Wow HSBC Approved Me

[NICKI183]

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@Anonymous wrote:

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@Anonymous wrote:

crap! I will dig through the trash when I go home later.....UUGGHH

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Just make sure it didn't say "up to $2500." You could get $300 on a subprime card and it would still technically be "up to $2500."

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Cheddar- do you know HSBC cards they offer are considered to be prime?

[Anonymous]

HSBC can actually be a prime lender. Prime isnt defined by the CL but by the APR. I just got a HSBC card 2 months ago because it was my first prime offer of a $1000 CL with 0% APR for 12 months on purchases and balance transfers and then a go to rate of 9.9% which is definately prime. I work for a bank and we only offer prime cards and our best rewards card is at a rate of 12.99%. BK can definately stand in your way of recieving prime cards even with great "visual" scores. Banks look at more than the score, they look at the history and if your BK isnt over 3yrs old you can pretty much be SOL (and that doesnt mean Statute of Limitations LOL). Good job on getting a decent rate orl thats a good starting point.

[Anonymous]

True HSBC does issue both 'prime' and 'subprime' (rebuilder) cards.   I got rid of my rebuilder and am now very happy with the card I have.  Now my BB Master is a different story.

[Anonymous]

My card is the HSBC Platinum, opened in 2006 starting line $5000 (still there BTW) and my interest was 0% for first 12 months and 11.9 APR. Would this be considered a "Prime" card? Just wondering?

[Anonymous]

Looks like we had the same 5k card.  However, I requested a CLI online and was immediately approved for a pittance online.  That is about as prime as they get.

[Anonymous]

Brammy what is a pittance??

[Anonymous]

10 %

[Anonymous]

Wow (pittance means small I guess), on a positive note at least you saw an increase!

[Anonymous]

Very small as far as CLIs go, but that is standard for them.

[Anonymous]

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InSearchOf720 wrote:

HSBC can actually be a prime lender. Prime isnt defined by the CL but by the APR. I just got a HSBC card 2 months ago because it was my first prime offer of a $1000 CL with 0% APR for 12 months on purchases and balance transfers and then a go to rate of 9.9% which is definately prime. I work for a bank and we only offer prime cards and our best rewards card is at a rate of 12.99%. BK can definately stand in your way of recieving prime cards even with great "visual" scores. Banks look at more than the score, they look at the history and if your BK isnt over 3yrs old you can pretty much be SOL (and that doesnt mean Statute of Limitations LOL). Good job on getting a decent rate orl thats a good starting point.

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Yes, as I said, HSBC does have some prime products.

I have to disagree with your statement that prime is not defined by the CL but by the APR.  As a general rule, subprime products have higher APRs than prime products, but that is not the deciding factor you seem to make it out to be.  My Orchard Secured card is 11.99%.  It's not prime.  CL is $500 secured.

I got 0% for 12 months on a Cap1 card, and 14% after that.  It's a 1.25% cash back card.  Does that sound like a prime offer?  It's not.  CL started at $300, went to $500, and I don't expect it to go much higher.

My Amex Deta Skymiles, on the other hand, is @ 15.99%.  By your definition, Amex would be the least prime of all my cards.