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Valued Contributor
usmc58555
Posts: 1,673
Registered: ‎02-18-2009

Re: WTF is up with HSBC


74king wrote:

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.

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.

 

 


Well from a marketing standpoint, Putting "Poor Credit Rebuilder" in large letters on the face of the card is not going to endear it to use and to its members. 

 

many of the class challenged members of the public need to have it as  a Gold Card to justify its expense and use.

 

I really do not care what color the cards are in my pocket I care about the rewards and policies of the card. Thats it really.


I laugh at work when I see people using rebuilders, just because I know what they are from the name.

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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: WTF is up with HSBC


usmc58555 wrote:

...I laugh at work when I see people using rebuilders, just because I know what they are from the name.



Really? I hope they're using their card to get their credit in better shape.

Lots of people have had to use rebuilders. It isn't just the feckless and undisciplined, you know.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Valued Contributor
usmc58555
Posts: 1,673
Registered: ‎02-18-2009

Re: WTF is up with HSBC

[ Edited ]


Really? I hope they're using their card to get their credit in better shape.

Lots of people have had to use rebuilders. It isn't just the feckless and undisciplined, you know.

I wish everyone good luck and no ill will.When the use the cards in my business they are not buying necessities and are invariably buying what they don't need,

 

BTW Orchard card holder from 2006. canceled in December of 2008, PIF may 15th 2009. So no I am not being some credit snob. 

 

I just laugh when I see people using a rebuilder on a purchase they don't need and Hope to heck they are using that as their "purchase" to show account activity.


Either- way not my problem.

Message Edited by usmc58555 on 06-28-2009 02:18 PM
Signature line begins:
Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,
Frequent Contributor
74king
Posts: 403
Registered: ‎04-08-2009

Re: WTF is up with HSBC


haulingthescoreup wrote:

usmc58555 wrote:

...I laugh at work when I see people using rebuilders, just because I know what they are from the name.

Really? I hope they're using their card to get their credit in better shape.

Lots of people have had to use rebuilders. It isn't just the feckless and undisciplined, you know.

I think what usmc58555 meant to say is those particular rebuilder cards that were mentioned are being laughed at. No ones knocking rebuilder cards per se as their are nice rebuilder cards out there that you can get without all the b.s. junk fee's, and processing fee's, & maintenance fee's etc. It's just these cards mentioned are the cards everyone sees and applies for when better cards are out there that's all. 

 

King

Equifax 787, TransUnion 793, Experian ? FAKO--> Who Cares
Established Contributor
Itsmeagain
Posts: 832
Registered: ‎01-16-2008

Re: WTF is up with HSBC

When I was rebuilding I proudly used my Orchard, Cap 1, Best Buy, Macys, and Hooters card to buy everything from soup to nuts.  I also listened to the posters here and learned to PIF before the statement dropped.  But I used them extensively and to the best of my knowledge, there was NO ONE who chuckled when I presented one of these cards to complete a purchase; whether it was for diapers for my grandson or for a new fishing pole for me. 

 

Now, because I have successfully followed the path to better credit,  I can present my Amex Gold Rewards Card, My Chase Emerald Card, My Discover More Card, My BoA Rewards Card or my Alliant Visa, to complete my transaction for the same items.  I wonder if they are still laughing?

 

My point is that no matter where you are in your quest to improve your credit, be PROUD of your accomplishments.  When that statement cuts and shows -0- balance, that is a victory.  When you call for a CLI and they say "Sure, how much do you want"? . . . . that is a victory.  When the phone rings and you don't worry about turning on the recorder, that is a victory.  When a nasty is removed from your credit report, that is a MAJOR victory.  And best of all, when the long time posters on this forum start telling you that you are doing the right things; it is a time to sit back, pat yourself on the back for a few minutes and enjoy the victory.  You've certainly earned it. And remember, no matter HOW the clerk may look at you while you're completeing your transaction, they are either envvious because you CAN ask for credit and have it approved; or angry because they can't.  Don't think the smirk or smile you get is anything but respect.  And that is as it should be.

 

Congratulations on your progress.


