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HSBC Mastercards--Anyonne With Recent Experience?

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Credit-hoarder
Valued Contributor

HSBC Mastercards--Anyonne With Recent Experience?

I was thumbing through the credit card section of a different finance page last nigh and saw the HSBC Platinum Mastercard. I didn't realize they still issued cards--I thought that was gone when CO took over. Anyone have one of their recent cards that can shed some info on it like what bureau do they pull? How are they with SLs and CLIs? and so forth.....?

BUSINESS
Rewards Pts.-Miles: UR-MR-TYP-Venture
Message 1 of 13
12 REPLIES 12
longtimelurker
Epic Contributor

Re: HSBC Mastercards--Anyonne With Recent Experience?


@Credit-hoarder wrote:

I was thumbing through the credit card section of a different finance page last nigh and saw the HSBC Platinum Mastercard. I didn't realize they still issued cards--I thought that was gone when CO took over. Anyone have one of their recent cards that can shed some info on it like what bureau do they pull? How are they with SLs and CLIs? and so forth.....?


,Looks like they still have a selection of cards for US customers,  But don't know the answers to your questions...

 

 

https://www.us.hsbc.com/1/2/home/personal-banking/credit-cards

 

What is interesting is the 

Premier World Mastercard

 

 

In the details it says:

 

  • Our Rewards for Miles program allows you to transfer your Points to participating airline frequent flyer programs.

I hadn't heard that HSBC also had a transfer program

Message 2 of 13
wasCB14
Super Contributor

Re: HSBC Mastercards--Anyonne With Recent Experience?

How fee-ridden was Orchard within the world of subprime?

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select
Message 3 of 13
CreditCuriosity
Moderator Emeritus

Re: HSBC Mastercards--Anyonne With Recent Experience?


@wasCB14 wrote:

Wasn't HSBC a big US subprime card issuer a few years back...the Orchard brand...bought out by Cap1?


Believe you are correct and they wanted to get out of the sub-prime market if I remember right and sold to Cap1.  Their new cards I believe serves the prime market and obviously more strict UW standards I would suspect as a result of getting away from the sub-prime game

Message 4 of 13
wasCB14
Super Contributor

Re: HSBC Mastercards--Anyonne With Recent Experience?


@longtimelurker wrote:

@Credit-hoarder wrote:

I was thumbing through the credit card section of a different finance page last nigh and saw the HSBC Platinum Mastercard. I didn't realize they still issued cards--I thought that was gone when CO took over. Anyone have one of their recent cards that can shed some info on it like what bureau do they pull? How are they with SLs and CLIs? and so forth.....?


,Looks like they still have a selection of cards for US customers,  But don't know the answers to your questions...

 

 

https://www.us.hsbc.com/1/2/home/personal-banking/credit-cards

 

What is interesting is the 

Premier World Mastercard

 

 

In the details it says:

 

  • Our Rewards for Miles program allows you to transfer your Points to participating airline frequent flyer programs.

I hadn't heard that HSBC also had a transfer program


The Premier WMC is reserved for Premier checking clients.*

 

$100k minimum combined balances to get a $50 monthy fee waived for Premier checking.

 

If you close your Premier checking but keep the CC, there's a $95 AF for the CC starting in the second year.

 

*At least that's what the website says, but some "highly exclusive" cards can have a habit of actually being open to people with more modest balances.

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select
Message 5 of 13
Credit-hoarder
Valued Contributor

Re: HSBC Mastercards--Anyonne With Recent Experience?

Yeah--I pass by one of their branches on the way to work every day and didn't realize they're still in the credit card game. Back in the mid-late 2000's when I burned Cap One and my credit was back in the toilet for the SECOND time--I use to get theirs and Orchards pre-selected invites. According to the site in which I saw the card on, their Platinum tier card requires good to excellent credit. If only I knew which bureau they pulled I might offer myself as the experimental ginea pig...I'm trying to stay off my EQ for a while and don't want a pull with them until my score (673) gets a little better, but I'm great with TU and EX at the moment.

