topic Re: Has Discover Direct Rewards (HSBC) been effective? in Credit Cards

Has Discover Direct Rewards (HSBC) been effective?

NICKI183 — Mon, 17 Mar 2008 17:52:21 GMT

I was recently approved for this card, after not being approved for the REAL Discover card. Has anyone had any luck with decreased APR, increased CL or even assistance with obtaining a REAL discover card. Please share your views.

Re: Has Discover Direct Rewards (HSBC) been effective?

Anonymous — Mon, 17 Mar 2008 23:12:23 GMT

I apped for a real discover but was countered with the DR discover with a $300 CL. I received a pre-approval for the same card about 8 weeks after. I apped and was again approved for another $300 CL. Both of these have an $59 AF and 14.9% APR.

I called after 4 months to have both cards combined. No go. I also requested a AU be added. No go. I have yet to charge a dime on them. I will probably try to get the AF waived near the year mark. If not they are history.

I have always had a good experience with HSBC but this card makes me want a real discover.

Re: Has Discover Direct Rewards (HSBC) been effective?

NICKI183 — Tue, 18 Mar 2008 00:05:26 GMT

Slipind wrote:
I apped for a real discover but was countered with the DR discover with a $300 CL. I received a pre-approval for the same card about 8 weeks after. I apped and was again approved for another $300 CL. Both of these have an $59 AF and 14.9% APR.

I called after 4 months to have both cards combined. No go. I also requested a AU be added. No go. I have yet to charge a dime on them. I will probably try to get the AF waived near the year mark. If not they are history.

I have always had a good experience with HSBC but this card makes me want a real discover.

Well isnt that something. Today, I received a pe-approval from what I thought was Discover Card. I said WOW! They actually reconsidered me for a real one. Go figure! I go the process of applying and then BAM its not until after I hit the "submit application" did a realize it was the Direct Discover AGAIN....Wow, can't get away from this card.

I was not going to apply for anything else until Dec. Guess I should have stuck with that....LOL

Re: Has Discover Direct Rewards (HSBC) been effective?

Red1Blue — Tue, 18 Mar 2008 00:22:30 GMT

I got HSBC Discover card as counter offer for regular card. I received the card with NO AF and $750 CL. In 3 months they have me auto CLI of $250 and now it is at $1000. It is not a bad card. Except for low CL I am not sure what is that we can get with the real card that we dont get with HSBC Card. Again from what I heard from others real Discover is not giving that large CL's either. Some of them are getting $2000-$3000. My sugggestion, once you get the card, use it and have fun with it. Time will pass by so quick and in no time, you'll have the regular card.

Re: Has Discover Direct Rewards (HSBC) been effective?

NICKI183 — Tue, 18 Mar 2008 00:24:56 GMT

concorduser wrote:
I got HSBC Discover card as counter offer for regular card. I received the card with NO AF and $750 CL. In 3 months they have me auto CLI of $250 and now it is at $1000. It is not a bad card. Except for low CL I am not sure what is that we can get with the real card that we dont get with HSBC Card. Again from what I heard from others real Discover is not giving that large CL's either. Some of them are getting $2000-$3000. My sugggestion, once you get the card, use it and have fun with it. Time will pass by so quick and in no time, you'll have the regular card.

Thanks concorduser for taking the time to read this post and good advice. I guess I should be greatful for what I received some people were just DECLINED w/o options.

thanks

Re: Has Discover Direct Rewards (HSBC) been effective?

Anonymous — Tue, 18 Mar 2008 00:39:11 GMT

A card is as effective as the user is responsible. Maybe you will not get everything you want from THAT card, but responsible use of it can lead to other opportunities. I had a Discover for years, but included the account in bankruptcy. The fact of the matter is, if you want a Discover card you need to have very good credit! For those of us who are rebuilding and are able to get a subprime card, our use of it can put us on our way to other cards like Discover.

