topic Re: HSBC Accts Close by 2/24 in Credit Cards

HSBC Accts Close by 2/24

mxp114 — Sat, 04 Feb 2012 15:26:21 GMT

Just spoke with a senior manager who said that by 2/24, all HSBC account that are to be converted will be closed by then and new cards mailed. Also confirmed that acct numbers will change however the original acct opening date will be reported by CapitalOne as a new tradeline. I don't know, seems awfully soon for such a massive change.

Re: HSBC Accts Close by 2/24

CS800 — Sat, 04 Feb 2012 15:28:42 GMT

I'm so screwed now I can kiss any CLI goodbye. Never got a CLI with cap one. My bbrzmc will have an honorable burial soon

Re: HSBC Accts Close by 2/24

mxp114 — Sat, 04 Feb 2012 15:31:49 GMT

lol I'm really hoping my HSBC Platinum MC stays with HSBC. He told me it is not flagged for conversion but that it could still transfer over.

Re: HSBC Accts Close by 2/24

Ron1 — Sat, 04 Feb 2012 15:33:58 GMT

I haven't gotten any notice from HSBC for closing either my BB RZMC or Cash Back Platinum MC. I just checked it and I didn't seen any change on either of my accounts.

Ron.

Re: HSBC Accts Close by 2/24

pizzadude — Sat, 04 Feb 2012 15:35:42 GMT

It will be very interesting to see what happens with these cards once the smoke has cleared.......I'm sure that it will create a lot of reporting anomalies...

Re: HSBC Accts Close by 2/24

mxp114 — Sat, 04 Feb 2012 15:38:37 GMT

I wonder if the RZMC portfolio will convert and if so, will the agreement transfer over for CapOne and BB or will CapOne convert the cards into another rewards. So many questions, and agree about CR issues. I just hope they don't report brand new opening dates >_<

Re: HSBC Accts Close by 2/24

Open123 — Sat, 04 Feb 2012 16:07:51 GMT

Because of this change, I closed my BBRZ last week.

I've been through some of these changes, and had to deal with a clerical error. I'm just going to err on the side of caution moving forward, and never deal with this changeover stuff again.

Re: HSBC Accts Close by 2/24

smc733 — Sat, 04 Feb 2012 16:17:18 GMT

Does anyone know if the Best Buy store card will be staying? They're launching new promotions about it with bonus points and all, and they stopped taking applications for the RZMC, but not the store card. I know BB and HSBC are pretty tight in their relationship, and I heard HSBC is keeping HSBC branded cards, so I wonder if this includes private label cards.

Re: HSBC Accts Close by 2/24

corymcd88 — Sat, 04 Feb 2012 16:50:56 GMT

@mxp114 wrote:
Just spoke with a senior manager who said that by 2/24, all HSBC account that are to be converted will be closed by then and new cards mailed. Also confirmed that acct numbers will change however the original acct opening date will be reported by CapitalOne as a new tradeline. I don't know, seems awfully soon for such a massive change.

I was told late June 2012 and no date was set. What cards are going over?

Re: HSBC Accts Close by 2/24

CS800 — Sat, 04 Feb 2012 16:53:46 GMT

My BBRZC will be closed by June then

Re: HSBC Accts Close by 2/24

mxp114 — Sat, 04 Feb 2012 16:54:28 GMT

2/24 is close by date for all account that are flagged for the move. HSBC Premier and select HSBC branded cards will remain, all others will move is what I was told.

Re: HSBC Accts Close by 2/24

stefanc — Sat, 04 Feb 2012 17:02:28 GMT

I got my "new" HSBC card a few days ago. Completely new number - tried punching it into a BIN database and no actual bank name showed up as the issuer. The card they sent is the same design as my old HSBC plat -- the words "Cash Back" have dissapeared (upper left by "Platinum") and it no longer says "The world's local bank" by the HSBC logo. The expiration date has been upped two more years in the future. The customer service number has also changed. Other than that - same card.

I punched the new number into my online access and everything is there including my Cash Back summary - I was able to make a payment online.

When I spoke to the rep before the card came She said that the "old" card ccloses on Feb 24 - and that the card will transfer to Cap 1 on April 2nd. All that was confirmed with a letter that came with the card. I asked her about my Orchard card (nothing has changed yet online for that one). She said it will be changing as well, but nothing in in the system yet.

Re: HSBC Accts Close by 2/24

mxp114 — Sat, 04 Feb 2012 17:19:05 GMT

I wonder instead if your card was reissued for the "new" HSBC, an account that won't move to Cap1. It just seems unusual for HSBC to reissue a brand new acct number and plastic that is basically an HSBC branded card, only to have CapitalOne repeat this process in two months. I think HSBC CashBack, HSBC Premier and HSBC Platinum are staying with HSBC.

