HSBC Recon?

[Anonymous]

I app'd for the HSBC/Costco card. Declined! Efax (according to MyFico) was 710 at the time (rep disagreed but still had to be close), zero baddies, 34 year old history, 8 year average.  Util was high (30%) but given the score, the fact I have a perfect HSBC card too, and an HSBC Checking account, decline seems a little strong.

Does anyone have a # and/or a good strategy for recon?

[Creditaddict]

I thought the HSBC backed Costco card was only for business.

what made you to decide to apply for that vs the amex version?

Our costco here didn't even know there was an HSBC backed costco card since with the agreement with amex they are not suppose to promote it 

[Anonymous]

It was a biz card. I was going to app for newly reinstated corp but did not have PayDex yet and didn't want to mess with it, nor did I want new cards on my Personal. So I got an EIN for a SP and app'd through that with PG (sounds like a song doesn't it?).

Anyway, I called, they said 'too many new accounts' and said I'd opened 8 in 6 months. Not true.  8 in one year (since last Feb so two dropping off) but also not sure how they were able to count the Amex's since those were dated 1986.  In any event i pointed out positives and she said 'we cant extend to you with the new cards and in this environment'.

So looks like I better pay down my util and cards. I think if I go from 35% to 1% and from 9 of 12 to 1 of 12 with balances I can get scores high enough (750+) to hopefully get past that.

[Creditaddict]

oh... I applied for this card with NO PG. got $10,000

[Anonymous]

That's my next move. I'll have PayDex on this in a few weeks, and the corp was formed in 2000.  I'll even have a high-credit line vendor reporting. Hoping for $10k as well.

BTW I found out that the # of new accounts was inflated because my HSBC card, which they lost when they first sent to me and I lost last summer, is reported as three separate accounts (the open one and the two lost ones even though the same account).  So I get dinged 3 times on one account as new card and young age.