HSBC?

[nyancat]

I just got approved for the HSBC Platinum Mastercard with Rewards.

Does anyone know anything about this card? I signed up for the combination of no foreign transaction fees and contactless. There are rumours online it may be chip and PIN but the rep who signed me up denied it, and I'm not holding my breath lol.

Good experiences? Bad experiences?

[Anonymous]

I had no idea HSBC was still issuing cards. Capital One bought their card portfolio a few years ago, (I have a QS1 that used to be HSBC). Have they now gotten back in to the market, or did Cap One only buy part of their card business?

[nyancat]

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@Anonymous wrote:

I had no idea HSBC was still issuing cards. Capital One bought their card portfolio a few years ago, (I have a QS1 that used to be HSBC). Have they now gotten back in to the market, or did Cap One only buy part of their card business?

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Capital One only bought their sub-prime (Orchard Bank) business.

[Anonymous]

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@nyancat wrote:

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@Anonymous wrote:

I had no idea HSBC was still issuing cards. Capital One bought their card portfolio a few years ago, (I have a QS1 that used to be HSBC). Have they now gotten back in to the market, or did Cap One only buy part of their card business?

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Capital One only bought their sub-prime (Orchard Bank) business.

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Yep, that's what I had, Orchard Bank. Thanks for the clarification.

[nyancat]

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@Anonymous wrote:

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@nyancat wrote:

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@Anonymous wrote:

I had no idea HSBC was still issuing cards. Capital One bought their card portfolio a few years ago, (I have a QS1 that used to be HSBC). Have they now gotten back in to the market, or did Cap One only buy part of their card business?

---

Capital One only bought their sub-prime (Orchard Bank) business.

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Yep, that's what I had, Orchard Bank. Thanks for the clarification.

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No worries, there definitely does seem to be a shortage of information regarding HSBC cards online though, they must be pretty rare.

[bz386]

Not much to say about them. HSBC is a pretty crappy bank. I have the HSBC Premier World MC, the big brother of your Platinum. It lives in my sock drawer, only reason I keep it is because it is my oldest account.

[Ron1]

Yes, I have had this card for 5 yrs. The rewards are just average. They just increased to $20K.


Ron.

[ecxpa]

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@nyancat wrote:

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@Anonymous wrote:

I had no idea HSBC was still issuing cards. Capital One bought their card portfolio a few years ago, (I have a QS1 that used to be HSBC). Have they now gotten back in to the market, or did Cap One only buy part of their card business?

---

Capital One only bought their sub-prime (Orchard Bank) business.

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They bought 2 of my HSBC cards and 3 Orchard Bank cards........maybe that's why they didn't grow.  Have gotten rid of 2 of those cards and the others are on the chopping block

[nyancat]

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@Ron1 wrote:
Yes, I have had this card for 5 yrs. The rewards are just average. They just increased to $20K.


Ron.

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Agreed, the rewards are rubbish. I want it for the contactless + no foreign transaction fee (great for overseas) and the potential that it might be a chip and PIN card now (I've heard rumours to that effect)... is it chip and PIN?

[Ron1]

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@nyancat wrote:

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@Ron1 wrote:
Yes, I have had this card for 5 yrs. The rewards are just average. They just increased to $20K.


Ron.

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Agreed, the rewards are rubbish. I want it for the contactless + no foreign transaction fee (great for overseas) and the potential that it might be a chip and PIN card now (I've heard rumours to that effect)... is it chip and PIN?

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Yes, it is chip and pin. I agree. I keep the card because I can use it outside of the country without foreign transaction fee. I also like PayPass and EMV all in one like Diner's Club.

Ron.