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Established Contributor
modernsurrender
Posts: 805
Registered: ‎02-01-2008
0

HSBC Closed Card :(

I was just doing my weekly CC payments, and I saw that HSBC closed my card (must have been in the last month, because it still showed open on 10/5 when I updated my PM123).

 

I'm really irritated since there was no warning... Sure the card had no balance, but it was helping with my Util since most of my limits are pretty small.  It was also my 3rd highest limit, 3rd oldest card and it didn't have an AF.  I really planned to keep it indefinitely because of the lack of AF on it and was going to cancel my BofA (which is a lower CL and has an AF) in March - but now I might have to keep it around for the util help (not that I carry a high Util, but I like the extra cushion).

 

Has anyone had any luck getting them to reopen an account after they close it?  I know most people will say it's not worth the effort, but I really did want to keep it around since there's no AF and it was about 12% of total credit limit across the board.

 

I've seen threads about them closing it with inquiries as the excuse, but all my inquiries are 6+ months old so it'd be silly for them to do it now lol

 

*sigh*

 

Start 2/2008: TU 495 || EX 539 || EQ 528
Now 5/2013: TU 716 || EX ??? || EQ 702

Slate: $5000 Simplicity: $5000 David's Bridal: $3500 SW Chase: $3000 FNBO: $3000 Barclay NFL: $2500 BofA: $2400 Discover IT: $1700 Walmart: $1500 Victoria's Secret: $1000 Cap1: $750 Amex Zync: NPSL
(2 derogs to go until I'm squeaky clean in 2014!)
Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012
0

Re: HSBC Closed Card :(

It is worth a shot, good luck.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Valued Member
afjock21
Posts: 138
Registered: ‎09-26-2012
0

Re: HSBC Closed Card :(

Wow. I literally have smoke coming out of my ears for you. :smileymad:

Established Contributor
modernsurrender
Posts: 805
Registered: ‎02-01-2008
0

Re: HSBC Closed Card :(

Thanks... I sent an email to customer service.  If that doesn't work, I'll try calling on Monday.  I know it's not a huge deal, it's just irritating.  Drops my total available credit from 7.3K to 6.35k, not a lot numerically, but quite a bit percentage wise.

 

Looks like I'll be apping for 1-2 cards in late November to try to make up my lost ground.  Doing that was just a "maybe" not it's more of a "probably" lol

Start 2/2008: TU 495 || EX 539 || EQ 528
Now 5/2013: TU 716 || EX ??? || EQ 702

Slate: $5000 Simplicity: $5000 David's Bridal: $3500 SW Chase: $3000 FNBO: $3000 Barclay NFL: $2500 BofA: $2400 Discover IT: $1700 Walmart: $1500 Victoria's Secret: $1000 Cap1: $750 Amex Zync: NPSL
(2 derogs to go until I'm squeaky clean in 2014!)
Valued Contributor
Epcot
Posts: 2,784
Registered: ‎10-10-2012
0

Re: HSBC Closed Card :(

Sorry to hear, keep us posted!

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 809 EX 774 TU 805
App free since 4/11/13
Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012
0

Re: HSBC Closed Card :(

[ Edited ]

Was it crap one that did this too you? Or is there still a separate entity of HSBC?

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Valued Member
Moes
Posts: 48
Registered: ‎08-30-2010
0

Re: HSBC Closed Card :(

They closed some of mine about two months ago when I was doing car shopping. Called them up and they didn't care if the inquiries were caused by auto shopping. When capital one took over they reviewed some hsbc accounts and closed accounts if there were recent inquries or new credit. They closed my orchard, discover direct rewards and sears solutions. I replaced them with better cards.


Starting Score: 520
Current Score: 665
Goal Score: 700


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Regular Contributor
TATATA
Posts: 153
Registered: ‎02-24-2010
0

Re: HSBC Closed Card :(

[ Edited ]

That's what I very much dislike about banks when it comes to credit cards. They close and/or decrease your credit limit for the dumbest reasons. No wonder credit unions keep growing at a fast rate....people are getting tired of being treated as only a number (not a member). 

Total CL's combine: $141,800.
Established Contributor
modernsurrender
Posts: 805
Registered: ‎02-01-2008
0

Re: HSBC Closed Card :(

[ Edited ]

Funny enough, I got the letter explaining the decision today... It was dated 10/27 and postmarked 10/31 and said that my account would be closed at the end of the month of October (lol so much for any warning!) when the card expired due to their internal review process and score which is based on EQ:

 

Your score: 586 (lol)

Range: 226-926

Reason: Derogatory public record or collection filed

Delinquency

Number of accounts currently or in the past not paid as agreed

 

I find it funny since when they offered and approved me for the card I had 6 COs and 3 collections on my reports with scores that are probably 80-100 points lower than they are now... Yet now they've decided that these things matter when I have a third of the derogs (1 CO and 2 collections) left on my report that are all due to fall off in 6-18 months.  I haven't actually been delinquent on anything in over 5 years, including this card.  I even pulled my EQ just to make sure nothing new popped up, and no nothing new was there.

 

I even got a Cap1 pre-approval (which I accepted) back in March/April before a couple other old baddies fell off lol.

 

I'm actually more annoyed now since the letter is so late and the reasoning is so lame, but I also find the reasoning a little humorous in the grand scheme.  I'll still be waiting for their email response and will still try to call and get it reopened if the email isn't satisfying.

Start 2/2008: TU 495 || EX 539 || EQ 528
Now 5/2013: TU 716 || EX ??? || EQ 702

Slate: $5000 Simplicity: $5000 David's Bridal: $3500 SW Chase: $3000 FNBO: $3000 Barclay NFL: $2500 BofA: $2400 Discover IT: $1700 Walmart: $1500 Victoria's Secret: $1000 Cap1: $750 Amex Zync: NPSL
(2 derogs to go until I'm squeaky clean in 2014!)
Established Contributor
gettnthere
Posts: 912
Registered: ‎06-14-2012
0

Re: HSBC Closed Card :(

Wow, that dosen't make much sense at all. its def worth a shot to get them to re-open the account.



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 :smileywink:

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