topic Just got approved for a HSBC platinum mastercard in Credit Cards

Just got approved for a HSBC platinum mastercard

Anonymous — Wed, 16 Jul 2008 04:37:04 GMT

My first "real" major credit card. it has a 14.95% APR and a 59 AF, not too shappy I think. Anyways, anyone want to give me their experiences with HSBC, I know they can be stingy with CLI's. Anyone know any tricks?

I doubt I should even ask for a CLI upon activation.

Re: Just got approved for a HSBC platinum mastercard

Anonymous — Wed, 16 Jul 2008 04:41:16 GMT

Well, one thing I've noticed is you can either ask for the AF to be waived (sometimes they will cut it in half) or for a CLI on activation. I told them I didn't want to activate it because the CL was not worth the fee, and they countered with that.

And yes, very stingy with CLIs.

Congrats on the shiny new card!

Re: Just got approved for a HSBC platinum mastercard

Anonymous — Wed, 16 Jul 2008 04:44:52 GMT

So I should call and say something like, Well I wanted to activate my card, but more I think about it the Credit Limit isn't really worth the fee??

I am 2 months into credit (just turned 18), just recovered from identity theft, (on my own) thanks to this board. Here is my story

Original:
http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&message.id=8361&query.id=171524#M8361

Updated:
http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&thread.id=16555

Re: Just got approved for a HSBC platinum mastercard

Anonymous — Wed, 16 Jul 2008 05:44:22 GMT

I got that card about 10 months ago, I decided I was not going to pay any more AF for a lousy $300 CL. I was kind of offended but then again, its all reflective of how deep in the toilet my scores, CR was. I called them and told them I wanted to close the account prior to activation. When asked why, I cited the fact that I already have 3 CC that are charging me AF and I am not going to pay for any more CC. At that point the CSR offered to give me a CLI from $300 to $500. He also offered to cut the AF in half for the first year and waive it completely after that. Im coming up on my year so we will see what happens. Oh and BTW, they are stingy with CLI. I have only got $100 since I have had this card. I use it monthly and **bleep** near PIF.

Re: Just got approved for a HSBC platinum mastercard

Anonymous — Wed, 16 Jul 2008 07:40:29 GMT

Wow, that is good. But yeah I have heard they are very stingy. But hey beggars cant be choosers lol. Umm I may try that.

Do you think me saying "I have other cards with higher limits and no AF, I cant see paying for this one" would work?

Re: Just got approved for a HSBC platinum mastercard

TangMeister — Wed, 16 Jul 2008 08:30:54 GMT

You're 18 and this is your first "real" credit card, as you put it. I think perhaps you should have PATIENCE, GRASSHOPPER! Use the card for a year, pay the annual fee, establish your credit history and raise your FICO scores. Then next year, when the annual fee comes around again, you'll have some bargaining power.

As it is, if I were in your position, I'd be very happy they approved me for a card, ya know? HSBC isn't too bad, and personally I think, a heck of a lot better on their terms than Capital One. Yes, the CLIs aren't the biggest (usually around $200 or so), but they'll give them to you regularly if you're a good customer, and offer you additional perks...such as another card with better rates and no annual fee...down the road.

Congratulations on the card, and enjoy it. You're on your way.

@Anonymous wrote:
Wow, that is good. But yeah I have heard they are very stingy. But hey beggars cant be choosers lol. Umm I may try that.

Do you think me saying "I have other cards with higher limits and no AF, I cant see paying for this one" would work?

Message Edited by TangMeister on 07-16-2008 01:30 AM

Re: Just got approved for a HSBC platinum mastercard

smallfry — Wed, 16 Jul 2008 10:13:56 GMT

Its a builder card. Use it to improve your credit standing and after a while you can move on. Don't pay late.

Re: Just got approved for a HSBC platinum mastercard

Anonymous — Wed, 16 Jul 2008 16:09:39 GMT

He sure is picky about his credit cards for an 18-year-old. Congrats bro, you're off to a good start!

Re: Just got approved for a HSBC platinum mastercard

Anonymous — Wed, 16 Jul 2008 19:33:32 GMT

what can I say? I have been around you guys for two months, I have become obsessed with my FICO score lol. I have been obsessed with making my new report spotless!!!