topic Re: Cap1 and HSBC converted cards in Credit Cards

UPDATE: Cap1 and HSBC converted cards

DoroLucky — Fri, 27 May 2016 15:43:12 GMT

I have an old 2010 account from HSBC that converted to CAP1 and is now a QS1 card with an annual fee of $59 (fee came with the card but Cap1 has been nice and has been waiving it).

I just tried combing it with my QS card was told they cannot combine a Cap1 product with a HSBC product. Am I missing here? Cap1 acquired HSBC therefore, the account is a CAP1 account and should be treated as such. No? BTW, I did this via chat. Should I be calling instead?

Also (very important) it is my oldest open account. If I can work my magic and get CAP1 to combine. Will I keep it's opening date and apr? I want to combine it with my QS card which is a little over a year old and has a 23.15% apr with no annual fee. Thanks!!

Opened: Nov. 26, 2010

Platinum MasterCard

Membership Fees:

$59.00 per year

Purchase APR:
15.15%

Credit Line:
$2,500.00

Re: Cap1 and HSBC converted cards

FinStar — Mon, 22 Feb 2016 18:09:17 GMT

Speaking to a CSR will likely not make a difference. It's either the accounts are eligible to be combined or not. Individuals have provided successful anecdotes in combining previous non-Capital One products (HSBC/Orchard) without issues while others have not been as successful. You could either keep waiting for a while or decide at some point what the best avenue will be for the card. Perhaps at some point you can try converting from QS1 > QS and *maybe* this will open the doors to combining the accounts.

You can read more about those experiences (granted it's a lengthy read but it's there for a reason and provides a wealth of experiences):

http://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-Card-Consolidation/td-p/4113430

ETA - if the system eventually allows a combo of your HSBC/QS1 card into QS - you will not preserve the open date of the account once combined. The HSBC/QS1 will be closed and the QS will be the account that retains its open date (i.e. will not backdate).

Re: Cap1 and HSBC converted cards

DoroLucky — Mon, 22 Feb 2016 18:22:23 GMT

@FinStar wrote:
Speaking to a CSR will likely not make a difference. It's either the accounts are eligible to be combined or not. Individuals have provided successful anecdotes in combining previous non-Capital One products (HSBC/Orchard) without issues while others have not been as successful. You could either keep waiting for a while or decide at some point what the best avenue will be for the card. Perhaps at some point you can try converting from QS1 > QS and *maybe* this will open the doors to combining the accounts.

You can read more about those experiences (granted it's a lengthy read but it's there for a reason and provides a wealth of experiences):

http://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-Card-Consolidation/td-p/4113430

ETA - if the system eventually allows a combo of your HSBC/QS1 card into QS - you will not preserve the open date of the account once combined. The HSBC/QS1 will be closed and the QS will be the account that retains its open date (i.e. will not backdate).

Eeeeeeekk...well I'm going to try for the QS conversion whem it's eligible. I'll hold on to it for now since it's my oldest open account. Thanks so much!

Re: Cap1 and HSBC converted cards

FinStar — Mon, 22 Feb 2016 18:29:52 GMT

@DoroLucky wrote:

@FinStar wrote:
Speaking to a CSR will likely not make a difference. It's either the accounts are eligible to be combined or not. Individuals have provided successful anecdotes in combining previous non-Capital One products (HSBC/Orchard) without issues while others have not been as successful. You could either keep waiting for a while or decide at some point what the best avenue will be for the card. Perhaps at some point you can try converting from QS1 > QS and *maybe* this will open the doors to combining the accounts.

You can read more about those experiences (granted it's a lengthy read but it's there for a reason and provides a wealth of experiences):

http://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-Card-Consolidation/td-p/4113430

ETA - if the system eventually allows a combo of your HSBC/QS1 card into QS - you will not preserve the open date of the account once combined. The HSBC/QS1 will be closed and the QS will be the account that retains its open date (i.e. will not backdate).

Eeeeeeekk...well I'm going to try for the QS conversion whem it's eligible. I'll hold on to it for now since it's my oldest open account. Thanks so much!

I would recommend converting the QS1 to QS when that opportunity is available. This way, no more AF. And, while you can end up with 2 QS cards, you are not losing on rewards. What APR do you currently have on QS1? And what about on the QS card? I can see wanting to keep the oldest account open, but there might be a better strategy down the road.

Re: Cap1 and HSBC converted cards

DoroLucky — Mon, 22 Feb 2016 18:35:06 GMT

QS1 apr 15.15% and QS 23.15%

Re: Cap1 and HSBC converted cards

FinStar — Mon, 22 Feb 2016 18:46:58 GMT

@DoroLucky wrote:
QS1 apr 15.15% and QS 23.15%

Here's what you can do - if it's been >6 months when you last converted to QS1 (or if the product yielded the QS1 as a result of the HSBC/Capital One conversion), then you can try and see if they can PC from QS1 > QS. I believe you may need to wait for a bit to combine them to make sure the changes take effect with your profile.

Then, check the account combination link to determine if the system allows it to be processed. Combine the newer QS with the higher APR into your low APR QS and this way you can preserve the oldest date with the lower APR.

