topic Re: RIP Target and HSBC Discover in Credit Cards

RIP Target and HSBC Discover

llecs — Wed, 16 Feb 2011 00:12:58 GMT

Born 12/2007 and 12/2008, respectively. Died February 15, 2011.

*Chokes back tears*

They led a good life now they are shredder fodder.

With 18 active TLs, and with a $200 CL on the Target and a $300 CL on the HSBC Discover, there wasn't much room for growth or advancement. They had to go. The HSBC Discover has a $59 annual fee and I paid it 2 too many times. I cancelled the Target because the $200 annoyed me. Or rather you guys' success annoyed me everytime you posted a CLI (though...congrats!).

I called HSBC Discover first. I asked the frontline CSR for a CLI. He said "no way" and then got transferred to the retention department. I again asked for a CLI and he said that there are no manual CLIs on any HSBC product. He then warned me that I would loose the points (I had 3,500, but I really don't care one bit) and that I would have to reapply at this point if I wanted the card again (he gave me the URL, No Thanks!!!).

Target came next. I got a frontline CSR and he said they don't initiate CLIs (we all knew that) and then transferred me to the retention department. That CSR tried to sweet talk me in telling me I would lose out on 5% savings (woohoo!...: / ) and that I shoul duse the card over and over and PIF each time to get that 5%. She told be the same with the CLI bit but then recalled a success story or two of CLIs after asking for CLIs despite the CSR saying "No". I almost balked, but held firm. She then offered a 10% coupon on my next purchase but I said "Nope". It was cancelled.

These were my two lowest CLs. My two newest TLs are $5,000 and $25,000 and $500 in combined lost CLs won't make much of an impact. Time to reorganize my short list. Thinking CapOne might be next.

Re: RIP Target and HSBC Discover

Anonymous — Wed, 16 Feb 2011 00:15:21 GMT

No fair! You didnt post any cremation pics this time :-(

Re: RIP Target and HSBC Discover

Red1Blue — Wed, 16 Feb 2011 00:25:01 GMT

So you finally got tired of the $200 Target Card !!!!.

Re: RIP Target and HSBC Discover

llecs — Wed, 16 Feb 2011 00:27:50 GMT

No. We just moved and I didn't want melted plastic on my new stove.

Re: RIP Target and HSBC Discover

llecs — Wed, 16 Feb 2011 00:29:26 GMT

@Red1Blue wrote:
So you finally got tired of the $200 Target Card !!!!.

It felt good to kill it off too! No more quarterly disappointments after reading everyone's CLI success stories!

Re: RIP Target and HSBC Discover

Anonymous — Wed, 16 Feb 2011 00:58:58 GMT

I like the 5% discount at target

Re: RIP Target and HSBC Discover

mross1080 — Wed, 16 Feb 2011 03:07:29 GMT

Congrats! I called to cancel my HSBC Discover a couple of months ago and they waived my annual fee so its staying for one more year.

Re: RIP Target and HSBC Discover

DI — Wed, 16 Feb 2011 03:10:12 GMT

I got rid of my HSBC card a while back. That bank is a joke!! My Target Visa is 11 years old, so I'll be with them forever.

Re: RIP Target and HSBC Discover

Anonymous — Wed, 16 Feb 2011 15:10:46 GMT

My Capital One is my oldest account at 9, and my Target is second oldest at 7.5, so I guess that I'll be hanging onto them for basically ever...or until they charge me an annual fee. Or perhaps until I hit 850. llecs, I'm surprised your Target didn't graduate - they surprised me after a relatively short period of time by upgrading me from my $200 Target card to a $1k Target Visa.

Re: RIP Target and HSBC Discover

llecs — Wed, 16 Feb 2011 18:30:46 GMT

@Anonymous wrote:
llecs, I'm surprised your Target didn't graduate - they surprised me after a relatively short period of time by upgrading me from my $200 Target card to a $1k Target Visa.

I tried everything. I carried a large balance. I carried no balance. I used it monthly and PIF over and over. I shelved it for months at a time. Never late. Always on time. Never OTL. I tried every scenario possible to no avail. DW on the other hand got a CLI to $500 after her first month. She maxed hers out on the first purchase and was declined. She removed some items and the following month she got a CLI. : /

I didn't need to close it since there was no AF, but I got tired of juggling so many accounts. It was funny, during the mortgage process in Dec/Jan, the lender saw our 35+ combined total active TLs and gasped. "Why?!" ...I tooked it to be a rhetorical question and smiled.

Re: RIP Target and HSBC Discover

MBOhio2 — Wed, 16 Feb 2011 19:04:42 GMT

That has to be a good feeling! I cannot wait to close my silly WFNNB Harlem Furniture credit card as soon as it's paid off. They lowered the CL from $2500 to $100 a year back and I've been dying to get rid of it since then!!

