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Frequent Contributor
bott6698
Posts: 491
Registered: ‎06-26-2007

Would closing Orchard and Best Buy cards hurt me?

These HSBC cards upset me to no end because I have had them for about 1 year each and never ever paid late and kept a small balance with them. I backdoored to get CLI since I feel after 1 year I deserve it and they denied me. They gave me a $20 increase per card about 6 months back and I take that as just an insult. These are all my cards, Tell me if you think closing these guys and not having to continue paying that dang $79 AF per card will hurt me or not.I know closing cards are never a good idea but I don't want to give them my business anymore if it doesn't hurt me...

 

All cards were gathered in april-may 2008

Macys
Toys R US

Zales
Crown Jewelers
Kay
Best Buy Master card
Orchard
Home Depot

 

 

Thanks,

 

 

 

 

 

01/31/2008 EX 502 EQ 466 TU 481
3/14/2008 EX 578 EQ 539 TU 543
4/16/2008 EX 622 EQ 532 TU 578
5/19/2008 EX 604 EQ 591 TU 592
1/1/2009 EQ 625 EX 576 TU 569
02/13/2009 EQ 648 EX 617 TU 590
09/28/2009 EQ 568 TU 591
Thanks to all Fico supporters for your encouragement and advice
Frequent Contributor
74king
Posts: 403
Registered: ‎04-08-2009

Re: Would closing Orchard and Best Buy cards hurt me?


bott6698 wrote:

These HSBC cards upset me to no end because I have had them for about 1 year each and never ever paid late and kept a small balance with them. I backdoored to get CLI since I feel after 1 year I deserve it and they denied me. They gave me a $20 increase per card about 6 months back and I take that as just an insult. These are all my cards, Tell me if you think closing these guys and not having to continue paying that dang $79 AF per card will hurt me or not.I know closing cards are never a good idea but I don't want to give them my business anymore if it doesn't hurt me...

 

All cards were gathered in april-may 2008

Macys
Toys R US

Zales
Crown Jewelers
Kay
Best Buy Master card
Orchard
Home Depot

 

 

Thanks,

 

 

 

 

 


I would not hold an HSBC/HOUSEHOLD/ORCHARD card etc. as they are extremly stingy when it comes to CLI's and customer service is poor. It's all over the net and in here.They are the poster child of a BAD BANK to aviod at all cost. So no get rid of them now.......:smileywink: You won't regret it

Equifax 787, TransUnion 793, Experian ? FAKO--> Who Cares
Contributor
Creditfreeze
Posts: 90
Registered: ‎02-09-2009

Re: Would closing Orchard and Best Buy cards hurt me?

Maybe you can look into apping for a Discover with 0% BT and getting rid of those punk cards. I hate HSBC,I was with them 2 years always PIF for Best Buy purchases. Never late,never a CLI
737 Your FICO® score of 737
is better than 55%
of US Consumers.
Factors affecting your score
Frequent Contributor
bott6698
Posts: 491
Registered: ‎06-26-2007

Re: Would closing Orchard and Best Buy cards hurt me?

[ Edited ]

Credit Freeze my current scores are 589 TU 589 EX 637 EQ. I am currently trying to boost my score to refi my house

so not looking to ap for any more cards till after that is accomplished plus at these scores the only chance I would have is by EQ and I don't know many places that would give me a decent CC with just a 637 EQ score. Do you know of any besises CU's? My local credit union won't give me one because my EQ bni score is too high, So I need someone that also doesn't use that BNI score and maybe just an automatic system that only pulls EQ score only. If you have any ideas let me know thanks.

 

So you guys don't feel closing these guys off will hurt my score then?

Message Edited by bott6698 on 05-18-2009 07:23 AM
01/31/2008 EX 502 EQ 466 TU 481
3/14/2008 EX 578 EQ 539 TU 543
4/16/2008 EX 622 EQ 532 TU 578
5/19/2008 EX 604 EQ 591 TU 592
1/1/2009 EQ 625 EX 576 TU 569
02/13/2009 EQ 648 EX 617 TU 590
09/28/2009 EQ 568 TU 591
Thanks to all Fico supporters for your encouragement and advice
Regular Contributor
pumbaablah
Posts: 190
Registered: ‎08-14-2008

Re: Would closing Orchard and Best Buy cards hurt me?

i just decided to close my orchard bank cc today after almost a year. They tried to convince me to stay with the half off annual fee but i declined and just canceled it. It has done its job for the rebuilding process. Losing a 300cl wont hurt me much
Frequent Contributor
74king
Posts: 403
Registered: ‎04-08-2009

Re: Would closing Orchard and Best Buy cards hurt me?


pumbaablah wrote:
i just decided to close my orchard bank cc today after almost a year. They tried to convince me to stay with the half off annual fee but i declined and just canceled it. It has done its job for the rebuilding process. Losing a 300cl wont hurt me much

You did the right thing....Congrats:smileywink:

Equifax 787, TransUnion 793, Experian ? FAKO--> Who Cares
Regular Contributor
pumbaablah
Posts: 190
Registered: ‎08-14-2008

Re: Would closing Orchard and Best Buy cards hurt me?

I would have to honestly say it felt REAL GOOD cutting that card up. Moving on up!
Frequent Contributor
74king
Posts: 403
Registered: ‎04-08-2009

Re: Would closing Orchard and Best Buy cards hurt me?

[ Edited ]

pumbaablah wrote:
I would have to honestly say it felt REAL GOOD cutting that card up. Moving on up!

That's right keep moving on up.....Orchard or any HSBCsub prime card isn't worth carrying.It has served it's purpose. Try Preapproval at B of A see if they have something for you. Never know:smileywink:

Message Edited by 74king on 05-18-2009 06:10 PM
Equifax 787, TransUnion 793, Experian ? FAKO--> Who Cares
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007

Re: Would closing Orchard and Best Buy cards hurt me?

You got like 7-8 cards in the past year? I wouldn't apply for anything.
Established Contributor
Itsmeagain
Posts: 832
Registered: ‎01-16-2008

Re: Would closing Orchard and Best Buy cards hurt me?

Macys gives CLI every three months like clockwork and no AF.  See if they will offer the Macy's Visa without a hard pull.  Best buy has been very good to me also.  Store card just increased my CL from $4200 to $8400.  Of course you have to call and ask.  I have no problems with HSBC.  I buy a lot of electronics and always use the 6 mo. no interest offer, then PIF.  I also have the Best Buy Visa.  They are a little stingier with their CLI's but I just got one for $300.  Always PIF these cards and they will grow with you.

Starting Score: TU 737 EQ 721
Current Score: TU 741 EQ 741
Goal Score: TU 765 EQ 760


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