03-19-2010 02:08 PM
I just got a Best Buy Reward Zone card with a $300 CL. I have two other HSBC cards, (1) a $200 secured card that is two years old and (2) a $300 "Platinum" card that is about 5 months old. I figure I don't want/need to many credit cards to begin with, but it seems like HSBC will keep approving me based on my flawless history with them so far. I read, though, that they cut you off at 3 cards... is that true? I would figure they'd want to keep sucking the annual fees out of me.
My score went up a bit, so I applied for a Shell gas card. They said wait 30 days and see; doesn't sound good. So, I am wondering why HSBC, or anyone else, won't raise my limits. Does HSBC only issue new cards for $300? I've read here that they rarely give CLIs, so how does anyone use their cards for any reasonable daily activity? I'm just curious because I put about $10k a month on my debit cards and I'd rather be building my credit profile with at least some of that spending.
03-19-2010 07:47 PM
Because the secured cards has no rewards whatsoever. I get 1 mile per dollar on my debit card, but one of my Orchard cards has 2% cash back which is better. I suppose it's quite possibly better because they realize they won't have to pay much back.