Marbles MC pre-approved offer?

[haulingthescoreup]

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@Schoolbuskid wrote:

I actually received a pre-approved offer from Marbles opened it and then immediately threw it away i have never even heard of these people!

Also what is so wrong with HSBC, you guys are scaring me because i have just been approved for a loan thru them! Should i know something about them? Im just kinda starting out so i got stuck with a 22.95% interest rate! OUCH! But you have to start somewhere!

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HSBC is fine, just don't expect them to necessarily turn into American Express. They are exactly what they are. Don't get offended if your cards don't grow with you as your credit improves. Keep your nose clean, pay on time, don't get frisky, and use them to build up your credit profile.

[moonman]

actually hsbc sold marbles to a company (10-30-07) to a company called sav credit ltd.SAV was founded in 2001 as a provider of credit cards to consumers unable to get cards among mainstream lenders. It has opened more than 150,000 credit card accounts.

[Anonymous]

I have no problems with the one I have.  It definitely hasn't behaved as a subprime exactly (and I haven't given them reason to) except the amount of the first CLI on the card.  Started off with a great limit for my profile at the time.  

I think getting to the uber-prime market is a building process and as lo0ng as you don't get one of their really sucky ones with annual fess and fees to increase the CL, you aren't doing too bad.

[Anonymous]

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moonman wrote:
actually hsbc sold marbles to a company (10-30-07) to a company called sav credit ltd.SAV was founded in 2001 as a provider of credit cards to consumers unable to get cards among mainstream lenders. It has opened more than 150,000 credit card accounts.

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Thanks moonman, that card definitely seems uber-sub by the description of the lender.  I would love to see the T&Cs.

[Anonymous]

Just did some research on this company online and it sounds like they only issue this card in the uk?

[SmartCookie]

Thank you guys and gals for all of the input.  This is a little strange... as if HSBC sent out boxes of old mail or something.  Here are the main facts... I'm typing in the dark.

Marbles is HFC on the application and issues by HSBC Nevada... all on app.

On the T & C which says it is accurate as of 9/30/07:

$39 annual fee

0% APR promo thru Nov 30th 2008. 12.9V thereafter

Average Daily Balance,25 day grace period

Horrendous cash advance and default rates.

Some sort of possible CLI Fee Finance Charge dependent on 'creditworthiness'

So sub-prime for sure, not uber I'd say since no monthly fees and the annual fee isn't insane and the good APR.... but pretty darn down there on within the sub-prime scale.

On the app it says that if HSBC cannot give you the Marbles card you are applying to be considered for other HSBC cards.  If they really have stopped all affiliation with Marbles apps, I smell a class action.