Regular Contributor
Posts: 209
Registered: ‎01-31-2012

HSBC Closed My card

HSBC closed my card after reducing my limit from $2100 to $305, I didnt care for the card and never used it after the CL was reduced. My question is now I am left with NFCU visa card, Capone master card and Target store card. Should I apply for another card to maximize my utilization? my fear is that I plan to apply for a mortgage loan in 2 months. my total credit limit is $11,050 with zero balance. my highest limit is $10,000 from NFCU. thank you for your candid response.

Starting Score: EQ: 532, EX: 569, TU: 621 (All lender pull 10/15/11)
Current Score: EQ: 660,lender pull 4/13, EX: 671 lender pull 4/13, TU: 691 lender pull (4/13)
Goal Score: 700

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Posts: 12,952
Registered: ‎04-15-2011

Re: HSBC Closed My card

Absolutely not!  No inqs, no new credit.  General rule is no apps 6 months out from your mortgage.  Just wait till your mortgage is funded then add a replacement card.

Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Established Contributor
Posts: 659
Registered: ‎09-12-2011

Re: HSBC Closed My card

While that HSBC card is closed, it will continue to report for the next 10 years or so.  You have zero balances on your 3 remaining cards, so your UTIL is just fine.  IMO, you don't need a new credit card right now.  Do not app for anything right now - you are too close to beginning the process for a mortgage.  Plant yourself in the garden, at least until after you close on your home purchase and your loan is funded.


Good luck!

FICOs: TU08 841 10/6/14 per Wally; TU98 800 4/8/14; EQ04 769 6/8/14; EQ08 800 11/8/14; EX 805 6/12/14 per MyFICO

My Wallet: Amex Gold NPSL; Amex Optima Platinum $25K; Amex Costco TE $15K; Amex BCE $12K; BofA Visa $10.1K; Cap1 Quicksilver Visa Sig $10K; CSP $28.2K; Chase Freedom $13K; Citi Double Cash $10K; Citi Simplicity Visa $15.1K; Discover IT $24K; Fidelity Amex $25K; PenFed Plat Rewards Visa Sig $20K; Sallie Mae WMC $12.5K; US Bank Cash+ Visa Sig $24.5K; Walmart Discover $10K; Wells Fargo Rewards Visa Sig $14K

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