Re: HSBC Accts Close by 2/24

LS2982 — Sat, 04 Feb 2012 17:27:06 GMT

Anyone know about Best Buy store card or Household Bank yet?

Re: HSBC Accts Close by 2/24

stefanc — Sat, 04 Feb 2012 17:39:43 GMT

@mxp114 wrote:
I wonder instead if your card was reissued for the "new" HSBC, an account that won't move to Cap1. It just seems unusual for HSBC to reissue a brand new acct number and plastic that is basically an HSBC branded card, only to have CapitalOne repeat this process in two months. I think HSBC CashBack, HSBC Premier and HSBC Platinum are staying with HSBC.

That was a theory that I came up with when this all started to happen - as I am sure the Orchard card is moving to Cap 1 - and nothing had changed online with that one. Of course it is entirely conjecture from reading online etc. but it seems that the cards that are staying with HSBC are all the Premier cards and Plat's that are issued to people that have an HSBC bank account...???

The letter that came with the new card does say that the card (It is an HSBC Plat - no AF - Cash Back) will be sold to Cap 1. The letter affirms the sale as April 2 2012 - It states there are no changes to APR, rewards etc. (but does not specifically say if that will change after April 2), It says a Cap 1 branded card will be issued "sometime after the sale is complete. Your account number will not change at that time."

The only mention of Credit reporting is:

"There will be no changes to your credit bureau report as a result of your account number change. Once Capitol One assumes ownership, they will begin reporting to the credit bureau that your Account is now owned by them."

The letter also says:

"In preparation for the sale of your Account to Capitol One, it was necessary to assign a new account number. A new credit card is needed to ensure you have continued access to your account once the sale occurs."

and

"In preparation for the sale of your Account to Capitol One, it was necessary to assign a new account number that can be transferred to Capitol One in the future."

Re: HSBC Accts Close by 2/24

corymcd88 — Sat, 04 Feb 2012 18:09:25 GMT

@LS2982 wrote:
Anyone know about Best Buy store card or Household Bank yet?

I just spoke to HSBC Credit depo and they said yes.

Re: HSBC Accts Close by 2/24

corymcd88 — Sat, 04 Feb 2012 18:11:26 GMT

@stefanc wrote:
@mxp114 wrote:
I wonder instead if your card was reissued for the "new" HSBC, an account that won't move to Cap1. It just seems unusual for HSBC to reissue a brand new acct number and plastic that is basically an HSBC branded card, only to have CapitalOne repeat this process in two months. I think HSBC CashBack, HSBC Premier and HSBC Platinum are staying with HSBC.
That was a theory that I came up with when this all started to happen - as I am sure the Orchard card is moving to Cap 1 - and nothing had changed online with that one. Of course it is entirely conjecture from reading online etc. but it seems that the cards that are staying with HSBC are all the Premier cards and Plat's that are issued to people that have an HSBC bank account...???

The letter that came with the new card does say that the card (It is an HSBC Plat - no AF - Cash Back) will be sold to Cap 1. The letter affirms the sale as April 2 2012 - It states there are no changes to APR, rewards etc. (but does not specifically say if that will change after April 2), It says a Cap 1 branded card will be issued "sometime after the sale is complete. Your account number will not change at that time."

The only mention of Credit reporting is:

"There will be no changes to your credit bureau report as a result of your account number change. Once Capitol One assumes ownership, they will begin reporting to the credit bureau that your Account is now owned by them."

The letter also says:

"In preparation for the sale of your Account to Capitol One, it was necessary to assign a new account number. A new credit card is needed to ensure you have continued access to your account once the sale occurs."

and

"In preparation for the sale of your Account to Capitol One, it was necessary to assign a new account number that can be transferred to Capitol One in the future."

I just spoke to HSBC Credit depo and they said they don't have a time frame nor a date.

Re: HSBC Accts Close by 2/24

LS2982 — Sat, 04 Feb 2012 18:16:37 GMT

@corymcd88 wrote:
@LS2982 wrote:
Anyone know about Best Buy store card or Household Bank yet?
I just spoke to HSBC Credit depo and they said yes.

Yes to what??? They are keeping these or sold to Cap1?

Re: HSBC Accts Close by 2/24

stefanc — Sat, 04 Feb 2012 18:22:17 GMT

@LS2982 wrote:
@corymcd88 wrote:
@LS2982 wrote:
Anyone know about Best Buy store card or Household Bank yet?
I just spoke to HSBC Credit depo and they said yes.
Yes to what??? They are keeping these or sold to Cap1?

Wondering this as well - yes to???

Also your response before -- they don't have a t ime frame or date for????

Re: HSBC Accts Close by 2/24

Anonymous — Sat, 04 Feb 2012 18:25:59 GMT