topic Re: HSBC Mastercards--Anyonne With Recent Experience? in Credit Cards

HSBC Mastercards--Anyonne With Recent Experience?

Credit-hoarder — Mon, 07 Aug 2017 01:25:15 GMT

I was thumbing through the credit card section of a different finance page last nigh and saw the HSBC Platinum Mastercard. I didn't realize they still issued cards--I thought that was gone when CO took over. Anyone have one of their recent cards that can shed some info on it like what bureau do they pull? How are they with SLs and CLIs? and so forth.....?

Re: HSBC Mastercards--Anyonne With Recent Experience?

Anonymous — Mon, 07 Aug 2017 01:56:44 GMT

@Credit-hoarder wrote:
I was thumbing through the credit card section of a different finance page last nigh and saw the HSBC Platinum Mastercard. I didn't realize they still issued cards--I thought that was gone when CO took over. Anyone have one of their recent cards that can shed some info on it like what bureau do they pull? How are they with SLs and CLIs? and so forth.....?

,Looks like they still have a selection of cards for US customers, But don't know the answers to your questions...

https://www.us.hsbc.com/1/2/home/personal-banking/credit-cards

What is interesting is the

Premier World Mastercard

In the details it says:

Our Rewards for Miles program allows you to transfer your Points to participating airline frequent flyer programs.

I hadn't heard that HSBC also had a transfer program

Re: HSBC Mastercards--Anyonne With Recent Experience?

wasCB14 — Mon, 07 Aug 2017 02:05:49 GMT

How fee-ridden was Orchard within the world of subprime?

Re: HSBC Mastercards--Anyonne With Recent Experience?

CreditCuriosity — Mon, 07 Aug 2017 02:07:01 GMT

@wasCB14 wrote:
Wasn't HSBC a big US subprime card issuer a few years back...the Orchard brand...bought out by Cap1?

Believe you are correct and they wanted to get out of the sub-prime market if I remember right and sold to Cap1. Their new cards I believe serves the prime market and obviously more strict UW standards I would suspect as a result of getting away from the sub-prime game

Re: HSBC Mastercards--Anyonne With Recent Experience?

wasCB14 — Mon, 07 Aug 2017 02:21:10 GMT

@Anonymous wrote:
@Credit-hoarder wrote:
I was thumbing through the credit card section of a different finance page last nigh and saw the HSBC Platinum Mastercard. I didn't realize they still issued cards--I thought that was gone when CO took over. Anyone have one of their recent cards that can shed some info on it like what bureau do they pull? How are they with SLs and CLIs? and so forth.....?
,Looks like they still have a selection of cards for US customers, But don't know the answers to your questions...

https://www.us.hsbc.com/1/2/home/personal-banking/credit-cards

What is interesting is the
Premier World Mastercard

In the details it says:

Our Rewards for Miles program allows you to transfer your Points to participating airline frequent flyer programs.
I hadn't heard that HSBC also had a transfer program

The Premier WMC is reserved for Premier checking clients.*

$100k minimum combined balances to get a $50 monthy fee waived for Premier checking.

If you close your Premier checking but keep the CC, there's a $95 AF for the CC starting in the second year.

*At least that's what the website says, but some "highly exclusive" cards can have a habit of actually being open to people with more modest balances.

Re: HSBC Mastercards--Anyonne With Recent Experience?

Credit-hoarder — Mon, 07 Aug 2017 02:35:18 GMT

Yeah--I pass by one of their branches on the way to work every day and didn't realize they're still in the credit card game. Back in the mid-late 2000's when I burned Cap One and my credit was back in the toilet for the SECOND time--I use to get theirs and Orchards pre-selected invites. According to the site in which I saw the card on, their Platinum tier card requires good to excellent credit. If only I knew which bureau they pulled I might offer myself as the experimental ginea pig...I'm trying to stay off my EQ for a while and don't want a pull with them until my score (673) gets a little better, but I'm great with TU and EX at the moment.

Re: HSBC Mastercards--Anyonne With Recent Experience?

Anonymous — Mon, 07 Aug 2017 03:27:59 GMT

One month ago I got HSBC Platinum Mastercard® with Rewards. This card does not require any existing relationship with the bank.

Applied online, did not get instant decision. They pulled EQ. They used some other scoring model than FICO 8 (current scores are in my sig), and my score was 20 points less than it.

2 days later got email saying my application was approved. Called customer care to know the SL. They gave me SL of 9750!! Not great, but knowing they are conservative, it is really a good SL! I have few inquiries and accounts in the last 6 months. But from the past 12 months I have tons of inquiries and accounts!!

