I was recently told by Capital One that my old Orchard Bank credit card was bought back by HSBC. Sure enough I pulled my credit report and it shows HSBC as the current owner. It was charged-off years ago and I've been working with Capital One to have negative information removed. Does anyone have any additional information on HSBC buying back U.S. issued cards? I'd appreciate any response and phone numbers to contact HSBC.
It's a damn black hole. Capital One agreed to remove the item from CR. In the interim, it went back to HSBC. It's reporting on one bureau and I can't do anything about it. Not even the HSBC EO would help.
haha. Capital One was easy to work with because they wanted to rid themselves of any issues with these old accounts. Why did they buy these back? It seems to be only charged-off or closed accounts. Why can't EO help you?
There is something fishy here wth the buy and then buy back.
Anyone got info on this?
just so you know .. there is nothing fishy!
Capital one bought those Accounts! HSBC, WAS SELLING & @ that was liquidating all U.S. ACCOUNTS. now in fact HSBC is back.. & you have to have a relationship with them in Order to get a Credit Card withh them!
ALSO there is nothing wrong with getting another account! if u have several Inqui: YOU CAN STILL GET CREDIT CARDS!