I love my Discover Network card from Merchant Bank (HSBC). I had gotten a preapproval and apped and got it. I was shocked because at the time, I only had a $300.00 credit Orchard and a bad recently credit history.

I got the one from HSBC first, then decided to press my luck and applied for a Discover. At the time, having been out of the credit card game for a while, I did not realize that they are two completely different cards. Discover, of course, sent me back to HSBC. I got another 300.00 card. HSBC combined the two lines. I know some people got a CLI after 3-6 months. I will see what happens.

I have no annual fee. The interest rate is 14% or so, but I do not care. I am trying to rebuild, so it is not like I am going to have any high balances so that the interest is going to hurt my pockets. I will use this card to see how far it takes me, but like I said, I know it is all up to me to use it well and see what rewards come my way. If in a year or two, no other rewards come my way through this particular card, well... I would have rebuilt my credit history enough to perhaps qualify for a "real Discover."

Message Edited by RecoveringMyLife on 03-17-2008 05:36 PM

Message Edited by RecoveringMyLife on 03-17-2008 05:39 PM

Re: Has Discover Direct Rewards (HSBC) been effective?

haulingthescoreup — Tue, 18 Mar 2008 00:30:21 GMT

@NICKI183 wrote:
I was recently approved for this card, after not being approved for the REAL Discover card. Has anyone had any luck with. . . .assistance with obtaining a REAL discover card. . . . .

I have to say that I have NEVER heard of anyone getting an "in" with the real Discover after having this particular card. As I understand it, this is just a business deal that Discover and HSBC have that lets Disc make a couple bucks by selling the accounts that didn't quite make it to HSBC.

I think the best way to look at this card, and similar cards, is to view it as another great opportunity to improve your history and overall credit picture, thus eventually looking good enough to snag the real thing (if you still want it.) But in terms of getting an edge with Discover, I don't it's any different from any other bank card. No special entree, but a perfectly good rebuilding card.

Re: Has Discover Direct Rewards (HSBC) been effective?

NICKI183 — Tue, 18 Mar 2008 00:53:50 GMT

@haulingthescoreup wrote:
@NICKI183 wrote:
I was recently approved for this card, after not being approved for the REAL Discover card. Has anyone had any luck with. . . .assistance with obtaining a REAL discover card. . . . .

I have to say that I have NEVER heard of anyone getting an "in" with the real Discover after having this particular card. As I understand it, this is just a business deal that Discover and HSBC have that lets Disc make a couple bucks by selling the accounts that didn't quite make it to HSBC.

I think the best way to look at this card, and similar cards, is to view it as another great opportunity to improve your history and overall credit picture, thus eventually looking good enough to snag the real thing (if you still want it.) But in terms of getting an edge with Discover, I don't it's any different from any other bank card. No special entree, but a perfectly good rebuilding card.

Haulings, I truly understand the concept of rebulider card. I am glad that HSBC issued me this card and I use it in Sam's Club for my purchases. When I began to obtain credit in 1990 it was simplier with there being on 5-10 card distributors and whatever was on the card that most like was the financial banker.

However, after the BK -02 I had a low point and now by joining the forum I have begun the process of restructoring my credit with some new and some old card friends. Today, its hard to tell who is the financial backer of your cards.

Examples:

1. Discover is offered by HSBC and discover

2. American Express by AMEX and other financial person maybe Citibank or Chase unsure

3.Retail cards are being bought out by others and who you started with may not be the time during the lifetime of your cards. The biggiest ones are WFFNB, HSBC, GEMB, GE Bank (maybe the same as GEMB), CHASE. Its a mononoply. You can guess if you didn't get a VS you won't get Abecrombie & Finch, Arepostle, Spiegel, etc.

I find myself reading the forum sometimes and being overwhelmed with information as if I am going through DATAOVERLOAD.

My credit diaster didn't occur overnight and I know it will take time to get back into the high 600's or 700's, but it will be worth it in the end.

Thanks as always for your advice.

