Hi Ryan and welcome to the forum!
Have you actually tried calling HSBC and ask them to reopen the account for you? If not, I would if I were you. And I'd ask to speak to a supervisor, instead of the first person that answers the phone. And ask them for the same cl and int. rates you had when they closed it.
And yes, it is becoming more and more common in today's economy for the CCC's to close a dormant account. Moral of that story is: use every card at least one or 2 times every 3 or 4 months. Then pay it off in full(pif). Put it away and bring it out in 3 or 4 months.
CCC's are getting mighty funky with the things they are doing, considering the mortgage meltdown, and record losses. One must be more diligent now than ever before when it comes to one's personal credit.
Hope that helps. Didn't say a whole lot. What can I say? I like to talk. lol
Congrats on getting your house.
Have you actually tried calling HSBC and ask them to reopen the account for you? If not, I would if I were you. And I'd ask to speak to a supervisor, instead of the first person that answers the phone. And ask them for the same cl and int. rates you had when they closed it.
And yes, it is becoming more and more common in today's economy for the CCC's to close a dormant account. Moral of that story is: use every card at least one or 2 times every 3 or 4 months. Then pay it off in full(pif). Put it away and bring it out in 3 or 4 months.
CCC's are getting mighty funky with the things they are doing, considering the mortgage meltdown, and record losses. One must be more diligent now than ever before when it comes to one's personal credit.
Hope that helps. Didn't say a whole lot. What can I say? I like to talk. lol
Congrats on getting your house.
@Anonymous wrote:
Hi Ryan and welcome to the forum!
Have you actually tried calling HSBC and ask them to reopen the account for you? If not, I would if I were you. And I'd ask to speak to a supervisor, instead of the first person that answers the phone. And ask them for the same cl and int. rates you had when they closed it.
And yes, it is becoming more and more common in today's economy for the CCC's to close a dormant account. Moral of that story is: use every card at least one or 2 times every 3 or 4 months. Then pay it off in full(pif). Put it away and bring it out in 3 or 4 months.
CCC's are getting mighty funky with the things they are doing, considering the mortgage meltdown, and record losses. One must be more diligent now than ever before when it comes to one's personal credit.
Hope that helps. Didn't say a whole lot. What can I say? I like to talk. lol
Congrats on getting your house.
Hi,
Yes, first thing we tried to do was get them to keep it open, or reopen the account. Nope. No way. Getting to a supervisor has been difficult. Every person we have talked to has flat out refused to transfer us, and we have called 4 or 5 times. We even got a set of super checks" in the mail about 6 weeks after they closed the card, even then we could not get a supervisor. As long as this isn't going to reflect negatively on the CR, I'm inclined to just chalk it up to learning and let it go.
All the other cards get used regularly, so I'm not worried about them.
- Ryan
EnderSun wrote:
Hi all,
Have kind of a interesting situation that I am trying to understand the impacts of and deal with in the proper manner.
Background: my wife and I purchased a house in May of 2007. In the months building up that we had been focusing on paying down all the cards and building the credit for the mortgage. At the point we bought the house, we had all the cards paid down to maybe a couple hundred dollars each (4 cards total), except for one card, an HSBC Mastercard, that was pretty much zero. Once we got he house, we stayed very conscious of how much we were spending on the cards, and stopped using the HSBC card. It became my wife's "emergency" card and had a $1500 dollar limit. At that point we had the card just shy of 2 years (opened July 2005 along with a Best Buy account). Last activity on the card was May 2007.
In December we get a nice letter from HSBC telling us that they are closing the card. We log in to the website and the limit has been dropped to $5. Yes, 5 bucks. We call for an explanation and they day "due to lack of use" and that the cardholder agreement allows them to cancel at any time for any reason. Also, at this point there is no way that we can keep it open. We go ahead and request it closed at that point so that it will be reported as closed by us. Now when I check the credit reports it shows as closed, but that the limit was $5, and a high balance of $941.
We never had a late payment on the card. In fact we have never had a late payment on anything.
Will this hurt my credit report? How does a card with a $5 limit look? Any advice at this point? I'm bothered more by the fact that they dropped the limit than the fact that they closed the account.
Thanks,
- Ryan
They say that with such arrogance. Me personally, they can shove their cards u no where.
It sucks when this happens. Unfortunately, you can call, write, plead, but they won't budge on reopening the account...at least that's what I've seen so far on here and from my friend's experience. I've yet to see anyone successfully reopen with them.
They'll simply tell you to reapply for another card. My friend reapplied and was approved, but the credit limit was about 1/4 of his previous card's limit.
They'll simply tell you to reapply for another card. My friend reapplied and was approved, but the credit limit was about 1/4 of his previous card's limit.
