topic Re: Capital One / HSBC no longer doing credit limit increases? in Credit Cards

Capital One / HSBC no longer doing credit limit increases?

zullyquirke — Fri, 21 Dec 2012 15:52:17 GMT

I just put in for a credit limit increase on an HSBC card, now a Capital One card since the acquisition, and I got this message back:

We are writing to you in response to your inquiry regarding your Account
ending in xxxx issued by Capital One Bank (USA), N.A. or Capital One, N.A.

We apologize for any inconvenience regarding your credit limit increase
request. At this time, Capital One has made a business decision to not grant
credit limit increases. You are welcome to check back with us periodically for
the availability of credit limit increase requests in the near future.

You are important to us and we appreciate your business.

Are they really not doing any CL increases? That seems really bizarre to me.

Re: Capital One / HSBC no longer doing credit limit increases?

Shogun — Fri, 21 Dec 2012 15:55:38 GMT

Standard reply. They've been using that one for awhile.

Re: Capital One / HSBC no longer doing credit limit increases?

zullyquirke — Fri, 21 Dec 2012 16:02:34 GMT

Is it worth a call, or are they really not issuing any increases then?

Re: Capital One / HSBC no longer doing credit limit increases?

Chadsnana — Fri, 21 Dec 2012 17:50:56 GMT

No, it is not worth a call. Hubby has excellent credit and asked for an increase on a $500 card that he has. Cap1 turned him down so he cancelled the card. In case you are wondering, he only wanted a $500 card in the beginning because he uses it for business expenses and did not want to put those expenses on his personal cards. Hubby was looking for another $500 increase. He had the card for over ten years. Capital One would not grant an increase or waive the annual fee.

Re: Capital One / HSBC no longer doing credit limit increases?

Anonymous — Fri, 21 Dec 2012 18:05:59 GMT

I also have a former Orchard Bank card and once Cap 1 took over, the credit increases stopped. I called them and asked if they were still doing increases and the rep lied and said yes. I told her it has been the longest period since I received an increase and I don't think it is going to happen. She said I could always App for a Capital One card if I wanted. So I decided to app and got approved for a Cash Rewards card with a $2000 limit. The former Orchard Bank card has been at $1100 CL since last summer. I don't think it will ever go up again. I did get an email a few days ago from Capital One for former HSBC card holders saying that a Cap1 will be sent in the mail early next year to replace my Orchard Bank card. I wonder which one, anyone have an ideas on what type of Cap1 card will be sent out to Orchard Bank customers?

After we close on our mortgage in Feb, I plan to app for either a Chase Sapphire or AMEX card. Until then, I am making do with these tiny limits. I really want to take the family on a worry free vacation and I can't do it with the stupid cards I have now. I just use them for everyday purchases.

Re: Capital One / HSBC no longer doing credit limit increases?

zullyquirke — Fri, 21 Dec 2012 18:30:43 GMT

What a bummer. Mine's an Orchard card too; not sure what they're replacing them with. I opened mine a year and a half ago as an intro credit rebuilder card. I'm in a gardening period for now, but once I get out I'll have access to better cards. I'm already a tier up from where I started when I apped this one. If they really aren't ever going to increase my CL I may just close the thing once I start getting better cards.

Re: Capital One / HSBC no longer doing credit limit increases?

Anonymous — Fri, 21 Dec 2012 18:39:06 GMT

I am thinking of closing my line too after getting better cards. The APR is enormous as well as the annual fee. I opened the Orchard Bank card in 2008 as a rebuilder with a $300 limit. Got up to $1100 limit in July 2011. CL hasn't moved since. It helped me rebuild and I guess that is the only good thing. It would be nice if along with sending the new Cap1 card, they send a CLI along with it. Not putting any money on that!

Re: Capital One / HSBC no longer doing credit limit increases?

yvaldez29 — Fri, 21 Dec 2012 19:14:03 GMT

Hey guys,

im pretty new to this forum but while reading your comments ill tell you abt my experience with CAP1. i had recently called becasue i have 2 accounts with them, one which is over 7 yrs old.

Visa Plat. 500 CL Since acnt opne date in 05

Mastercard Plat. rewards started off with 500 CL increased ater 6mo to 750 Acnt opend in 2011

i had called their main line and dealt with the CSR which told me she will review my accnt and let me know if qualify. After a little while (which i suspected) came back and told me i did not qualify for a CLI at the time and i will be receiving a letter. Went ahead and called corporate and the same thing happened with the CSR which told me at the moment i do not qualify for a CLI. Well, then i decided to write directly to their corporate email expressing my frustration this morning. to my surprise they called me a few hrs later apologizing and asked me a few questions. they asked what would be a reasonable CLi on both of my accnts. i gave them my honest answer and they verified income and employment status.

the CSR told me she will go ahead and review the accnt and get back with me in a few days. so right now I'm currently waiting with my fingers crossed. thought i share my experience with you guys since i've spent the past couple of days stalking the heck out of this forum. Je Je!

Currently waiting on a response so wish me luck.

Re: Capital One / HSBC no longer doing credit limit increases?

Anonymous — Fri, 21 Dec 2012 19:22:12 GMT

Please let us know how it goes. Man! 7 years and no increases. That really shows what Cap1 is about. Sucks!

From what I've read, emailing corporate is the only glimmer of hope for most people.

