done and statements and online shows Capital One as owner but they have not completely transferred over to Cap1 systems yet so you can't do things like CLI yet. It's a toss up for me on which is worst bank! They are very similar in if you start at $300-$500 you probably will most likely never see over $1k.
However if you start in the $5k+ range, you will probably have a 99% DIFFERENT POSITIVE Experience with both of the banks. (i.e. GM for HSBC, and forget what it was called but some miles card many many years ago, parents had it with $16k line... think now kind of the top line Venture would be same)