"Not Worth It If You Don't Use It. "
HSBC American Express® Card with Plus Rewards Review
Written by: paula on 2008-03-25
Overall Satisfaction
Customer Service
Rewards
Account Management
Delivery Time
paula's review: 
I obtained this card back in September 07 when I received a pre-approval in the mail. I applied for the card and waited about three months to activate it since I wasn't sure if I wanted to use it or not. During the three months I was able to obtain a "Real" Amex card so I decided that this card was no longer necessary but I wanted to keep the card just incase some sort of emergency came up. Well I received a letter today from HSBC American Express stating that they have made a decision to close my account based on inactivity. So if youre apply for this card make sure you use it at least once a month or you may find yourself receiving the same letter I did.
I obtained this card back in September 07 when I received a pre-approval in the mail. I applied for the card and waited about three months to activate it since I wasn't sure if I wanted to use it or not. During the three months I was able to obtain a "Real" Amex card so I decided that this card was no longer necessary but I wanted to keep the card just incase some sort of emergency came up. Well I received a letter today from HSBC American Express stating that they have made a decision to close my account based on inactivity. So if youre apply for this card make sure you use it at least once a month or you may find yourself receiving the same letter I did.
8 Comments
Comment 1 by meya
See 
on 2008-03-25
I told people that sock drawers and non usage is not good. It does not look good on our credit report neither. This is why I will purchase some junk food or a meal with my card every other month or earlier. The best thing is for them to close your account at OUR request, not theirs
So sorry this happend, but the good thing is that it was closed with a little credit history from them. I am glad that it was not a card that you have applied for years ago... Whew!
on 2008-03-25 I told people that sock drawers and non usage is not good. It does not look good on our credit report neither. This is why I will purchase some junk food or a meal with my card every other month or earlier. The best thing is for them to close your account at OUR request, not theirs So sorry this happend, but the good thing is that it was closed with a little credit history from them. I am glad that it was not a card that you have applied for years ago... Whew!
Comment 2 by adicus
HSBC Amex. on 2008-03-25
Most creditors close accounts that were not activated within a 30-60 day period for your protection. Socking away credit cards is not a bad thing nor will it adversely affect you. The only thing that can result from lack of use is that your account can be labeled dormant; all you have to do is call and re-activate it. I never heard of a creditor permanently closing an account for inactivity, usually they kill you with CLI's to get you to use them.
on 2008-03-25 Most creditors close accounts that were not activated within a 30-60 day period for your protection. Socking away credit cards is not a bad thing nor will it adversely affect you. The only thing that can result from lack of use is that your account can be labeled dormant; all you have to do is call and re-activate it. I never heard of a creditor permanently closing an account for inactivity, usually they kill you with CLI's to get you to use them.
Comment 3 by meya
It Has Happen on 2008-03-25
There are some members here that had this same incident happen to them and they were not able to get the card back open (different credit reason). Cards will close your account for not using them like you said, but it will hurt your score if you did not use it for a while.
Let's pretend that you had AMEX for 15 yrs and for 6 months you decided to stop using it. Also lets say that AMEX is your oldest card. If they close that account your score will drop tremendously becasue that is a long history report. Certian companies may not want you back then what?
on 2008-03-25 There are some members here that had this same incident happen to them and they were not able to get the card back open (different credit reason). Cards will close your account for not using them like you said, but it will hurt your score if you did not use it for a while. Let's pretend that you had AMEX for 15 yrs and for 6 months you decided to stop using it. Also lets say that AMEX is your oldest card. If they close that account your score will drop tremendously becasue that is a long history report. Certian companies may not want you back then what?
Comment 4 by arod
This Card.From HSBC on 2008-03-25
Well I Could say is thanks.
I have HSBC cards 3 of them And I was going to wait a few years to apply for this card and Now I don't know. And of course close one or two.
And I say guys please write more on this card if you have it. so I can have an Idea or info.
With in a few years from now.
Thank You,
Alex
on 2008-03-25 Well I Could say is thanks.I have HSBC cards 3 of them And I was going to wait a few years to apply for this card and Now I don't know. And of course close one or two.
And I say guys please write more on this card if you have it. so I can have an Idea or info.
With in a few years from now.
Thank You,
Alex
Comment 5 by ash
Re on 2008-03-25
I agree with meya, You can buy a pack a gum or something to help in the Fico scoring formula. Not only that some creditors will go one step further and not even report your account to the CRAs if you totally sock drawer your cards because of non activity. They do want to see low utility percentage...
on 2008-03-25 I agree with meya, You can buy a pack a gum or something to help in the Fico scoring formula. Not only that some creditors will go one step further and not even report your account to the CRAs if you totally sock drawer your cards because of non activity. They do want to see low utility percentage...
Comment 6 by paula
So I Called Customer Service on 2008-03-27
Just out of curiosity I called CS to see if I could get the card reinstated. I was told that the account had been closed permanently and that I would need to reapply if I wanted another card. Of course I said NO THANK YOU!
The best part is that I checked all three credit reports and the account was never reported as being active.
on 2008-03-27 Just out of curiosity I called CS to see if I could get the card reinstated. I was told that the account had been closed permanently and that I would need to reapply if I wanted another card. Of course I said NO THANK YOU! The best part is that I checked all three credit reports and the account was never reported as being active.
Comment 7 by bramford
Avoid HSBC At All Cost! on 2008-03-31
Avoid HSBC at all cost. Their CS is HORRIBLE!!! A great deal of the value of a credit card is in the CS.
on 2008-03-31 Avoid HSBC at all cost. Their CS is HORRIBLE!!! A great deal of the value of a credit card is in the CS.
Comment 8 by irishpm
Hard Inquiry Without Authorization? on 2008-05-27
I was sent a 'pre-qualification' offer from HSBC for their American Express Rewards card. The 'offer' states that by filling out the 'offer' code online that you will not be subjected to a 'hard' pull on your credit report if you choose to decline their offer.
I declined their offer and low and behold HSBC pulled my Experian (CS is 708) no more than 15 seconds after I said 'No Thanks'.
Anyone else have this happen?
on 2008-05-27 I was sent a 'pre-qualification' offer from HSBC for their American Express Rewards card. The 'offer' states that by filling out the 'offer' code online that you will not be subjected to a 'hard' pull on your credit report if you choose to decline their offer.I declined their offer and low and behold HSBC pulled my Experian (CS is 708) no more than 15 seconds after I said 'No Thanks'.
Anyone else have this happen?
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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.
