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Established Contributor
okstatefan5945
Posts: 517
Registered: ‎04-13-2009
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HSBC/ RewardZone MC SUCCESS Thank you If apping or have apped for please read

[ Edited ]

Hi all just wanted to share my happy story as well as maybe help others. I was recently approved for the HSBC Reward Zone MC at the $300 limit and $75 AF. This seems to be what most people get approved for. I already have another HSBC card with $320 limit and $79 AF and didnt want to pay that much for another with that low of a limit. I called the 1-800-419-4959 RZMC number and explained to the CSR that I didnt like the terms but wanted the card and asked if they could increase the CL or waive the AF. She said she couldnt waive AF's but could put in for a CLI. I asked if it would be a soft or hard inquiry and she didnt know but I told her go ahead as I already have alot of inquiries. She came back and said sorry you have been denied. I explained again that I wanted the card but didnt like the terms and asked "Is there a retention specialist or account manager that may be able to assist me further with these requests?" She said certainly and put me on hold.

 

A few moments later an account manager picked up. I told her the same that I really wanted the card but didnt like the terms and that I would love to activate the card if she could either A. Waive the AF, B. Give me a good limit increase, or C. Reduce the AF and give me a slight increase. She explained that the AF was charged to help provide excellent customer service (which I thought was a rejection) and then she went on to say but we really want you as a customer but these are difficult financial times. She then said Mr. Williams what I will do for you today is credit you half of the annual fee which will be $37.50 back to the account and in addition I will raise your CL $150 to $450. Will this work for you. I thanked her and said it certainly will those terms are alot better and that CL would better allow me to use their card for purchases. She said the credit limit increase should apply immediately and that the credit would appear within 48 hours and she then proceeded to activate my card.

 

So if you have been approved and have not activated yet I would call and give it a shot. Of course YMMV but it worked for me. Good Luck.

 

***Also worth noting I was VERY POLITE the whole time and NEVER threatened to close any account or leave as a customer just politely said I wasnt sure at this time if I would like to activate the card with those terms and could they help me. They dont like to be threatened or talked nasty to***

Message Edited by okstatefan5945 on 12-18-2009 02:25 PM
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2011 Credit Goals
1. No Lates
2. Join the 700 club
3. No inquiries
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Epic Contributor
Creditaddict
Posts: 21,000
Registered: ‎10-23-2007
0

Re: HSBC/ RewardZone MC SUCCESS Thank you If apping or have apped for please read

I was recently declined after being pre-approved. Is there any option to recon with HSBC? I was thinking no
Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 686 Prosper(10-30-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:
Established Contributor
okstatefan5945
Posts: 517
Registered: ‎04-13-2009
0

Re: HSBC/ RewardZone MC SUCCESS Thank you If apping or have apped for please read

I dont know about a recon. Were you declined outright? When I apped it gave me the infamous 7-10 day message. I went to householdbank.com and clicked check status and put in my social and zip for the first two days it had the 7-10 day message. I called and the guy said he couldnt pull my app up in the system to wait for my letter. On day three I checked status again and there was my Congratulations message. So if you got the 7-10 check your status again if it declines you I would say give it 5-7 days and call and ask. The worst they can do is say no.
----------------------------------------------------------------------------------------------
2011 Credit Goals
1. No Lates
2. Join the 700 club
3. No inquiries
----------------------------------------------------------------------------------------------
Epic Contributor
Creditaddict
Posts: 21,000
Registered: ‎10-23-2007
0

Re: HSBC/ RewardZone MC SUCCESS Thank you If apping or have apped for please read

I was declined outright, that's what I get for applying for something I don't need, but I get so excited when I'm pre-approved!
Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 686 Prosper(10-30-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:
Established Contributor
okstatefan5945
Posts: 517
Registered: ‎04-13-2009
0

Re: HSBC/ RewardZone MC SUCCESS Thank you If apping or have apped for please read

I understand that I havent been preapproved for anything in years. Now that I have my credit cleaned I am in the stage of getting and gardening credit so I got a credit one bank and a household bank card. Then I saw the preselector site and for giggles put my stuff in and bam preapproved. I thought well i already went on an app spree and am not planning on buying anything in 2010 anyway whats one more inquiry. Figured decline and then got 7-10 and thought oh well I will call and try to recon and that when he said it took a few days to show in their system once you applied and I almost fell out of my chair when it finally approved me and I saw others have success with AF reductions and CLI's and figured what the heck. Didnt figure I would get a AF reduction and CLI at the same time. I simply mentioned that I would like one or the other or a little mixture of both to make the terms better before I decided to activate. When she said we will credit half the fee and give the $150 CLI if we can activate your card now I gave her my blessing and almost fell to the floor again. I am officially done for a while. I will let all three of these hit 6 months and ask for CLI's and then 6 months later do the same and hopefully a year from now they will be decent CL's. The ONLY thing I plan to app for next year is a store card for my mix since all three are bank cards. I will probably go for Wal-Mart, Lowes, or JCPenneys. We spend the most at Wal-Mart so it will prob be them but Wallys and Lowes both declined me about a month ago so I am going to wait a while and let things settle before I try again.
----------------------------------------------------------------------------------------------
2011 Credit Goals
1. No Lates
2. Join the 700 club
3. No inquiries
----------------------------------------------------------------------------------------------
Epic Contributor
Creditaddict
Posts: 21,000
Registered: ‎10-23-2007
0

Re: HSBC/ RewardZone MC SUCCESS Thank you If apping or have apped for please read

well as I figured, you can't recon a decision made by computer with HSBC
Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 686 Prosper(10-30-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:

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