Re: Capital One / HSBC no longer doing credit limit increases?

yvaldez29 — Fri, 21 Dec 2012 19:41:40 GMT

For sure @Movingfoward ill let you know how it goes. The wait is going to kill me. :/

Re: Capital One / HSBC no longer doing credit limit increases?

Anonymous — Fri, 21 Dec 2012 19:41:55 GMT

What planet have you been living on? It has been that way for over a year LOL

Re: Capital One / HSBC no longer doing credit limit increases?

LisaJ — Fri, 21 Dec 2012 19:50:05 GMT

I am not sure how much changed when they took over Orchard, but my Best Buy just got a $1500 CLI last night, so as a company Cap One is certainly granting some CLI requests.

Orchard was SO stingy with CLI, even when I hit 700!

Re: Capital One / HSBC no longer doing credit limit increases?

Anonymous — Sat, 22 Dec 2012 00:10:28 GMT

Gentlemen: Careful what you wish for. HSBC is in the process of diversifying it's credit card services .Are you familiar with the term "Merchant card". These are store cards issued through various financial institutions such as HSBC, CITI, CHASE AND OTHERS. When you apply for a store card, you sign the agreement without knowledge of the issuers terms. On the surface, credit cards are fantastic. Now look at the back of the credit card and see who issued it. That is your real creditor and your signature to an application for Home De[pot, Walmart, Lowes, Sears (only touching on examples) is actually governed by the terms of that agreement. You may also find the majority of these financial institutions are homed in South Dakota, who has one of the most industry oriented consumer protection law in the country, and it is those laws you are agreeing to abide by, not the Consumer Protection Law of the remaining states.

Re: Capital One / HSBC no longer doing credit limit increases?

Anonymous — Sat, 22 Dec 2012 00:29:55 GMT

Lisa, my dear. Orchard Bank Credit cards and Best Buy credit cards are both issued by HSBC and have been for some time. The difference in the CL as you put it is only because that is the agreement HSBC has with Best Buy and Orchard Bank is designed for high risk debtors. High risk being, persons with no credit history or low credit scores or low income. You didn't change credit cards only credit terms. The financial industry defines the "high risk" debtor in many different, Two is too is to, all pronounced the same but different meanings.

Re: Capital One / HSBC no longer doing credit limit increases?

Revelate — Sat, 22 Dec 2012 00:35:03 GMT

@Anonymous wrote:
Lisa, my dear. Orchard Bank Credit cards and Best Buy credit cards are both issued by HSBC and have been for some time. The difference in the CL as you put it is only because that is the agreement HSBC has with Best Buy and Orchard Bank is designed for high risk debtors. High risk being, persons with no credit history or low credit scores or low income. You didn't change credit cards only credit terms. The financial industry defines the "high risk" debtor in many different, Two is too is to, all pronounced the same but different meanings.

Actually HSBC sold most of it's US-based credit card portfolio to Capital One; both Orchard and Best Buy were included in that.

Edit (2): this was announced 8/11 apparently and finalized 5/12. Didn't realize it was that early

Re: Capital One / HSBC no longer doing credit limit increases?

p- — Sat, 22 Dec 2012 00:40:19 GMT

I recently got an increase from Capital One's exec team from 3500 to 10k with a soft pull... They are definitely still doing them. When I told her I still had an orchard card with an annual fee, she gave my number to the Orchard (Capital One) executive team.

That rep called right away, and was able to removed my annual fee forever on my Orchard card. She told me they couldn't do product changes or credit increases until the transfer over to capital one was complete. Until then they were not doing any CLI's at all. She suggested I wait about 6 months then try to get my card PC'd to another Capital One Product.

Re: Capital One / HSBC no longer doing credit limit increases?

yvaldez29 — Sat, 22 Dec 2012 00:47:43 GMT

That is great! They are going to notify me no later than next weekbased on what i requested ( i asked to be bumped to 5000). They did confirm it would be a SP.

Re: Capital One / HSBC no longer doing credit limit increases?

yvaldez29 — Wed, 26 Dec 2012 23:03:01 GMT

So, I logged in to my capital one accounts today, to my surprise I got bumped to 2500 on one and 2000 on the other. Not what I originally requested(5000) but who's complaining. Im happy with tht.

Thanks guys!

Re: Capital One / HSBC no longer doing credit limit increases?

Anonymous — Thu, 27 Dec 2012 03:23:36 GMT

Thank you revelate, that is my point exactly. While persons sign anagreement for a store card, they don't look into the fine print on the back of the agreement. Many of these "STORE CARDS" fail to relate the terms of the issuer agreement. Such as demanding binding arbitration in lieu of court action and denial of jury intervention rather than legal actions provided by the consumer protection laws of each persons individual state. Many Law Firms are purchasing delinquent accounts and claiming to represent the issuer even though the LAW FIRM is still a debt collector governed by the Fair Debt Collection Practices Act (FDCPA). In other words, even though an individual thinks he is increasing his (her) CLI they may only be changing the terms of the agreement by going from HSBC to Capitol One. Upon signing any credit card agreement you are also agreeing to the terms of the issuer which is not printed on the application . Additionally, First Niagra Bank of Buffalo N.Y., has purchased New England branches of HSBC,

Re: Capital One / HSBC no longer doing credit limit increases?

Kozmo — Thu, 27 Dec 2012 04:44:34 GMT

I know for my Helzberg account I asked for a bump from $2000 to $2800...they came back with $3600. Was a soft pull as well. The backdoor # was awesome. Thats with a 660 FICO too