BUSINESS
Rewards Pts.-Miles: UR-MR-TYP-Venture
Message 6 of 13
Anonymous
Not applicable

Re: HSBC Mastercards--Anyonne With Recent Experience?

One month ago I got HSBC Platinum Mastercard® with Rewards. This card does not require any existing relationship with the bank.

Applied online, did not get instant decision. They pulled EQ. They used some other scoring model than FICO 8 (current scores are in my sig), and my score was 20 points less than it.

2 days later got email saying my application was approved. Called customer care to know the SL. They gave me SL of 9750!! Not great, but knowing they are conservative, it is really a good SL! I have few inquiries and accounts in the last 6 months. But from the past 12 months I have tons of inquiries and accounts!! 

The apr I got was 17.99%. I heard that we can call them after a year to reduce it to lowest tier. There is a request for CLI button, but it looks like HP. I will try CLI after 6 months!

 

Message 7 of 13
Credit-hoarder
Valued Contributor

Re: HSBC Mastercards--Anyonne With Recent Experience?


@Anonymous wrote:

One month ago I got HSBC Platinum Mastercard® with Rewards. This card does not require any existing relationship with the bank.

Applied online, did not get instant decision. They pulled EQ. They used some other scoring model than FICO 8 (current scores are in my sig), and my score was 20 points less than it.

2 days later got email saying my application was approved. Called customer care to know the SL. They gave me SL of 9750!! Not great, but knowing they are conservative, it is really a good SL! I have few inquiries and accounts in the last 6 months. But from the past 12 months I have tons of inquiries and accounts!! 

The apr I got was 17.99%. I heard that we can call them after a year to reduce it to lowest tier. There is a request for CLI button, but it looks like HP. I will try CLI after 6 months!

 


Thanks for the heads up Maestro07. Well it looks like I won't be app-ing just yet b/c EQ is the one I'm trying not to HP until my score goes up some more (673).

BUSINESS
Rewards Pts.-Miles: UR-MR-TYP-Venture
Message 8 of 13
longtimelurker
Epic Contributor

Re: HSBC Mastercards--Anyonne With Recent Experience?


@wasCB14 wrote:

@longtimelurker wrote:

@Credit-hoarder wrote:

I was thumbing through the credit card section of a different finance page last nigh and saw the HSBC Platinum Mastercard. I didn't realize they still issued cards--I thought that was gone when CO took over. Anyone have one of their recent cards that can shed some info on it like what bureau do they pull? How are they with SLs and CLIs? and so forth.....?


,Looks like they still have a selection of cards for US customers,  But don't know the answers to your questions...

 

 

https://www.us.hsbc.com/1/2/home/personal-banking/credit-cards

 

What is interesting is the 

Premier World Mastercard

 

 

In the details it says:

 

  • Our Rewards for Miles program allows you to transfer your Points to participating airline frequent flyer programs.

I hadn't heard that HSBC also had a transfer program


The Premier WMC is reserved for Premier checking clients.*

 

$100k minimum combined balances to get a $50 monthy fee waived for Premier checking.

 

If you close your Premier checking but keep the CC, there's a $95 AF for the CC starting in the second year.

 

*At least that's what the website says, but some "highly exclusive" cards can have a habit of actually being open to people with more modest balances.


I found from  from FT, the points are exchangeble 1:1 with three airlines:

 

  • Asia Miles (Cathay Pacific)
  • British Airways
  • Singapore Airlines
Message 9 of 13
B335is
Moderator Emeritus

Re: HSBC Mastercards--Anyonne With Recent Experience?

I actually applied for the rewards MasterCard last week but was denied. In the email it said "unable to verify your identity. No credit report was pulled" I suspect because my EQ file is inaccessible due to some unknown reason (I'm working through it with EQ).
Message 10 of 13
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