Was planning to close my HSBC secured card, But....

[Anonymous]

I sent a question about unsecuring the card and got an answer via Email..

Thank you for your interest in establishing an unsecured account.  Please note
that secured accounts are no longer reviewed for upgrade to an unsecured
status and redeeming the security deposit will close your secured Account.

If you would like to apply for an unsecured account, please visit us online at
www.hsbccreditcard.com.  

FYI, I tried the link and there are no credit cards to apply for.  So It appears I would have to apply for Orchard or Household Bank logo cards.    I tried the prequalify for Orchard and got the standard platinum offer (no rewards, $39 AF, 15% APR).   Decided to pass on that.

So I called to cancel the card.    They did not want me to close it.   They offered to add rewards to the account.   Still secured, same AF $35, but I get 1 pt per $1 for cash back or airline miles.   I took the deal.

Pleased and surprised.

AF is due in February,   I wonder if they will offer me something else to keep it.

[Cotton_Britches]

If you have other cards, I would suggest closing a card that charges you an annual fee. Not worth it for airliine miles, IMO.

[Anonymous]

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@Anonymous wrote:

I sent a question about unsecuring the card and got an answer via Email..

Thank you for your interest in establishing an unsecured account.  Please note
that secured accounts are no longer reviewed for upgrade to an unsecured
status and redeeming the security deposit will close your secured Account.

If you would like to apply for an unsecured account, please visit us online at
www.hsbccreditcard.com.  

FYI, I tried the link and there are no credit cards to apply for.  So It appears I would have to apply for Orchard or Household Bank logo cards.    I tried the prequalify for Orchard and got the standard platinum offer (no rewards, $39 AF, 15% APR).   Decided to pass on that.

So I called to cancel the card.    They did not want me to close it.   They offered to add rewards to the account.   Still secured, same AF $35, but I get 1 pt per $1 for cash back or airline miles.   I took the deal.

Pleased and surprised.

AF is due in February,   I wonder if they will offer me something else to keep it.

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Good, better than nothing ~  take the cash back to cover the AF!!
You have about 8-9 months ... try again before the AF's due date.

[Datx]

This is good to know. If they don't plan to review secured cards and unsecure them, then I will be likely to close my secured card before the AF hits in the new few months.

[iainlbc]

Congrats on your success!

What was your limit on the secured card when threatened the close?? How many years were you with them?

[Anonymous]

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@iainlbc wrote:

Congrats on your success!

What was your limit on the secured card when threatened the close?? How many years were you with them?

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Opened with $1100 in Jan 2010.   Heavy usage, 80 to 95%,  PIF every month.   Sometime paid extra to charge more during the month.   Never late.   Paid balance to $0 a few days before I called to cancel.