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HSBC sells US CC to Captial One

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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
Established Contributor

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
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
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
Visitor
Visitor

Re: HSBC sells US CC to Captial One


@Mekitcat wrote:

@DIA 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
Epic 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
New Contributor

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

Wallet: American Express ZYNC, Barclaycard Financing Visa, Capital One No Hassle Cash MC

Sock Drawer: Capital One Platinum, Best Buy Reward Zone MC, GEMB Wal-Mart (Store only), WFN JCrew (Store), First Premier (Only until June when the AF hits again)
Message 27 of 33
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
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 686 EX 641 EQ 690
Current Score: TU 779 EX 767 EQ 740
Goal Score: 800 Club

BCE $12.5K, 5/3 Sig $10K, Wally Discover 10K, Cash+ $9K Sam's Discover 10K, Freedom $6K, Zales $5.5K, More $5K, Cap one $5K, Barclay 2.5K, Household Plat $1.5K, Household Gold $1.5K, Credit One $1K, First Premier Plat $.675K First Premier Gold $.65K
Message 29 of 33
Established Contributor

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.

__________________________
01/11/2011: FICO:TU: 746
12/14/2010: FICO:EQ: 744
08/12/2011: FICO:EXP: 766
Message 30 of 33
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