Credit Cards

[neverrain]

I received this offer today, and I was surprised to see it actually had some non BB rewards on it.  Since I currently don't have any rewards type card, I would be interested in using this.  The offer came backed by HSBC.

I remember seeing somewhere that HSBC won't allow you to have 2 cards through them at the same time.  I currently have a sock drawered Orchard Card that I will likely be closing if they don't provide a good CLI and drop the AF when renewal time comes in August (they wouldn't discuss it until then).

Is this still true?  If I can't have both, can I drop the Orchard card and take this offer immediately?  Anyone have both?

[logan_720]

I'm not 100% certain, but I wanna say they will most likely give you either a low, $300, or $500 CL with an AF between $39 and $59. The card will most likely not grow with you either...just my opinion/experience.

[scottwagnon]

yes, its a card that is definitely not worth it. though it may be a builder card, it doesn't grow too well. go for a credit union cc. it seems individuals with fair credit have better luck at obtaining credit with the smaller banks/credit unions. you may also want to go for a secured card with a credit union or small bank if you credit is bad enough.

just about anyone can get a secured gold applied bank card. but do this as a last resort. (if you cant get approved for the pre select offer) but i am sure you wont have to go there.

[neverrain]

Yea, I've already got a few cards, Barclay (1300), Cap1 (500), Orchard (420), and a secured card with my CU for $900.  I would like something with rewards that I can funnel my day to day through, but I'm not sure what I would qualify for with my scores.  My credit history is spotless except the elephant in the room that looks like a ~$25k charged off private student loan from 6 years ago, that I seem to be unable to fix aside from a PIF or settlement.  Heh.

[logan_720]

I would definitely try for a different card. Have you considered the American Express Zync or the Barclay Reward Mastercard?

[scottwagnon]

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neverrain wrote:

Yea, I've already got a few cards, Barclay (1300), Cap1 (500), Orchard (420), and a secured card with my CU for $900.  I would like something with rewards that I can funnel my day to day through, but I'm not sure what I would qualify for with my scores.  My credit history is spotless except the elephant in the room that looks like a ~$25k charged off private student loan from 6 years ago, that I seem to be unable to fix aside from a PIF or settlement.  Heh.

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i would say you are good. you need to garden for a long time and no more hunting until your CO falls off.

[LS2982]

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neverrain wrote:

I received this offer today, and I was surprised to see it actually had some non BB rewards on it.  Since I currently don't have any rewards type card, I would be interested in using this.  The offer came backed by HSBC.

I remember seeing somewhere that HSBC won't allow you to have 2 cards through them at the same time.  I currently have a sock drawered Orchard Card that I will likely be closing if they don't provide a good CLI and drop the AF when renewal time comes in August (they wouldn't discuss it until then).

Is this still true?  If I can't have both, can I drop the Orchard card and take this offer immediately?  Anyone have both?

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I have 2 HSBC accounts myself. But I wouldn't app for the BBRZ because your likely to get a toy limit that will not grow with your current siggy scores.