Who's taking over HSBC?

[Believe1970]

Has anyone rad or heard anything new?

[Anonymous]

No, there is no news at the moment. HSBC is trying to sell their cc business at a premium. They have had as much luck with that as GEMB before. We all know how that ended.

They might have to split the business up into more digestible pieces in order to find a buyer.

Edit: You are free to add to the speculation thread further down on this page .

[Wolf3]

My own total speculation ( no facts involved ).

Wells Fargo takes most of HSBC bank accounts and HSBC credit cards on the West Coast.   

HSBC keeps a few branches and customers invovled with Asian business.

Barclays or GEMB takes the cobranded and store accounts (Neimans, Saks, BB)

Capital One takes Orchard and Household.

[Uborrow-Upay]

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@Wolf3 wrote:

My own total speculation ( no facts involved ).

Wells Fargo takes most of HSBC bank accounts and HSBC credit cards on the West Coast.   

HSBC keeps a few branches and customers invovled with Asian business.

Barclays or GEMB takes the cobranded and store accounts (Neimans, Saks, BB)

Capital One takes Orchard and Household.

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+1

(You're smarter than you look, even though I can't see you....)  

You may be totally right on here.

[doublespaces]

Whoever does it, I hope they will offer CLI's.... Can't be stuck with a 300 CL forever

[daylove]

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@Believe1970 wrote:

Has anyone rad or heard anything new?

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in this financial meltdown NO ONE

[Wolf3]

From HSBC FAQ for New York branches sale to First Niagra.  Note that HSBC Logo cards are handled differently than other Logo (Orchard, Household).

16. I have a non-HSBC Credit Card, but see the HSBC logo on the back. Will this credit card transfer to First Niagara?

No. Upon completion of the sale, only HSBC branded credit cards for customers who have accounts at an HSBC branch that is included in this transaction will transfer.

17. I reside near a branch that is being sold. I have a HSBC credit card but no other products with HSBC. Will my credit card transfer?

Yes, Upstate customers holding HSBC credit cards but no other product with HSBC will be impacted in this transaction and their credit card will transfer to the buyer.