Hsbc, sinking ship, jump or wait?

[RockinRay]

IMO - just wait it out to see what happens.

Until something is announced, why worry!

Ray

[tinuviel]

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@RockinRay wrote:

IMO - just wait it out to see what happens.

Until something is announced, why worry!

Ray

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Yeah, I've decided to hang onto mine for a while just to see what happens. I'm going to call up in a couple of weeks, though, and see if I can get them to waive or reduce the upcoming AF. I'm planning on using the uncertainty as a basis for not wanting to pay the full fee.

[RockinRay]

Good move on your part to give them a call.

Why knows, the game will most likely change some when the transition happens, but it could be for the good. The last thing they will want to do is upset their customers. Bad business so to speak.

Let us know if you get the AF waived.

Ray

[stan_the_man]

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@TravellingNomad wrote:

if HSBC does get bought out by another lender/creditor, how will that affect my current BBRZ MC reporting if i decide to just keep the card?  will it close the HSBC TL on my report and then a new one under the new company pops-up?  or would the name just update and its business as usual?

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DW and I have both had a CC creditor transfers in the past 6 months. One closed the old trade line and created a new one with the same open date, while the other assumed the entire history of the original trade line with a new name and address.

[Wolf3]

I have an HSBC and a Cap1 as well.   I am going to try to add a bank card from someone else and wait to see what HSBC does.

You might want to do the same.

[lakerfan2011]

i have two orchard bank cards had them for 3 years now i have 8000 limits on both and two percent cash back i built these for the ground up for 750 limits back 3 years ago  my credit has been jumping up ever since i have 16000 with there bank and no af on both god i would hate to lose out on these .  i have built these into cards better then a lot of the banks out there.  if i go to capital one i know i will probally lose my limits.

[Mekitcat]

Cap1 isn't the only one interested Wells Fargo put in a bid too.

"NEW YORK, July 14 (Reuters) - Capital One Financial Corp (COF.N) and Wells Fargo (WFC.N) are among the bidders for HSBC Holdings Plc's (HSBA.L) U.S. credit card portfolio, according to sources familiar with the situation."

http://www.reuters.com/article/2011/07/14/hsbc-sale-idUSN1E76D1UP20110714

[TravellingNomad]

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@stan_the_man wrote:

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@TravellingNomad wrote:

if HSBC does get bought out by another lender/creditor, how will that affect my current BBRZ MC reporting if i decide to just keep the card?  will it close the HSBC TL on my report and then a new one under the new company pops-up?  or would the name just update and its business as usual?

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DW and I have both had a CC creditor transfers in the past 6 months. One closed the old trade line and created a new one with the same open date, while the other assumed the entire history of the original trade line with a new name and address.

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thanks for the input stan.

if WF is the winning bidder...i may have a WF cc after all in the future

[Mekitcat]

"if WF is the winning bidder...i may have a WF cc after all in the future"

Me too!

[tinuviel]

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@Mekitcat wrote:

Cap1 isn't the only one interested Wells Fargo put in a bid too.

"NEW YORK, July 14 (Reuters) - Capital One Financial Corp (COF.N) and Wells Fargo (WFC.N) are among the bidders for HSBC Holdings Plc's (HSBA.L) U.S. credit card portfolio, according to sources familiar with the situation."

http://www.reuters.com/article/2011/07/14/hsbc-sale-idUSN1E76D1UP20110714

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Now THAT piques my interest. I already have two Cap1 cards, so I don't need/want another one. But, I bank with Wells Fargo (just recently converted from Wachovia), and I have been interested in one of their cards. But... I don't want to take another inq or new account hit. If this is true, then I hope that WF wins out so that I can get grandfathered into a WF card.