The apr I got was 17.99%. I heard that we can call them after a year to reduce it to lowest tier. There is a request for CLI button, but it looks like HP. I will try CLI after 6 months!

Re: HSBC Mastercards--Anyonne With Recent Experience?

Credit-hoarder — Mon, 07 Aug 2017 04:08:45 GMT

@Anonymous wrote:
One month ago I got HSBC Platinum Mastercard® with Rewards. This card does not require any existing relationship with the bank.
Applied online, did not get instant decision. They pulled EQ. They used some other scoring model than FICO 8 (current scores are in my sig), and my score was 20 points less than it.
2 days later got email saying my application was approved. Called customer care to know the SL. They gave me SL of 9750!! Not great, but knowing they are conservative, it is really a good SL! I have few inquiries and accounts in the last 6 months. But from the past 12 months I have tons of inquiries and accounts!!
The apr I got was 17.99%. I heard that we can call them after a year to reduce it to lowest tier. There is a request for CLI button, but it looks like HP. I will try CLI after 6 months!

Thanks for the heads up Maestro07. Well it looks like I won't be app-ing just yet b/c EQ is the one I'm trying not to HP until my score goes up some more (673).

Re: HSBC Mastercards--Anyonne With Recent Experience?

Anonymous — Mon, 07 Aug 2017 04:44:51 GMT

@wasCB14 wrote:
@Anonymous wrote:
@Credit-hoarder wrote:
I was thumbing through the credit card section of a different finance page last nigh and saw the HSBC Platinum Mastercard. I didn't realize they still issued cards--I thought that was gone when CO took over. Anyone have one of their recent cards that can shed some info on it like what bureau do they pull? How are they with SLs and CLIs? and so forth.....?
,Looks like they still have a selection of cards for US customers, But don't know the answers to your questions...

https://www.us.hsbc.com/1/2/home/personal-banking/credit-cards

What is interesting is the
Premier World Mastercard

In the details it says:

Our Rewards for Miles program allows you to transfer your Points to participating airline frequent flyer programs.
I hadn't heard that HSBC also had a transfer program
The Premier WMC is reserved for Premier checking clients.*

$100k minimum combined balances to get a $50 monthy fee waived for Premier checking.

If you close your Premier checking but keep the CC, there's a $95 AF for the CC starting in the second year.

*At least that's what the website says, but some "highly exclusive" cards can have a habit of actually being open to people with more modest balances.

I found from from FT, the points are exchangeble 1:1 with three airlines:

Asia Miles (Cathay Pacific)
British Airways
Singapore Airlines

Re: HSBC Mastercards--Anyonne With Recent Experience?

B335is — Mon, 07 Aug 2017 06:51:41 GMT

I actually applied for the rewards MasterCard last week but was denied. In the email it said "unable to verify your identity. No credit report was pulled" I suspect because my EQ file is inaccessible due to some unknown reason (I'm working through it with EQ).

Re: HSBC Mastercards--Anyonne With Recent Experience?

Anonymous — Mon, 07 Aug 2017 09:57:22 GMT

@B335is wrote:
I actually applied for the rewards MasterCard last week but was denied. In the email it said "unable to verify your identity. No credit report was pulled" I suspect because my EQ file is inaccessible due to some unknown reason (I'm working through it with EQ).

Best wishes as you are working with the most progressive, forward thinking credit bureau ... oh yeah, I lied Good luck, I just got through trying to communicate with them and as always ... it has been a life experience!

Re: HSBC Mastercards--Anyonne With Recent Experience?

Anonymous — Mon, 07 Aug 2017 10:01:29 GMT

HSBC used to be my go to bank. They always liked me and my well below average profile. Had a HSBC Co-Branded American Express Card with a $10K Limit and 7.9% Fixed Apr along with an HSBC Platinum Cash Rewards MC with 13.9% variable Apr. Alas, along came the white Knight Capital One and I closed my relationship down before Cap1 took over. Since then I can not find anything exciting about their card offerings. Why are they back when they jettisoned us a long time back say 2009.

Re: HSBC Mastercards--Anyonne With Recent Experience?

Anonymous — Tue, 31 Oct 2017 22:17:36 GMT

I was going to apply for the HSBC plat card I liked the 18 month balace transfer but they pull equifax and equifax has wrecked my score the past month....I have accounts not even showing up on equifax it cost me 50 points! the other two are just fine. I'm waiting for the class action lawsuit to start and i hope it runs equifax out of business! they have damaged a lot of people.