Close HSBC Discover???

[Anonymous]

I opened this account in July. It has a $300 CL with a $59 AF. I now have a real discover card and so will never use this card again.

I tried to call yesterday and close it and told them it was due to no CLI. The lady said in a year they will review and see if I can get a CLI (NOT GOOD ENOUGH). For some reason my phone disconnected at that point.

There are several reasons I want to close:

1. The Credit line is piddly.

2. I have a real discover now.

3. I am interested in getting the Weekend Mastercard from HSBC at one point but can't because I have 2 HSBC cards.

However, I haven't had the card long. Should I charge a pack of gum to it every 2 months and see if they waive the annual fee and give me a CLI? And then close it at the year mark?

[elsijfdl]

a $59 annual fee is steep, especially when it's 20% of the credit line!

[haulingthescoreup]

I'd keep it open until June (or whenever 10 1/2 months before the next AF is due) and re-evaluate then. I agree, it's probably not a keeper over the long run, but you might as well let it report good history for you for a while. When rebuilding your credit, this is one of the reasons to have a number of new cards --you accumulate lots of months of clean reporting to dilute any baddies.

(And I'm not necessarily advocating getting lots of cards in early rebuilding, but this is the reason behind the tactic.)

[Anonymous]

Ok lol, I will suck it up.

It just looks stupid to have $600 a month going through on a $300 card and then it reports the balance as $150, when it is PIF every month and sits at $0. I thought I had the timing down but obviously not! :-(

I will let them get a whole $5 a month. Same with Orchard bank and Hooters and then see where everything stands in a year. Or the month before the AF's are due to hit on each card.

[Anonymous]

i just call hsbc discover to close the card due to af and 300 cl a had the card for 1 yaer. well they did not cli but remove my af and offer me a 3.9 % apr.

[Anonymous]

Does HSBC do product changes? Could you just convert to the card you want?

[Anonymous]

I had my card since Jan and everytime time I call about a CLI I get the same response.....We reveiw your account every 2 r 3 Months and if u get a CLI we will notify u via email r it will show up on your next statement. I'm closing it at the end of Nov. Also my card came with a $19 AF.