Re: Has Discover Direct Rewards (HSBC) been effective?

haulingthescoreup — Tue, 18 Mar 2008 01:08:00 GMT

MasterCard and Visa aren't issued by MasterCard Bank and Visa Bank (don't know if they ever were) --they're just a type of credit card that's processed in a certain way, and merchants sign agreements saying how they must handle charges with them.

Discover and AmEx are ooching into this. They are not just the banks that issue them and maintain them (Discover Bank and Centurion Bank); they are now also a credit card type, just like Visa and MC, and the merchants that take them also must sign agreements stating how they will handle their charges.

So you can try to think of the HSBC Discover and BofA AmEx (and Sam's Club Discover and USAA AmEx and all the others) as card types, just as there is a Citi Visa and a Chase Visa and a BofA Visa and a Friendly Neighborhood Credit Union Visa. The only difference among the cards is that of the banks that issue them and support them, as in take your payments. It's hard to view Discover and AmEx this way, because the card types have been so closely identified with the issuing banks for so many years.

And you're right, after a while you just need to go take a little nap! I think I was about 4 weeks into the forums when my brain just turned completely to goo, and nothing made any sense whatsoever. Hang in there, it will get better.

Re: Has Discover Direct Rewards (HSBC) been effective?

Anonymous — Tue, 18 Mar 2008 06:08:39 GMT

HTSU- I am amazed how well the goo has re-formed-

Great post BTW-

haulingthescoreup wrote:
MasterCard and Visa aren't issued by MasterCard Bank and Visa Bank (don't know if they ever were) --they're just a type of credit card that's processed in a certain way, and merchants sign agreements saying how they must handle charges with them.

Discover and AmEx are ooching into this. They are not just the banks that issue them and maintain them (Discover Bank and Centurion Bank); they are now also a credit card type, just like Visa and MC, and the merchants that take them also must sign agreements stating how they will handle their charges.

So you can try to think of the HSBC Discover and BofA AmEx (and Sam's Club Discover and USAA AmEx and all the others) as card types, just as there is a Citi Visa and a Chase Visa and a BofA Visa and a Friendly Neighborhood Credit Union Visa. The only difference among the cards is that of the banks that issue them and support them, as in take your payments. It's hard to view Discover and AmEx this way, because the card types have been so closely identified with the issuing banks for so many years.

And you're right, after a while you just need to go take a little nap! I think I was about 4 weeks into the forums when my brain just turned completely to goo, and nothing made any sense whatsoever. Hang in there, it will get better.

Re: Has Discover Direct Rewards (HSBC) been effective?

Anonymous — Wed, 19 Mar 2008 13:00:35 GMT

NICKI183 wrote: I was recently approved for this card, after not being approved for the REAL Discover card. Has anyone had any luck with decreased APR, increased CL or even assistance with obtaining a REAL discover card. Please share your views.

They decreased my APR but only by a few minor percentage points (something is better than nothing, right--it is between 12% or 13%). They also hooked me up with an APR of about 3% on new purchases for 6 months. But they havent given me a CLI yet and when I contact them about it, I get the same ole line. It is still stuck at 1400 dollars.

Message Edited by landocalrissian on 03-18-2008 08:11 AM

Message Edited by landocalrissian on 03-18-2008 10:42 AM

Message Edited by landocalrissian on 03-19-2008 06:00 AM

Re: Has Discover Direct Rewards (HSBC) been effective?

Anonymous — Tue, 18 Mar 2008 16:30:17 GMT

Concorduser, When exactly did you receive your card and how has your usage been? You are one of very few people who I have seen get CLI from them. What did you do that rest of us (who have this card) aren' t doing?

Re: Has Discover Direct Rewards (HSBC) been effective?

Red1Blue — Tue, 18 Mar 2008 16:50:34 GMT

I am not sure if I did any thing different. I got my card some time in Oct / Nov 2007. I have been charging between $100-$200 every week and did a payment in full every week through my billpay.

