"2 % Cash Back"
HSBC Platinum Visa® with Cash Back Rewards Review
Written by: kdb030609 on 2009-05-10
Overall Satisfaction
Customer Service
Rewards
Account Management
Delivery Time
kdb030609's review: 
I applied online for this card. It wasn't an instant decision. I received approval a week later. They seem to be a little stingy on credit limit. I received just $300 CL. They pulled Experian 705 Fico my lowest. No baddies on my report. The APR isn't too bad at 14.9%.
I applied online for this card. It wasn't an instant decision. I received approval a week later. They seem to be a little stingy on credit limit. I received just $300 CL. They pulled Experian 705 Fico my lowest. No baddies on my report. The APR isn't too bad at 14.9%.
2 Comments
Comment 1 by meya
Counter-offer 
on 2009-05-11
That is because they sent you their re-builder card, not the actual card you applied for. The card that you have does offer cash back, but the rates are higher, and services are different. Did they tell you how much your annual fee was? If so, call them right now and tell them to lower or wave it. I just did that for my husband. His annual fee was $59, and when he called in to activate it, I halted him right on the spot and told him to say exactly what I said, and they reversed the fees.
on 2009-05-11 That is because they sent you their re-builder card, not the actual card you applied for. The card that you have does offer cash back, but the rates are higher, and services are different. Did they tell you how much your annual fee was? If so, call them right now and tell them to lower or wave it. I just did that for my husband. His annual fee was $59, and when he called in to activate it, I halted him right on the spot and told him to say exactly what I said, and they reversed the fees.
Comment 2 by wanderer
Nice Card on 2009-05-17
As a loyal HSBC Bank credit customer I can understand your confusion. HSBC "Local Bank" has several financial banks depending on the credit risk. Orchard Bank is soley for rebuilders or first timers. Cards use low credit lines $200 to maybe $800+. Very tight but a start. Then they have the Household Bank group that is a step up and will likely allow credit lines up to $3,000 or less. The real quality if you will are the cards that are issued by HSBC. Credit lines go to ???? They now have an HSBC Premier MC with requirements of assets on deposit of $500,000. They do have top flight cards but most folks never get there... I have had all of them and love my HSBC Platinum MC Cash Rewards $6,000 CL and HSBC AX $8,000 CL with Points Rewards at 1.25 for every dollar spent. Note, with HSBC you need to hit on them once every year for an interest rate review and credit line increase. They will award based on their own internal system and NOT hit the bureau if you use your cards, pay them off and keep your credit clean. Remember, I have walked the walk on this! Came from a BK 09/2001. It was very tough!!! HSBC has been very good to me!
on 2009-05-17 As a loyal HSBC Bank credit customer I can understand your confusion. HSBC "Local Bank" has several financial banks depending on the credit risk. Orchard Bank is soley for rebuilders or first timers. Cards use low credit lines $200 to maybe $800+. Very tight but a start. Then they have the Household Bank group that is a step up and will likely allow credit lines up to $3,000 or less. The real quality if you will are the cards that are issued by HSBC. Credit lines go to ???? They now have an HSBC Premier MC with requirements of assets on deposit of $500,000. They do have top flight cards but most folks never get there... I have had all of them and love my HSBC Platinum MC Cash Rewards $6,000 CL and HSBC AX $8,000 CL with Points Rewards at 1.25 for every dollar spent. Note, with HSBC you need to hit on them once every year for an interest rate review and credit line increase. They will award based on their own internal system and NOT hit the bureau if you use your cards, pay them off and keep your credit clean. Remember, I have walked the walk on this! Came from a BK 09/2001. It was very tough!!! HSBC has been very good to me!
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Disclaimer: This content is not provided by Capital One Bank (USA), N.A.. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Capital One Bank (USA), N.A.. Review content is powered by Finance Globe.