Re: Cap1 and HSBC converted cards

DoroLucky — Mon, 22 Feb 2016 18:53:33 GMT

You're a genius! Hahaha I did not think of that. I will do just that in due time. Don't think it's been 6 months since the last product change to QS1. I have a balance on my QS card anyway and I can't combine it now if I wanted to. I did try for a product change last week and the QS1 wasn't eligible.

Re: Cap1 and HSBC converted cards

FinStar — Mon, 22 Feb 2016 19:02:37 GMT

@DoroLucky wrote:
You're a genius! Hahaha I did not think of that. I will do just that in due time. Don't think it's been 6 months since the last product change to QS1. I have a balance on my QS card anyway and I can't combine it now if I wanted to. I did try for a product change last week and the QS1 wasn't eligible.

Just passing along the knowledge

So, it sounds like it's just a matter of time since I believe the system restricts any PCs to 6 months. But yes, if you can successfully get the QS1 PC'd to QS, then you can work your magic afterwards. Make sure balances are clear, and if you have some rewards balance, combine the rewards first. If the system doesn't allow the combination of the rewards (I think this was restricted until further notice), then just redeem them for the account that will be closed and then proceed with the account combo.

Re: Cap1 and HSBC converted cards

DoroLucky — Mon, 22 Feb 2016 19:13:24 GMT

THANK YOU!!! Last year I wanted to combine rewards and was told, they will resume that in Match or April of this year.

Re: Cap1 and HSBC converted cards

DoroLucky — Mon, 22 Feb 2016 19:19:34 GMT

Just checked and the product change to the QS1 took place last April. Hmmm that's beyond 6 months ***scratches***

Re: Cap1 and HSBC converted cards

FinStar — Mon, 22 Feb 2016 19:23:34 GMT

@DoroLucky wrote:
Just checked and the product change to the QS1 took place last April. Hmmm that's beyond 6 months ***scratches***

Ok, which method did you use to check last time to see if the QS1 could be PC'd - was it via Chat or phone? And, how long ago?

Re: Cap1 and HSBC converted cards

DoroLucky — Mon, 22 Feb 2016 19:24:54 GMT

Last week, via chat LOL....I hate talking to them.

Re: Cap1 and HSBC converted cards

FinStar — Mon, 22 Feb 2016 19:29:07 GMT

@DoroLucky wrote:
Last week, via chat LOL....I hate talking to them.

I can certainly understand. Sometimes you can get knowledgeable CSRs but other times it's hit or miss. Try calling the 800# instead and ask to see if your QS1 account can be reviewed or elegible for a QS. I know you probably would hesitate, but think of the end result we want to accomplish! Kinda like walking on hot coals... just close your eyes, walk fast until you reach the end - no burns!

Re: Cap1 and HSBC converted cards

DoroLucky — Mon, 22 Feb 2016 19:38:53 GMT

Calling now.

Re: Cap1 and HSBC converted cards

FinStar — Mon, 22 Feb 2016 19:44:02 GMT

@DoroLucky wrote:
Calling now.

Ok. Keep me posted, and depending on the outcome, we can strategize on the next move.

Re: Cap1 and HSBC converted cards

DoroLucky — Mon, 22 Feb 2016 20:00:58 GMT

No luck today because there are no offers for conversion and "system" won't allow them without one. However, they did state they will keep waiving the AF. I'll revisit the issue again in a about 3 months LOL.

Re: Cap1 and HSBC converted cards

FinStar — Mon, 22 Feb 2016 20:01:03 GMT

@DoroLucky wrote:
No luck today because the "system" won't allow them. However, they did state they will keep waiving the AF. I'll revisit the issue again in a about 3 months LOL.

Hmmmm, bummer! Ok, I'll PM you another strategy.

Re: Cap1 and HSBC converted cards

DoroLucky — Mon, 22 Feb 2016 20:02:45 GMT

@FinStar wrote:
@DoroLucky wrote:
No luck today because the "system" won't allow them. However, they did state they will keep waiving the AF. I'll revisit the issue again in a about 3 months LOL.
Hmmmm, bummer! Ok, I'll PM you another strategy.

You're so kind, thanks. BTW, my Equifax FINALLY hit 700 today so I'm not totally bummed about not being about to convert lol

Re: Cap1 and HSBC converted cards

DoroLucky — Mon, 22 Feb 2016 20:06:00 GMT

Now if only Experian would get a lil boost!

Re: Cap1 and HSBC converted cards

FinStar — Mon, 22 Feb 2016 20:12:57 GMT

@DoroLucky wrote:
@FinStar wrote:
@DoroLucky wrote:
No luck today because the "system" won't allow them. However, they did state they will keep waiving the AF. I'll revisit the issue again in a about 3 months LOL.
Hmmmm, bummer! Ok, I'll PM you another strategy.
You're so kind, thanks. BTW, my Equifax FINALLY hit 700 today so I'm not totally bummed about not being about to convert lol

Congrats on the score boost! Great accomplishment. I'm sure EX will eventually ride the same wave in no time. And, no worries about the PC. We'll formulate a plant to see what can be done