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HSBC sells US CC to Captial One

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meka1984
Regular Contributor

Re: HSBC sells US CC to Captial One

I hope Capital One responds with their plan of action soon.

Message 21 of 33
Anonymous
Not applicable

Re: HSBC sells US CC to Captial One


@meka1984 wrote:

I hope Capital One responds with their plan of action soon.


You should read their "plan of action" that was released after they had bought ING Direct recently. It's a wonderful piece of flowery corporate speak that has absolutely zero contents.

Message 22 of 33
CS800
Super Contributor

Re: HSBC sells US CC to Captial One

I have two cap one and a BBRZ MC which is HSBC. So that means i will have 3 cap ones....great this completes my no CLI cycle.




Message 23 of 33
llecs
Moderator Emeritus

Re: HSBC sells US CC to Captial One


@CS800 wrote:

I have two cap one and a BBRZ MC which is HSBC. So that means i will have 3 cap ones....great this completes my no CLI cycle.



Smiley Very Happy

Message 24 of 33
Anonymous
Not applicable

Re: HSBC sells US CC to Captial One


@Mekitcat wrote:

@Anonymous wrote:

 

 

What might happen to Orchard Bank credit card holders after the transfer if CapOne finds that person was blacklisted with CapOne?



How do you know if you were blacklisted? Did you default with them recently? I still had the CA of theirs on my CR and they still gave me a new card, granted it was a mere $300 limit (its also in credit steps) but it was my first card again when I started to repair. I only just got it this past April. So you may not be as blacklisted as you might think. Unless it was recent?


 

Not me, but the person is definitely blacklisted.  When they apply CapOne doesn't even pull their credit reports and declines the application stating "past delinquencies with CapOne".  Not sure what their criteria for blacklisting is, but they do have people on a blacklist.

 

I wonder if after acquiring the Orchard Bank portfolio they will cancel those on their blacklist.

Message 25 of 33
Creditaddict
Legendary Contributor

Re: HSBC sells US CC to Captial One

I have a feeling this is going to be much like Wahington Mutual being bought by Chase.... Many people transferred over with a Blacklist from Chase and they didn't get closed out.... I believe it was 6-12 months in that some people did experience some closures.... my friend came over with 8k line... he closed about a year after and tried to open a card directly with Chase and he was black listed... they told him he shouldn't have closed the card he had and it would have been fine...

Besides HSBC and Cap1 have been practically running the exact Sub-Prime credit offerings for years. $300 start up CL and no CLI in over 2 years.... it's a wash in my eyes of who owns it.

Message 26 of 33
Anonymous
Not applicable

Re: HSBC sells US CC to Captial One

No CLI should be cap 1's new motto. my first card was a cap 1, over 3.5 years ago. Never a single CLI. Just recently opened a new cap 1 w/ a $500 initial limit and they STILL won't increase my paltry $300 startup limit. Even when I threatened to cancel my account, the lovely CSR from some other country just said, OK, would you like me to cancel now?

 

They don't care one bit about customer service or retention.

 

Looks like I'll be cancelling my BBRZ card once it goes over to cap 1

Message 27 of 33
brian2220
Regular Contributor

Re: HSBC sells US CC to Captial One

my household bank card is now closed 

its was a good ride while it lasted has opened alot of doors for me Smiley Happy

 now i just need to find a nice card to replace it.

 

 

   RIP

Household Bank  06/12/2008 - 6/12/2011

 

My Cards
BBVA/Compass 2/12 $ 5000 ----- Chase Freedom 12/10 $3000 ---- Cabela's 1/12 $3000 -----US Bank FlexPerks Cash Rewards 6/11 $3000 ----Walmart Discover 10/11 $2814 ------ Discover More 11/11 $2500 ----- Amazon Store Card 2/11 $2100---- Amex Zync 4/11 ---- Citi Dividend Platinum Select 3/11 $1950 ---- BofA Cash Rewards 12/11 $1000
Message 28 of 33
JonStur
Established Contributor

Re: HSBC sells US CC to Captial One

I have an HSBC Gold and Plat. Visa.. Along with my Cap1 Rewards guess I'll have 3 now????

Starting Score: TU 595 EX 600 EQ 585
Current Score: TU 820 EX 825 EQ 812
Goal Score: 800 Club (Mission Accomplished)

Amex Platinum, Amex BCP $17.5K, 5/3 Sig $10K, Capital One Quicksilver 15K, Walmart 10K, US Bank Cash+ 15K, Sam's Club 10K, Chase Freedom $6K, Discover More $15K, Chase United Club MileagePlus $33K, Costco $6K, CapOne Quicksilver One $7K, Cap One Quicksilver $5K, Amazon $3K, Barclays $12.5K, Home Depot $7.5K, AppleCard $6K
Message 29 of 33
Anonymous
Not applicable

Re: HSBC sells US CC to Captial One

Wow looks like it. I read an article saying theres a good posibility that overlapping customers (customers being switched over that already have subprime capital one cards) will face credit cuts to minimize risk exposure. Oh wow this is going to be interesting.

Message 30 of 33
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