topic Re: HSBC Cards in Credit Cards

HSBC Cards

lanah — Wed, 30 Sep 2009 13:44:21 GMT

This includes all of there cards including orchard!

For people who have their cards are they raising your interest rate to 19.99% starting december 22? I got the notice for both of my cards and I called because my rate is currently 11.99%. They said that there is nothing they can do about it and that they are raising it to ALL of their cards and that ALL future offers will be 19.99%

I find this hard to believe? Since I hate being lied to I want to see if any of you guys are getting the same increase.

Re: HSBC Cards

DI — Wed, 30 Sep 2009 13:51:23 GMT

My new GM HSBC card is 20.99. That's a sure bet to have no rolling balance.

Re: HSBC Cards

rom828 — Wed, 30 Sep 2009 14:40:23 GMT

@lanah wrote:
This includes all of there cards including orchard!

For people who have their cards are they raising your interest rate to 19.99% starting december 22? I got the notice for both of my cards and I called because my rate is currently 11.99%. They said that there is nothing they can do about it and that they are raising it to ALL of their cards and that ALL future offers will be 19.99%

I find this hard to believe? Since I hate being lied to I want to see if any of you guys are getting the same increase.

All Orchard cardholders are getting these notices...There's another thread on this from last week or so.

I have 2 Orchards. The oldest 1999 MC is going from 18.9 to 19.99% (w/ $59 AF) and my 2005 Visa (no AF) is going from 14.99% to 19.99%.

I have perfect record with Orchard--not a single late payment, so I guess that's why mine is "only"going up to 19%. On the other thread some Orchard cardholders advised increases well into the 20s%.

Re: HSBC Cards

dallasjetfan — Wed, 30 Sep 2009 18:20:04 GMT

They raised mine and also wouldn't budge on the annual fee so I paid off today and closed it!! I love closing accounts when they talk about all the benefits. The benefits are for the banks not the consumer. Bye HSBC!!

Re: HSBC Cards

Anonymous — Wed, 30 Sep 2009 18:53:03 GMT

The front line CSR's cannot waive AF's. You have to ask for a retention specialist and work it out with them. It is possible to make it happen - the AF on my Direct Merchants Bank MC has been permanently waived.

Re: HSBC Cards

dallasjetfan — Fri, 02 Oct 2009 20:48:28 GMT

@Anonymous wrote:
The front line CSR's cannot waive AF's. You have to ask for a retention specialist and work it out with them. It is possible to make it happen - the AF on my Direct Merchants Bank MC has been permanently waived.

There cards are worth a crap so no worries! I won't do business with this company again!!

Re: HSBC Cards

Anonymous — Sat, 03 Oct 2009 00:22:50 GMT

When the card is one of your oldest open TL's like mine is (about ten years) you do what you have to to make the best of it!

Re: HSBC Cards

dallasjetfan — Sat, 03 Oct 2009 00:52:00 GMT

@Anonymous wrote:
When the card is one of your oldest open TL's like mine is (about ten years) you do what you have to to make the best of it!

True! It wasn't and I don't think I would even care. I'm only going to have 2 cards and live off cash from now on. I'm done trying to manage a card that provides me no benefit other than for credit score purposes. I only need a credit score for a mortgage, but I will have over 50% down so my score won't matter much.

Re: HSBC Cards

lanah — Thu, 08 Oct 2009 16:01:35 GMT

Your credit scores must be really good. I currently have a 716 on Eq. but I closed one joint account on T. and it lowered my credit score to 625. So I now i have a hundred point difference just because I closed an account.

The government should do something about credit scores being affected by closing an account. Credit companies know that it hurts your account so they don't car e if you close it or not.

Re: HSBC Cards

Anonymous — Thu, 08 Oct 2009 16:05:57 GMT

We have an HSBC master card that is at 11.24% and just got notice that it is going up to 14.99% in November.

Re: HSBC Cards

Anonymous — Thu, 08 Oct 2009 16:08:27 GMT

@lanah wrote:
Your credit scores must be really good. I currently have a 716 on Eq. but I closed one joint account on T. and it lowered my credit score to 625. So I now i have a hundred point difference just because I closed an account.

The government should do something about credit scores being affected by closing an account. Credit companies know that it hurts your account so they don't car e if you close it or not.

Do you revolve balances? What is your UTIL %?

Re: HSBC Cards

Anonymous — Thu, 08 Oct 2009 16:12:13 GMT

@lanah wrote:
Your credit scores must be really good. I currently have a 716 on Eq. but I closed one joint account on T. and it lowered my credit score to 625. So I now i have a hundred point difference just because I closed an account.

Hi lanah,

Wow - Sorry about that huge score drop! That would send me to Baskin Robbins for a double scoop cone.

Can you confirm if both those scores are Ficos? And could you share how much your utilization changed when you closed this account? Thanks for any info you can give us on that one!

Re: HSBC Cards

plasticguy — Thu, 08 Oct 2009 17:54:10 GMT

HSBC Cash Fly was 14.99 going to 20.99 in Dec account 4 yrs old

HSBC (Direct Merchants formerly) 14.99 - 17.99 in Dec account 10 years old

However, GM CARD ISSUED BY HSBC going from 6.74V to 6.99V in Dec Explain that?? Account 9 years old

No Balance on any above mentioned cards Total Utilization elsewhere 2%

Re: HSBC Cards

Anonymous — Thu, 08 Oct 2009 18:01:55 GMT

@plasticguy wrote:
HSBC Cash Fly was 14.99 going to 20.99 in Dec account 4 yrs old

HSBC (Direct Merchants formerly) 14.99 - 17.99 in Dec account 10 years old

However, GM CARD ISSUED BY HSBC going from 6.74V to 6.99V in Dec Explain that?? Account 9 years old

No Balance on any above mentioned cards Total Utilization elsewhere 2%

HSBC has a partner on this card who they have to keep happy. Otherwise they might just pick up shop an move to another issuer.

Re: HSBC Cards

Anonymous — Thu, 08 Oct 2009 18:50:28 GMT

Anybody know if it is worth keeping my [almost one year old] OB Card alive, or if closing it with a small balance will still allow them to charge me another anual fee?