topic Re: HSBC Offer in Credit Cards

HSBC Offer

Anonymous — Sat, 08 Dec 2007 22:03:26 GMT

Anyone receive this offer in the mail from HSBC?:

7.99% life of the balance and/or 3.99% through your billing cycle ending in May, 2008? 3% bt fee. $5 min/$75 max.

I hate to not use this card, but the APR is 15.49% for access checks, balance transfers and purchases! I do have 1,195 in reward points that will pay $25.00 when I reach 25,000 pts automatically.

I was thinking a small 3.99% balance transfer would probably help me to keep offers coming my way. Moderators what do you think?

SandyK

Message Edited by sankofa on 12-08-2007 02:03 PM

Re: HSBC Offer

Anonymous — Sat, 08 Dec 2007 22:02:03 GMT

sankofa wrote:

Anyone receive this offer in the mail from HSBC?:

7.99% life of the balance 0R 3.99% through your billing cycle ending in May, 2008? 3% bt fee. $5 min/$75 max.

I hate to not use this card, but the APR is 15.49% for access checks, balance transfers and purchases! I do have 1,195 in reward points that will pay $25.00 when I reach 25,000 pts automatically.

I was thinking a small 3.99% balance transfer would probably help me to keep offers coming my way. Moderators what do you think?

SandyK

Okay you ae getting the equivalent of a 1% cash back with this card. Even though the best way to judge your rewards is by paying in full and cashing in, another method, if you ARE going to carry a balance, is to deduct the 1% from the interest rate. That makes this card come in at about 14.49. Not too bad depending on your profile.

Re: HSBC Offer

Anonymous — Sat, 08 Dec 2007 22:10:17 GMT

Thanks Brammy. I have kept the card because they gave me an unbelievable CL of $15K the first time I applied for the card in 2005. Hubby and I had a good income and not a lot of debt at that time. I was afraid to close the card or not use it for fear HSBC would cancel it.

I wish I had the courage to charge 60% of my credit line to this card at 3.99% because that would eliminate 2 cards. I don't go over 50% and my highest card right now is at 40% utilization. I know, 0% offers are meant to be used to the fullest.

Sandyk

Re: HSBC Offer

Anonymous — Sat, 08 Dec 2007 22:18:16 GMT

If you do just rememebr to keep total uti in line and don't add to the debt on the cards BT'd from....lol!!

Re: HSBC Offer

Anonymous — Sat, 08 Dec 2007 22:27:02 GMT

Brammy wrote:
If you do just rememebr to keep total uti in line and don't add to the debt on the cards BT'd from....lol!!

This was OUR downfall the reason we got in so much

debt! We have learned a costly lesson!

The information on this forum is excellent!! It's the discipline that's hard to

follow in this household here.

SandyK

Re: HSBC Offer

Anonymous — Sat, 08 Dec 2007 22:35:27 GMT

Stick the 0 bal cards in the shredder, write down the info and only use them on a rotating basis for Friday pizza night. When you get the balance paid down. Tell them to send new cards.....lol!!! Trust me, that or freeze them in a block of ice in a ziploc bag. Cards don't respond well to microwave defrosting.

Re: HSBC Offer

Anonymous — Sat, 08 Dec 2007 22:44:18 GMT

Brammy,

Sounds like a plan to me!!!

Thanks for all your advice.

SandyK

Re: HSBC Offer

Anonymous — Sat, 08 Dec 2007 22:56:51 GMT

sankofa wrote:

Brammy,

Sounds like a plan to me!!!

Thanks for all your advice.

SandyK

LOL!! Ask me how I know about hte micro...lol! Not that I would ever TRY that! Only a bowl of hot water.