WTF is up with HSBC

[Anonymous]

I got a orchard card in the mail today they said there doing away with HSBC wildlife card and automatically sending a orchard card with the same account # as my hsbc CC without giving me the option of denying it. How can they do this? I had a orchard and closed it cause they charged you every time to get a CLI.

[Anonymous]

they are sub prime

they give you one or two good things then shaft you on others

in my case, i get free CLI's(according to terms and conditions), but i pay 96 dollars a year to have the card.

i have a relatively low 8.9% apr... but i found out today after making my first payment that 266 of my 267 payment that i made will be held up to 14 business days... so of a 300 limit i have 23 dollars available.. good thing its just a credit rebuilder and i dont really need a credit card lol

 so in closing they can do whatever they want when they want.. i actually remember reading something to that tune in the terms and conditions when i first applied for the card.. .but with my scores im just happy someone accepted me

[heirophant]

They basically did the same thing to me, although my T & C's didn't change and I went to Household Bank.  But I consider Household pretty much the same as Orchard.  The cards described seem to match exactly with Orchard, just a different name.  See this post I posted last week.  Of course nobody ever responded to it.  Like you, I had no choice in the matter.

http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&message.id=166630&query.id=18664...

[jkfaria]

Good evenin' all.   I just received a letter and a hideous gold Orchard Card.   The letter states " HSBC will discontinue its Progressive Farmers Mastercard."   I had no idea I had anything but a Gold HSBC Mastercard!!

This feels sorta like a 'demotion' to me, although my CL remains the same.  But I closed/combined my Orchard card with My HSBC earlier this year in an attempt to be done with the "credit builder" cards.

I'm hoping to possibly do a 'product change' to maybe the HSBC Weekender by calling the backdoor #.  Any thoughts??

[Anonymous]

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@jkfaria wrote:

Good evenin' all.   I just received a letter and a hideous gold Orchard Card.   The letter states " HSBC will discontinue its Progressive Farmers Mastercard."   I had no idea I had anything but a Gold HSBC Mastercard!!

This feels sorta like a 'demotion' to me, although my CL remains the same.  But I closed/combined my Orchard card with My HSBC earlier this year in an attempt to be done with the "credit builder" cards.

I'm hoping to possibly do a 'product change' to maybe the HSBC Weekender by calling the backdoor #.  Any thoughts??

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That is their whole point is to keep you from growing by making plenty of money by changing terms etc. charging consumer for CLI's Orchard/Household/HSBC is the same thing sub-prime trash. Not all HSBC products are sub-prime though but these so-called rebuilder cards are a joke. You can't grow, and they don't want you too.

(example) They invite you to dinner at their restaurant and you eat then pay for your meal, then they state come on back to the kitchen and wash these dishes as well so you can pay for your meal when you have already paid for your meal. Always trying to get something extra, that's HSBC/Orchard/Household or whatever they are calling themselves these days they are all the same. You were correct you are being demoted (I THINK)

King   

Message Edited by 74king on 06-28-2009 08:12 AM

[iwantbettercredit]

I received their hideous ORCHARD GOLD CARDs(nothing gold about it but the color) today also to replace my HSBC World Travelers of America card. I am not happy they did this, not that HSBC is any better if, I have been working on paying off anything from orchard and/or HSBC because they stink and are basically from the same company just different divisions.  Now I will pay this one off faster.

[jkfaria]

Well, I am going to call this week and see if I can "product change" to HSBC Discover.  I read somewhere that HSBC only requires a 660 Fico score for this card and that's in my range...

I'll let y'all know what happens...

[Anonymous]

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@iwantbettercredit wrote:
I received their hideous ORCHARD GOLD CARDs(nothing gold about it but the color) today also to replace my HSBC World Travelers of America card. I am not happy they did this, not that HSBC is any better if, I have been working on paying off anything from orchard and/or HSBC because they stink and are basically from the same company just different divisions.  Now I will pay this one off faster.

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My problem with these card are they try and hide what they really are and don't tell you everything, while charging for everything. Take your Orchard Gold Card that they sent you, as you just stated their is nothing Gold about that card except color wise.

These banks call their cards"Gold" or "Platinum" but it's in name only. They are watering down the brand calling it Gold or Platinum when you have a $200 or $300 line of credit with all those fee's attached is absolutely despicable and insulting to do that to a consumer. Gold or Platinum is supposed to be Prestigious not an insult when the card arrives.

As these cards offer no chance to grow or any real benefits and you find that out later when you call for an increase they charge for that, if you want to look at your statement online or have online access they charge for that, processing fee's, maintenance fee's, &  extortion-like annual fee's.

These cards offer nothing but a tradeline that posts that you are having to basically pay for. They are no different in my mind then say a Crown Jewelers.  I just get sick and tired of banks doing this too people, treat the consumer with some decency and respect.

King

[Anonymous]

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@jkfaria wrote:

Well, I am going to call this week and see if I can "product change" to HSBC Discover.  I read somewhere that HSBC only requires a 660 Fico score for this card and that's in my range...

I'll let y'all know what happens...

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Good luck with that..I hope you receive a decent credit line. HSBC Discover is sub-prime but they have been known to give out decent lines every so often.

King 

[Anonymous]

I haven't had the best success with HSBC, I'd cut the card.