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Underh20
Posts: 322
Registered: ‎11-15-2008

Re: WTF is up with HSBC


Itsmeagain wrote:

Now, because I have successfully followed the path to better credit,  I can present my Amex Gold Rewards Card, My Chase Emerald Card, My Discover More Card, My BoA Rewards Card or my Alliant Visa, to complete my transaction for the same items.  I wonder if they are still laughing?


Regarding the Alliant Visa, they might be laughing.  Heck, even I laugh every time I pull it out and see that corny card design.  I really wish they'd charge it.  :smileyhappy:

 

Frequent Contributor
cw81
Posts: 273
Registered: ‎06-30-2008

Re: WTF is up with HSBC


Itsmeagain wrote:

When I was rebuilding I proudly used my Orchard, Cap 1, Best Buy, Macys, and Hooters card to buy everything from soup to nuts.  I also listened to the posters here and learned to PIF before the statement dropped.  But I used them extensively and to the best of my knowledge, there was NO ONE who chuckled when I presented one of these cards to complete a purchase; whether it was for diapers for my grandson or for a new fishing pole for me. 

 

Now, because I have successfully followed the path to better credit,  I can present my Amex Gold Rewards Card, My Chase Emerald Card, My Discover More Card, My BoA Rewards Card or my Alliant Visa, to complete my transaction for the same items.  I wonder if they are still laughing?

 

My point is that no matter where you are in your quest to improve your credit, be PROUD of your accomplishments.  When that statement cuts and shows -0- balance, that is a victory.  When you call for a CLI and they say "Sure, how much do you want"? . . . . that is a victory.  When the phone rings and you don't worry about turning on the recorder, that is a victory.  When a nasty is removed from your credit report, that is a MAJOR victory.  And best of all, when the long time posters on this forum start telling you that you are doing the right things; it is a time to sit back, pat yourself on the back for a few minutes and enjoy the victory.  You've certainly earned it. And remember, no matter HOW the clerk may look at you while you're completeing your transaction, they are either envvious because you CAN ask for credit and have it approved; or angry because they can't.  Don't think the smirk or smile you get is anything but respect.  And that is as it should be.

 

Congratulations on your progress.


 

 

+1000  to that   A wise man once said always have a credit plan  I can see you worked yours and you are reaping the rewards.  :smileyvery-happy:

Valued Contributor
wmarat
Posts: 1,754
Registered: ‎11-03-2007

Re: WTF is up with HSBC

I understand the need of so called rebuilders.

 

What I do not understand  why people voluntary agree to sign up for a card with insane fees.

 

First of all financial wisdom much more important than a few FICO points.

 

Second of all, I have recently researched CU's. A lot of them have so called rebuilder cards with no or very modest fee (but they do not call it Platinum) and APR.

 

 

Third of all, there is still option an of secured credit card (worked for me).

 

JMHO.

IN VINO VERITAS.
Established Contributor
Itsmeagain
Posts: 832
Registered: ‎01-16-2008

Re: WTF is up with HSBC

Alliant is NOT a rebuilder card.  When you present it, you show that you have achieved a level of trust that many others have not.  Laugh if you will but just be aware that those who only WISH they could qualify for such a prestigious card will not be laughing.

 

But yes, I wish they would change the appearance . . . . it's not so pretty.


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Current Score: TU 741 EQ 741
Goal Score: TU 765 EQ 760


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Frequent Contributor
Underh20
Posts: 322
Registered: ‎11-15-2008

Re: WTF is up with HSBC


Itsmeagain wrote:

Alliant is NOT a rebuilder card.  When you present it, you show that you have achieved a level of trust that many others have not.  Laugh if you will but just be aware that those who only WISH they could qualify for such a prestigious card will not be laughing.

 

But yes, I wish they would change the appearance . . . . it's not so pretty.


I'm sorry.  I did not mean to imply at all that Alliant is a rebuilder.  It most certainly is not.  For those who think it is a rebuilder, take a stroll along the two major Alliant threads on this forum to see.

 

I think the card design is pretty, just corny.  I wish they'd change to something like the Chicago skyline.


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