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2 products is wrong.
my friend has Best Buy, Saks, Neiman Marcus.
I think the 2 products only counts for 1 HSBC credit card and 1 Orchard Credit Card
They will give you products as long as you meet their underscoring guiedlines. All lenders that I'm aware of don't want to issue 2 new accounts at the same time (think of as they are doubling their risk)
If you have a good enough credit score, wait a few months and re apply. I really do like the idea of calling and asking for a different product. But remember that it may have different guidelines as well.
As far as the store branded cards (bestbuy, target, etc) keep in mind that the stores bear some the risk of these cards as well and set some of the risk guidelines for the issuance.
@203bravo wrote:They will give you products as long as you meet their underscoring guiedlines. All lenders that I'm aware of don't want to issue 2 new accounts at the same time (think of as they are doubling their risk)
If you have a good enough credit score, wait a few months and re apply. I really do like the idea of calling and asking for a different product. But remember that it may have different guidelines as well.
As far as the store branded cards (bestbuy, target, etc) keep in mind that the stores bear some the risk of these cards as well and set some of the risk guidelines for the issuance.
how would the store be taking any risk if they don't manage the account themselves.
bestbuy is a HSBC card... HSBC issues it and takes the risk
Target is different because they have there own bank and back there own cards.
but store that don't have there own banks don't have anything to do with the credit card.
Ok, you are speaking very broadly about lenders and nothing you wrote pertains to HSBC. And doubling the risk... WHAT?? If you find me worthy of lets say, $1000 credit, and you give me one card at $500 and another at $500, the risk is the same because IM THE SAME PERSON! And of course even if that odd logic worked, you are still more often doubling your profit.
You say if your score is good, wait a month and apply again.. If you read above you would see that that wouldnt work. And your store branded card info made no sence.
@203bravo wrote:They will give you products as long as you meet their underscoring guiedlines. All lenders that I'm aware of don't want to issue 2 new accounts at the same time (think of as they are doubling their risk)
If you have a good enough credit score, wait a few months and re apply. I really do like the idea of calling and asking for a different product. But remember that it may have different guidelines as well.
As far as the store branded cards (bestbuy, target, etc) keep in mind that the stores bear some the risk of these cards as well and set some of the risk guidelines for the issuance.