Household Bank APR reduction

tknkrov · ‎10-23-2007

Okay so I have two rebuilder cards from HSBC a Household bank and an Orchard Bank, both with annual fees $59 and $99 and one with an apr of can I say OUCH 27% and one 16%. I called today to cancel and was asked why and the above is self explanitory. Well the actually very nice CSR says you have been with us since 04 and your payment history is excellent I can lower that apr to 13% (the 27% one) and lets submit a a form to combine your two cards. You will recieve a letter in the next 20 days telling you of the combining card offer. So do I now keep the card it still will have the annual fee but lower apr and she says they will increase my Cl by how much she wasn't sure. I guess we will see how much they want my business when that letter comes.

Anonymous · ‎10-23-2007

Why don't you call back, and see if they will waive the AF's? What can it hurt? They've already reduced your int. rate.

Good job of getting it lowered!

What are the cl's on each of them?

Good luck.

tknkrov · ‎10-23-2007

one 800 and the other 1150 two of my lower lines. I think the only way I will except the combining offer is if they give me a CL of 2000. I will work on the annual fee later if I take it. I have to give them this they did take a chance on me back when my credit was really bad only a year after 3 charge offs, so I guess I feel I made some headway with them today. I have read other people trying to get them to combine and they wont but they offered it to me I didn't ask.

Anonymous · ‎10-23-2007

Has anyone had any sucess in lowering intrest rate on orchard bank card.i had over limit fees twice. Have paid ontime for 7 months and no overlimit fees for seven months.

Anonymous · ‎10-23-2007

orchard will not lower rates! I went over my limit by like 5 bucks my rate shot to 30%. I called to see if they would lower my rate since I hadnt been late ever since I had my card (2 years) I immediatly paid the account in full and cancelled!

Anonymous · ‎10-23-2007

I have been trying for the last 6 months or so to get an APR reduction with Household.....they will not budge. They won't even waive the yearly fee and I have had the card for 5 years and have one 30 day late in that time.

tknkrov · ‎10-23-2007

I told them I had better cards and had no need for this one which is really true and I have hardly used it in the last 6-8 months so maybe they just want to lure me to stay with them. I have never been late not even 1 day since I opened it, never gone over my limit and have always tried to stay under 50% util. I know under 10% is better but when the CL is only 800 what can you do I just always pay it down as fast as I can.

Anonymous · ‎10-23-2007

I got one out of Household - Took 6 months-

Sent the recon via email - the reply was a no- but next statement it came way back down-

I PIF Now- I even got a 0% transfer out of them in May.

tknkrov · ‎11-26-2007

Thought I would update you on the combining of my 2 hsbc cards. I had been waiting for a letter to tell me what they were going to do but none came. I logged on to my account the other day and they had already done it. They did combine both limits and so I now have a cl of $1950 which is good because if they hadn't I would have closed. I will work on getting the anual fee taken off before it comes due again but I feel I made some progress with them.

Anonymous · ‎11-27-2007

good for you if hsbc does something good for you. i closed my orchard acct and hsbc is next. they will not give you cli and interest is exorbitant. orchard was charging me af.i was with them 4 yrs.