Re: RIP Target and HSBC Discover

haulingthescoreup — Thu, 17 Feb 2011 15:43:32 GMT

@llecs wrote:
@Anonymous wrote:
llecs, I'm surprised your Target didn't graduate - they surprised me after a relatively short period of time by upgrading me from my $200 Target card to a $1k Target Visa.
I tried everything. I carried a large balance. I carried no balance. I used it monthly and PIF over and over. I shelved it for months at a time. Never late. Always on time. Never OTL. I tried every scenario possible to no avail. DW on the other hand got a CLI to $500 after her first month. She maxed hers out on the first purchase and was declined. She removed some items and the following month she got a CLI. : /

I didn't need to close it since there was no AF, but I got tired of juggling so many accounts. It was funny, during the mortgage process in Dec/Jan, the lender saw our 35+ combined total active TLs and gasped. "Why?!" ...I tooked it to be a rhetorical question and smiled.

btw, and OT of course, this is a useful nugget on the topic of whether lenders will make you close "excess" CC's during the mortgage process. I assume that you came through with all 35+ intact? (until you axed them on your own, of course)

Meanwhile, it's very gracious of you to free up your enormous CL's on these two cards for future users.

Re: RIP Target and HSBC Discover

llecs — Fri, 18 Feb 2011 17:55:34 GMT

@haulingthescoreup wrote:

@llecs wrote:
@Anonymous wrote:
llecs, I'm surprised your Target didn't graduate - they surprised me after a relatively short period of time by upgrading me from my $200 Target card to a $1k Target Visa.
I tried everything. I carried a large balance. I carried no balance. I used it monthly and PIF over and over. I shelved it for months at a time. Never late. Always on time. Never OTL. I tried every scenario possible to no avail. DW on the other hand got a CLI to $500 after her first month. She maxed hers out on the first purchase and was declined. She removed some items and the following month she got a CLI. : /

I didn't need to close it since there was no AF, but I got tired of juggling so many accounts. It was funny, during the mortgage process in Dec/Jan, the lender saw our 35+ combined total active TLs and gasped. "Why?!" ...I tooked it to be a rhetorical question and smiled.

btw, and OT of course, this is a useful nugget on the topic of whether lenders will make you close "excess" CC's during the mortgage process. I assume that you came through with all 35+ intact? (until you axed them on your own, of course)

Meanwhile, it's very gracious of you to free up your enormous CL's on these two cards for future users.

The lender didn't care or at least didn't say anything (other than LO's gasp). They were particular as to whether or not they had $0 balances, though. At App-time, two-thirds were still open and active, but were zeroed out.

Hey, I'm just doing my part to help out the economy. Rest assured that Target and HSBC will resume manual CLIs once again.

Re: RIP Target and HSBC Discover

demi — Fri, 18 Feb 2011 18:31:06 GMT

Still trying to figure out how I went from $5000 credit limit on my Target to $500 when I paid it off. They ~~couldn't~~ wouldn't explain. Its been two years now, have at times carried 400 or so balance. Since there is no fee, I like to charge about $10 and pay it off...just to bug them.

Re: RIP Target and HSBC Discover

DI — Fri, 18 Feb 2011 18:43:05 GMT

@demi wrote:
Still trying to figure out how I went from $5000 credit limit on my Target to $500 when I paid it off. They ~~couldn't~~ wouldn't explain. Its been two years now, have at times carried 400 or so balance. Since there is no fee, I like to charge about $10 and pay it off...just to bug them.

Target dropped me from $1500 to $1000. Then, I later called and had them to decrease it to $500. It's my oldest card. I ask for a CL restoration but they're not doing manual CLI. I doubt if I ever get a CLI. I haven't used the card at a Target store in years.

Re: RIP Target and HSBC Discover

llecs — Sun, 27 Mar 2011 02:57:15 GMT

BUMP....Update:

OK, so I get a statement from HSBC Discover this weekend. Even though the $59 AF was charged in December, and even though I closed it two months later in mid-February, the statement they just sent over shows a statement credit of negative $59. I guess they refunded the AF even though I closed it a couple of months later. Cool deal.....FYI for those who are thinking about closing AF CCs, but procrastinated a month or two too late. Off to rummage through my piles of unopened mail to see if there's a $59 check in there somewhere.

Re: RIP Target and HSBC Discover

creditguy-378 — Sun, 27 Mar 2011 04:12:53 GMT

that great unfortuantly I have to keep my hsbc sig. card it was my first card and when I got it they backdated me from when I was an au on my moms goes back to 97 even though I don't have to pay an af anymore I don't think i'll be getting a cli again it was 6200 then went down to 3800 when the depression hit what can u do at least i don't pay an af anymore

Re: RIP Target and HSBC Discover

vish1 — Sun, 27 Mar 2011 04:25:14 GMT

Re: RIP Target and HSBC Discover

vish1 — Sun, 27 Mar 2011 04:27:35 GMT

@creditguy-378 wrote:
that great unfortuantly I have to keep my hsbc sig. card it was my first card and when I got it they backdated me from when I was an au on my moms goes back to 97 even though I don't have to pay an af anymore I don't think i'll be getting a cli again it was 6200 then went down to 3800 when the depression hit what can u do at least i don't pay an af anymore

HSBC backdating? I have only heard of amex backdating. I have not heard of HSBC visa signature either. Am I missing something?

Re: RIP Target and HSBC Discover

creditguy-378 — Sun, 27 Mar 2011 04:44:03 GMT

i only got the card because my family banks there if u go to the us website us.hsbc.com they call it a "world mc card" it's means the same as "signature" just means they don't report your limit to the cra's