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I have thought about it. I had my Experian frozen almost a year and within an hour of unfreezing it, I had applied for Householdbank Mastercard, Sears Marstercard and Best Buy Mastercard all pulling EX. oh and Citi back Sears Card and Sears Mastercard which both pulled EQ which now has about 15 inq.
about the only good thing out of this HSBC Sears card for the next year which I won't charge a $1 on is my Free EX Fico score that comes with it.
@Creditaddict wrote:I have thought about it. I had my Experian frozen almost a year and within an hour of unfreezing it, I had applied for Householdbank Mastercard, Sears Marstercard and Best Buy Mastercard all pulling EX. oh and Citi back Sears Card and Sears Mastercard which both pulled EQ which now has about 15 inq.
about the only good thing out of this HSBC Sears card for the next year which I won't charge a $1 on is my Free EX Fico score that comes with it.
Good luck! If you think you have enough credit you should seriously put a freeze on all of your reports. You don't want those inquiries to cause you to have subprime FICO scores. I have a freeze on all of my reports. This time next year, I will have only 10 inquries on my EQ, and 0 on my EX and TU reports.
@Creditaddict wrote:
I have to move in a couple months, I will freeze them after that fact... moving was a real pain with my Ex froze... all apts seem to pull it
You can always temporarily remove the freeze. I recently temporarily removed my EQ freeze for free for one month while I went on a mini app spree. I needed to replace some cards. Now the freeze is back active with all 4 CRA's.
CreditAddict, HSBC does this to many customers at one time or another, and may have nothing to do with your account being new, etc... They put a hold on releasing my available credit after making an electronic payment on their site a couple years ago as well. It only happened one time, and I'd been with them for years, and the card was prime (Visa Elite). The payment wasn't even that much...I'd charged and paid 5x that in prior billing cycles, but I was sporadic in my spending with them, so that could have been an issue. I think it was a $300+ payment or something like that. Just something quirky they do, and is NOT personal. It actually freed up after about 5 days at most...was not a full 14 day hold as they told me it might be.
By the way, don't you get a real TransUnion bank-enhanced FICO score with that HSBC issued Sears card, as a perk? I'd definitely keep it just for that, and if you've closed it already, maybe call them back and reopen it.
edited to change: It's a TransUnion bank-enhanced FICO score I believe; not Experian. Oops.
TangMeister wrote:
CreditAddict, HSBC does this to many customers at one time or another, and may have nothing to do with your account being new, etc... They put a hold on releasing my available credit after making an electronic payment on their site a couple years ago as well. It only happened one time, and I'd been with them for years, and the card was prime (Visa Elite). The payment wasn't even that much...I'd charged and paid 5x that in prior billing cycles, but I was sporadic in my spending with them, so that could have been an issue. I think it was a $300+ payment or something like that. Just something quirky they do, and is NOT personal. It actually freed up after about 5 days at most...was not a full 14 day hold as they told me it might be.
By the way, don't you get a real TransUnion bank-enhanced FICO score with that HSBC issued Sears card, as a perk? I'd definitely keep it just for that, and if you've closed it already, maybe call them back and reopen it.
edited to change: It's a TransUnion bank-enhanced FICO score I believe; not Experian. Oops.
Message Edited by TangMeister on 10-11-2009 02:47 PM
TU Enhanced... I wish I still had a credit card machine, I would charge .01 Each month to make them send me a statement all year. I want them to have to spend money on my account for that annual fee that they do not deserve. I think I will add it to my paypal and do it!!
I can't wait until my USBank Signature is paid off and I can carry that as my every day use card but I told myself I could not carry it until it had a $0 balance!