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HSBC Credit Card Sale to Capital One

Valued Contributor

HSBC Credit Card Sale to Capital One

Latest Press Release - doesn't say a whole lot but it's an update.

 


 

While HSBC Finance Corp. will cease issuing credit cards, HSBC Bank U.S.A. will continue to do so, the lender said. HSBC is selling part of the HSBC Bank U.S.A. credit card business and its upstate New York branch network to First Niagara Financial Group Inc. (FNFG), the bank said.

 

http://www.bloomberg.com/news/2012-05-02/hsbc-gets-31-3-billion-in-cash-for-u-s-card-and-retail-sale...

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Valued Contributor

Re: HSBC Credit Card Sale to Capital One


pipeguy wrote:

Latest Press Release - doesn't say a whole lot but it's an update.

 


 

While HSBC Finance Corp. will cease issuing credit cards, HSBC Bank U.S.A. will continue to do so, the lender said. HSBC is selling part of the HSBC Bank U.S.A. credit card business and its upstate New York branch network to First Niagara Financial Group Inc. (FNFG), the bank said.

 

http://www.bloomberg.com/news/2012-05-02/hsbc-gets-31-3-billion-in-cash-for-u-s-card-and-retail-sale...


On my way into work, the huge HSBC building in suburban Chicago has already been rebranded, the HSBC sign was replaced with a Cap1 sign -- that was quick. When I worked at Bank One it took a while to rebrand to Chase.

 

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX