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HSBC vs Orchard Prime vs Sub Prime

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Frequent Contributor

HSBC vs Orchard Prime vs Sub Prime

Good Morning,
 
Is ther a diffrence in HSBC  vs Orchard.  Is the HSBC card more "prime" than Orchard?
 
W
 
TU 670
EQ 670
EX 617
JFCU $5,000
JFCU AUto Loan $11,000
Jet Blue Amex $2,000
BOA 3,500
Best Buy Store Card $2,200
Kay Jewlers $3,200
Message 1 of 10
9 REPLIES 9
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Moderator Emeritus

Re: HSBC vs Orchard Prime vs Sub Prime



WBLAKE wrote:
Good Morning,
 
Is ther a diffrence in HSBC  vs Orchard.  Is the HSBC card more "prime" than Orchard?
 
W
 


I wouldn't consider HSBC prime but it's better than Orchard. IMHO, HSBC is about the same as Cap1.
Message 2 of 10
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Moderator Emeritus

Re: HSBC vs Orchard Prime vs Sub Prime

HSBC owns Orchard and household Bank.

Their prime cards do not have AF's.

I have 2 Householdbank and DW has 2 Orchard.

Terms are similar but no AF on her orchard's.
Message 3 of 10
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Regular Contributor

Re: HSBC vs Orchard Prime vs Sub Prime

Careful with HSBC or they subprime car Householdbank, because they hype your rate by just reviewing your credit score. Therefore, if your credit drop for some reason below 600, and they see it, your rate will jump from 19% to 29%. It happened to me.
Message 4 of 10
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Regular Contributor

Re: HSBC vs Orchard Prime vs Sub Prime

I have an Orchard card and called yesterday to ask is they would "graduate" me from their sub-prime card. I do have an AF but the woman I spoke with told me that it's not sub-prime. Is she off her rocker?
Message 5 of 10
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Frequent Contributor

Re: HSBC vs Orchard Prime vs Sub Prime

The reason that I originally asked the question is because almost everyday I receive mail from Orchard asking me to apply for their card.  I havent done it because I really dont need another 300 subprime card with a ridiculous AF.  I currently have the following.
 
Credit One Bank 200
Capital 1 300
CitiBank 500
 
I am also waiting for work from CCCU
 
My plan was to ride the wave with those for a while.  Yesterday I went to the HSBC site and they offer an opttion to pre qualify you for a card and it does not do a hard pull.  So if you are not qualified there is no harm done (are there any more cards like that.  I know about BOA).  So i went through the process and they qualified me for an HSBC card.  I havent applied for the card yet.  Whats the opinion of the group on the HSBC card?
 
W
TU 670
EQ 670
EX 617
JFCU $5,000
JFCU AUto Loan $11,000
Jet Blue Amex $2,000
BOA 3,500
Best Buy Store Card $2,200
Kay Jewlers $3,200
Message 6 of 10
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New Member

Re: HSBC vs Orchard Prime vs Sub Prime

Hi, I am new to these fico forums I just discovered this site about two weeks ago and I am so addicted already! I have been doing some credit repair on my own.  We filed bk in 05 and have been trying to rebuild our credit every since.  Since last September 06 I have been dilligently working on rebuilding our credit.  Forgive the long letter but I am so excited!!!!!!!!! about all the info I have learned since finding these forums.  The very first night I applied for 4 ccs Hooters, Marathon, Target and Walmart.  I got approved for Target 200 cl and Hooters 1000.00 cl. I already had Cap one (04-07) with a 750 cl but after reading these forums I asked for a cli and was given 500 more dollars for a 1250. cl I also had two Orchard cards, one secured (04-07) for 250 cl and unsecured(11-06) that was 300 cl initially and a 100 cli for a limit of 400. I also got financed for a car from cap one in Jan 07 for 23000.00 and after six months of good payment history that car was paid off by chrysler and I got a brand new car 07 for 32000.00.  I will have a paid off car on my credit. My question is, should I consolidate the two orchard cards and will that effect my score? around 638 also I have allways pd my balances down to zero every month before the billing date so I allways have a zero balance.  I never charge more than I can pay back in a month.  When I got my new car the finance manager said congrats on your excellent credit history after bk.  But in reading these forums I'm confused should I leave a balance to get my scores higher am I hurting myself? also  I have four major ccs I don't think I need that many but I was hit by the bug to apply for more credit which seems to be disease on these forums not to mention what those inq did to my score. My DW and myself are trying to get in a position to purchase a home by next year his score is worst than mine because he keeps maxing out his cc but his income is better.  I would love to apply for the cccu cc because it seems you get better limits but I wll have to wait I came accross that one after I applied for the other ones. 
 
Sorry for the book but I had so many ?
Message 7 of 10
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Frequent Contributor

Re: HSBC vs Orchard Prime vs Sub Prime



Redamagon wrote:
 because they hype your rate by just reviewing your credit score.

A lot of cc companies do this, just another reason to manage your credit well.
Message 8 of 10
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New Member

Re: HSBC vs Orchard Prime vs Sub Prime

sorry that's DH not DW
Message 9 of 10
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Frequent Contributor

Re: HSBC vs Orchard Prime vs Sub Prime



favor wrote:
Hi, I am new to these fico forums I just discovered this site about two weeks ago and I am so addicted already! I have been doing some credit repair on my own.  We filed bk in 05 and have been trying to rebuild our credit every since.  Since last September 06 I have been dilligently working on rebuilding our credit.  Forgive the long letter but I am so excited!!!!!!!!! about all the info I have learned since finding these forums.  The very first night I applied for 4 ccs Hooters, Marathon, Target and Walmart.  I got approved for Target 200 cl and Hooters 1000.00 cl. I already had Cap one (04-07) with a 750 cl but after reading these forums I asked for a cli and was given 500 more dollars for a 1250. cl I also had two Orchard cards, one secured (04-07) for 250 cl and unsecured(11-06) that was 300 cl initially and a 100 cli for a limit of 400. I also got financed for a car from cap one in Jan 07 for 23000.00 and after six months of good payment history that car was paid off by chrysler and I got a brand new car 07 for 32000.00.  I will have a paid off car on my credit. My question is, should I consolidate the two orchard cards and will that effect my score? around 638 also I have allways pd my balances down to zero every month before the billing date so I allways have a zero balance.  I never charge more than I can pay back in a month.  When I got my new car the finance manager said congrats on your excellent credit history after bk.  But in reading these forums I'm confused should I leave a balance to get my scores higher am I hurting myself? also  I have four major ccs I don't think I need that many but I was hit by the bug to apply for more credit which seems to be disease on these forums not to mention what those inq did to my score. My DW and myself are trying to get in a position to purchase a home by next year his score is worst than mine because he keeps maxing out his cc but his income is better.  I would love to apply for the cccu cc because it seems you get better limits but I wll have to wait I came accross that one after I applied for the other ones. 
 
Sorry for the book but I had so many ?


Favor,
Yes, you are best served keeping your cc balances btwn 1-9% utilization. The credit scoring 101 thread is a great read. You also  might get a better response if you start your own new thread. Welcome to the boards.
~lori


Message Edited by Lori344 on 08-13-2007 10:44 AM
Message 10 of 10
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