HSBC Compusa Card

[score_building]

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@Anonymous wrote:

Oh yeah! I totally forgot about that. I can just imagine the credit analyst on the other side of the phone, rolling his or her eyes, and thinking, "When will they ever learn?" 

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@score_building wrote:

don't try this from your home phone or any other number they have for you, otherwise they can easily id you.

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i figured out the hard way not long ago when i called amex from work with an 'anonomous' general question and then literally seconds later, i received an email thanking me for my inquiry!  ewww

[Anonymous]

Not sure how HSBC works it, but if you want to keep an active tradeline you may be abel to call them, explain the situation and have your credit line switched to another type of card.  Then again last time I had an HSBC card of any sort it was more trouble than it was worth.

[Anonymous]

Thank you all for the great info.

I just got of the phone with a HSBC underwriter (thanks to the back door number from this forum).  He was very knowledgeable and told me how its gonna go.

He said there is no way for them to "re-brand" merge or change products (like making it a Best Buy card).  The terms are completely different for each card making it impossible to simply change the plastic.  I would need to app for a new account if I wanted a BB card or such.

As far as "inactivity", He said HSBC's computers WILL close my account eventually (between 6-12 months) due to inactivity.  I'm at around 11 months right now without any activity on the card.

So its basically a choice between "Closed by Credit Grantor"   or   "Closed by Consumer".  Today its my choice.

If I wait ... It's their choice, and they've already said what it will be.

Does anyone have any thoughts before I close this card?  Is it still a good idea to keep it open?

My Credit mix is:

1 compusa card    (on the chopping block)

1 circuit city card

1 Amex green

1 Citi card

1 auto installment loan   (closes in march)

[SCF]

I think at this point it's whatever you feel most comfortable with, as others have said, the "Closed by grantor" notation does not affect your score and will be easily explained during a manual review.

Maybe take this as a chance to try for a CLI or reduce your util so that losing the card won't affect your util and then go ahead and close the card if you'd like to have it listed as closed by you.

It's too bad about the product change, but at least you've researched all your options.

[Anonymous]

I just closed it via thier "automated system".  Geez they sure make it easy.  "press 2 to close yor account". 

I wonder how many others have had to close store cards because the store went BK.  I'm sure its going to be a trend in these times.