At the 3rd statement I got Auto CLI of $250.00 I am waiting to see if I would another CLI at 6 month statement.

By the way, on the side note, I also have OfficeMax Biz card issued by HSBC. I got the card with initial CL of $500 about 3 months ago. Last night I asked for CLI from $500 to $1500. I got email this morning my new CL is $2300.

Re: Has Discover Direct Rewards (HSBC) been effective?

Anonymous — Tue, 18 Mar 2008 17:46:02 GMT

I received my card a couple of months before you received yours. WOW!. My usage has not been as high as yours. I use the card to buy airline tickets (big purchases). I just made a 300 dollar payment on my balance today. Usage must equal CLI with them. Moreso probably than with Cap1.

Re: Has Discover Direct Rewards (HSBC) been effective?

Red1Blue — Tue, 18 Mar 2008 17:48:36 GMT

I am not sure if there is any set guide lines for CLI. At 6 month mark, if I dont get auto cli, I am going to call them ask for manual review and CLI. I am pretty sure they would give it. I want to have at least $2000 CL on every card. Since this card does not have any AF for me, it is worth keeping it for a while.

Re: Has Discover Direct Rewards (HSBC) been effective?

Anonymous — Tue, 18 Mar 2008 17:52:11 GMT

What number did or do you call for a manual review because I am sick of hearing that they dont do them. I got the same BS response from them when I sent a secure message to them online.

Re: Has Discover Direct Rewards (HSBC) been effective?

Red1Blue — Tue, 18 Mar 2008 20:00:00 GMT

landocalrissian wrote:
What number did or do you call for a manual review because I am sick of hearing that they dont do them. I got the same BS response from them when I sent a secure message to them online.

So far I what I got is Auto CLI. I have not called them yet for Manual review. I was going to call them at the end of 6 months. You can always threaten them by saying, I want to close the account. They might send you to customer retention group where you might get CLI. If all fails I guess wait it out and see what happens.

Re: Has Discover Direct Rewards (HSBC) been effective?

Anonymous — Wed, 19 Mar 2008 04:12:25 GMT

I have a Direct Merchants Discover that I received just over 2 years ago. It was issued with a 1100 credit line, then in 6 months received an auto CLI to 2300. About a year later, I received another auto CLI to 3400 and just three months later received another auto CLI to 4400. The most I have ever had on this card at one time is somewhere in the neighborhood of $800. I usually do not pay in full. My APR is 11.99 percent and no AF. Its not a bad card, but Discover is not accepted everywhere.

Kate

Re: Has Discover Direct Rewards (HSBC) been effective?

Anonymous — Wed, 19 Mar 2008 17:27:07 GMT

I applied for a Discover online but they declined me, and offered the Direct Rewards. I closed the webpage. They then sent me an e-mail, asking for me to call them for verification. I called, they verified, and declined me again, and tried to push the Direct Rewards. I declined again. This morning, I got another e-mail. I called again, and asked if they would please stop bouncing me e-mails. They offered AGAIN the Direct Rewards with the 2.9% intro for 6 months, 19.99% thereafter. $59 APR, but a cl of $300, which would be my lowest cl on my cards. She said she would send me the card, and if I did not use the card I would have 90 days to choose whether or not to keep it. Of course, if I decide not to keep it I have no obligation to the af.

I'm torn about this. I have 2 cards with Citi (no af), 1 with Chase (no af) and one with C-1 ($39 af that I waive). I've never done any banking or business of any sort with HSBC. I'm indecisive on whether or not the af is worth keeping for a card that I would probably only charge my movie rentals to.

I was also wondering if the rewards are decent?

Re: Has Discover Direct Rewards (HSBC) been effective?

Anonymous — Thu, 20 Mar 2008 14:54:51 GMT

When they offered me the card, HSBC gave me a Direct Rewards card with no annual fee. Hmmmm. And the limit was 1400 dollars. How do they determine who gets the annual fee and who doesnt???