Hsbc, sinking ship, jump or wait?

[Believe1970]

Does anyone know when a descion could be expected?

[ptkdude]

Looks like JPMorgan Chase might be jumping into the fray, as well:

http://www.abalert.com/headlines.php?hid=152684

[Mekitcat]

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@Believe1970 wrote:
Does anyone know when a descion could be expected?

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I would think that would depend on how many big banks make an offer that Hsbc likes.

I would think it wouldn't happen for at least a year or more because of the legality of it all, provided they took an offer.

But I'm be no means any kind of expert, that would just be a good guess.

[android01]

My hope would be that whomever ends up with HSBC's portfolio will treat their new customers better than Chase treated WAMU customers.

[jmcmillan]

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@android01 wrote:

My hope would be that whomever ends up with HSBC's portfolio will treat their new customers better than Chase treated WAMU customers.

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Would you mind going into detail about this? I'm considering opening an Orchard card so that I may get into Wells or back into Chase...

[lakerfan2011]

well i hope its capital one i already have two accounts with chase and one with wellsfargo with pretty good limits they would probally get rid of my two cards if it went over,

[Smug]

I am hoping for chase.

[Anomalous]

This will be interesting, since I just received my Household Bank CC in June. I hope someone other than Capital One acquires the account. I had an account with them in the past that went into collections. I would hate to be dropped due to some blacklisting after taking charge to correct my credit. *crosses my fingers*

[android01]

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@jmcmillan wrote:

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@android01 wrote:

My hope would be that whomever ends up with HSBC's portfolio will treat their new customers better than Chase treated WAMU customers.

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Would you mind going into detail about this? I'm considering opening an Orchard card so that I may get into Wells or back into Chase...

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Chase cut a 15K CL in half and rate jacked me to 25% from 11%.  The WAMU account was 10 years old at the time with perfect payment history.  I called to ask for a rate reduction (which they refused to do) and was told by a Chase CSR, "Sir, if you can't afford to use our credit card, then by all means use someone elses".  Needless to say I took their advice, and my Chase card sits in the sock drawer with a $19 recurring charge every month.  I won't close it because it's 12 years old now.  At the time, Chase seemed to be actively culling WAMU customers based on some of the things I've read here and elsewhere.  I can just imagine what they'll be culling when it comes to some of HSBC's products and customers.   

[Mekitcat]

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@Anomalous wrote:

This will be interesting, since I just received my Household Bank CC in June. I hope someone other than Capital One acquires the account. I had an account with them in the past that went into collections. I would hate to be dropped due to some blacklisting after taking charge to correct my credit. *crosses my fingers*

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I don't think that would happen, at least it didn't for me. I still had the collection on my account from Cap1 and they gave me a new card in April. However the limit is low but I was shocked they sent me a pre-approval in the mail and sure enough I got the card.