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HSBC leaving US.

Goos
New Contributor

Re: HSBC Exit US


@coldfusion wrote:

Got a letter from HSBC today.  I'm not going to bother with posting an edited image or the content in its entirety, but will comment on a few highlights. 

 

At 11:59PM ET on 2/18/22 "one or more of my accounts" will become Citizens accounts. 

.

.

.

"Personal account types that will transfer to Citizens include deposit accounts (checking, savings, certificate of deposit), personal credit cards, mortgages and Home Equity Line of Credit (HELOC).  All other personal account types will remain with HSBC....."

 

As I had mentioned earlier in this thread, Citizens earlier touched on the topics of credit cards and HELOCs in their last mailing but this confirms that for those of us being migrated to Citizens with credit cards and/or HELOC accounts they will be migrating over with us. 

 

Given that Citizens currently only has a 1.8% cashback Mastercard and their version of a BT card in their portfolio I'm again wondering how this will pan out for me, both in light of the BBVA Clearpoints conversion where most of us ended up with an inferior card and in my particular case where I already hold that 1.8% cashback Mastercard. 


So I still have not had an communication from HSBC or citizens , I have 2 cards and that's it and I'm not high networth and the cards are 2k limits one gold , one cash rewards . I find it hard to believe they are keeping me . I guess I will just keep waiting . 

Message 61 of 70
Ah-Chew228
Valued Member

Re: HSBC Exit US

I am still waiting for communication from HSBC that my relationship (Premier checking and savings, Elite and Advance MCs) will be moved to Cathay Bank. This is the email I received from HSBC today (see attachments).Screenshot_20211115-142129_ProtonMail.jpg

 

Screenshot_20211115-142201_ProtonMail.jpg

 

Screenshot_20211115-142139_ProtonMail.jpg

 

Message 62 of 70
Cory88
Frequent Contributor

Re: HSBC Exit US

I have gotten a lot of conflicting letters from HSBC one minute it tells me that HSBC is keeping my credit card and selling off cheque and savings with my LOC now I get a letter saying that everything except my LOC is going to be sold and HSBC is keeping my LOC. I called HSBC and they told me they are going to close out my LOC. I just don't understand how so close to the transfer date 18 Feb 2022 and they don't know what is going on and the letters keep changing.

Message 63 of 70
Goos
New Contributor

Re: HSBC Exit US

At least you get letters , I have gotten zero letters . Luckily I don't owe them any money currently . So I'll just wait . 

Message 64 of 70
RSX
Valued Contributor

Re: HSBC Exit US

i just got a letter as well, that leads me to believe the CC will be moved to Citizens and the LOC will stay with HSBC

 

who knows - looks like Feb 2022 these changes will come into affect

Dec 16/2019. EX. 721. EQ. 723. TU 746
Dec 29/2020 EX. 729 EQ. 723 TU 746
Sept 9/2021 EX. 734 EQ. 737 TU 746
Inq. EX 5 EQ 2 TU 5 - - CC 4x24, 3x12, 0x6
Amex BCP $32k - Apple GS $19k - BMW/Elan $9k - Cap1 QS $16.7k - Chase Amazon $13.6k - Chase Bonvoy Boundless $10k - Chase United Club Infinite $26k - Citi DC $14.5k - CreditUnion1 $9k - DiscoverIT $23k - HSBC Gold - $13k - Penfed Gold - $12.5k - USBank Cash+ -$24k - HSBC LOC - $13.5k - PenFed LOC - $20k
Message 65 of 70
sjt
Senior Contributor

Re: HSBC Exit US


@RSX wrote:

i just got a letter as well, that leads me to believe the CC will be moved to Citizens and the LOC will stay with HSBC

 

who knows - looks like Feb 2022 these changes will come into affect


I wonder if the Premier credit cards will migrate to Citizens.

American Express: Platinum Charge, Optima, Business Gold, Delta Business Platinum, Business Cash
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture X Visa Infinite
Chase: Freedom U Visa Signature, CSR Visa Infinite
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity Visa Signature
Credit Union: Rewards Visa
FICO 08: Score decrease between 26-41 points after auto payoff (11.01.21) EX: 806 / EQ: 824 / TU: 812
Message 66 of 70
Dinosaur
Moderator Emeritus

Re: HSBC Exit US

@M_Smart007

Any word on whether the HSBC Premier Cards will move?
Starting Score: 850
Current Score: 850
Goal Score: 850


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Message 67 of 70
M_Smart007
Epic Contributor

Re: HSBC Exit US


@Dinosaur wrote:
@M_Smart007

Any word on whether the HSBC Premier Cards will move?

@Dinosaur,

Funny you should ask?  ..

A Letter just came in todays mail.

(click image to enlarge)(click image to enlarge)

Link just in case

https://i.imgur.com/lgSfONA.png

 

Edited for larger readable image.

Message 68 of 70
coldfusion
Community Leader
Super Contributor

Re: HSBC Exit US

You just got that letter today?  That looks like the letter I got a couple of weeks ago I mentioned upthread.   Sheesh. 



(11/2021)
FICO 8 (EX) 806 (TU) 833 (EQ) 827
FICO 9 (EX) 828 (TU) 841 (EQ) 842

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 69 of 70
M_Smart007
Epic Contributor

Re: HSBC Exit US


@coldfusion wrote:

You just got that letter today?  That looks like the letter I got a couple of weeks ago I mentioned upthread.   Sheesh. 


Yes @coldfusion , Just came today, talk about snail mailSmiley Tongue

Message 70 of 70
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