"HSBC IloveNY Gold MC"
HSBC Platinum MasterCard with Cash or Fly Rewards Review
Written by: markrivers on 2008-02-10
Overall Satisfaction
Customer Service
Rewards
Account Management
Delivery Time
markrivers's review: 
Hi guys!
I got this pre approved offer from the mail today. It's from HSBC and the card is..."seriously" I love NY Gold Mastercard with an actual plastic replica of the card.
A promised CL of up to $2000.00
Funny, since I'm from CT and before I start loving NY... Let's just say there's Boston, San Francisco etc ha ha ha!
Sorry NY residents... I'm still sour graping when your Giants defeated our Patriots =)
Anyway, the offer appears legit! 0% APR for 12 months no annual fee var APR of 14% after etc..
Hmmm... Tempting, if you have read my other post
( WAMU Platinum VISA) you know I have a Banana Republic store card..
Got me thinking, why not transfer the balance to this one. And an additional credit limit will boost my credit score... Although another application can reduce some points..
Oh well... So I log in, applied and got approved.
Now here's the TWIST... The page says congratulations! And the Card they gave me was the regular HSBC PLatinum MC and no credit limit stated... Hmmm..
My question to HSBC card holders... Is it really like this? So I have to wait for the card to know my credit limit?
At the end... I have the option on the page to go with the usual 10-14 days processing or pay a $35 rush fee to make it 3-5 days... I chose the 10-14 days since I have no intent of using it right away.
Hi guys!I got this pre approved offer from the mail today. It's from HSBC and the card is..."seriously" I love NY Gold Mastercard with an actual plastic replica of the card.
A promised CL of up to $2000.00
Funny, since I'm from CT and before I start loving NY... Let's just say there's Boston, San Francisco etc ha ha ha!
Sorry NY residents... I'm still sour graping when your Giants defeated our Patriots =)
Anyway, the offer appears legit! 0% APR for 12 months no annual fee var APR of 14% after etc..
Hmmm... Tempting, if you have read my other post
( WAMU Platinum VISA) you know I have a Banana Republic store card..
Got me thinking, why not transfer the balance to this one. And an additional credit limit will boost my credit score... Although another application can reduce some points..
Oh well... So I log in, applied and got approved.
Now here's the TWIST... The page says congratulations! And the Card they gave me was the regular HSBC PLatinum MC and no credit limit stated... Hmmm..
My question to HSBC card holders... Is it really like this? So I have to wait for the card to know my credit limit?
At the end... I have the option on the page to go with the usual 10-14 days processing or pay a $35 rush fee to make it 3-5 days... I chose the 10-14 days since I have no intent of using it right away.
14 Comments
Comment 1 by arod
Good Card 
on 2008-02-10
I have this card for like six months and my credit line is $300 so Im thinking of closing it
Anyway before I close it. Any advice from people that have this card.
I like to hear from you.
Thanks,
Alex
on 2008-02-10 I have this card for like six months and my credit line is $300 so Im thinking of closing it Anyway before I close it. Any advice from people that have this card.
I like to hear from you.
Thanks,
Alex
Comment 3 by markrivers
You Closed It? on 2008-02-10
Thanks alex for the quick reply.
i'm not a fan of closing accounts... Esp credit card accounts.
unless you're in the first 3 months since the card is approved.
the thing is, once you close an account, the total credit limit you have on your credit report will also decrease..
to make it simple add all the credit cards you have. Add the Credit limit of all your cards... And that's your Upper limit. That's how they compute the % of your usage. So let's say your upper limit is 10,000 from 7 existing card and you have a total balance of 6,000 from these cards. Right now you're using 60% of your credit
and this is not good... Recommended is around 30-35% only.
let's say you close an account with a 1500 CL... Your upper limit now decreases to 8,500...
for the sake of discussion, come next billing cycle, you paid only the minimum in all your cards, then your new credit usage will be 70.5% and that is bad!
on 2008-02-10 Thanks alex for the quick reply.i'm not a fan of closing accounts... Esp credit card accounts.
unless you're in the first 3 months since the card is approved.
the thing is, once you close an account, the total credit limit you have on your credit report will also decrease..
to make it simple add all the credit cards you have. Add the Credit limit of all your cards... And that's your Upper limit. That's how they compute the % of your usage. So let's say your upper limit is 10,000 from 7 existing card and you have a total balance of 6,000 from these cards. Right now you're using 60% of your credit
and this is not good... Recommended is around 30-35% only.
let's say you close an account with a 1500 CL... Your upper limit now decreases to 8,500...
for the sake of discussion, come next billing cycle, you paid only the minimum in all your cards, then your new credit usage will be 70.5% and that is bad!
Comment 4 by aclove404
Keep It Open on 2008-02-10
Keep the account open with HSBC they will help you in the long run
on 2008-02-10 Keep the account open with HSBC they will help you in the long run
Comment 5 by hjm331
Can They Report Any Slower? on 2008-02-10
The only thing that I hate about HSBC is that it takes FOREVER for them to report your info to a CB. It takes them 2-3 weeks to report your balance, limit, etc.
However, it is nice that they show pending charges. But it takes them 2-3 days to post your payment onto your account which is also annoying.
on 2008-02-10 The only thing that I hate about HSBC is that it takes FOREVER for them to report your info to a CB. It takes them 2-3 weeks to report your balance, limit, etc.However, it is nice that they show pending charges. But it takes them 2-3 days to post your payment onto your account which is also annoying.
Comment 6 by ash
Re: A Rod on 2008-02-10
Did you try to get a CLI from them yet? I'm going to look for a back door number for you! "Do not close this account!" Its weird because they normally are very generous with the increases and its wayyyy better that orchard. I'm going to look for a number for you then I'll check in...
on 2008-02-10 Did you try to get a CLI from them yet? I'm going to look for a back door number for you! "Do not close this account!" Its weird because they normally are very generous with the increases and its wayyyy better that orchard. I'm going to look for a number for you then I'll check in...
Comment 7 by ash
Re: Back Door on 2008-02-10
I found 2 numbers to try for a CLI, check your email messages...
on 2008-02-10 I found 2 numbers to try for a CLI, check your email messages...
Comment 8 by arod
To All Thank You on 2008-02-10
This response is appreciated thanks, and yes I Will keep it open But I wont use it that much.
Again Thanks to all for your comments any info. Also provide it here or email.
take care,
Alex
on 2008-02-10 This response is appreciated thanks, and yes I Will keep it open But I wont use it that much.Again Thanks to all for your comments any info. Also provide it here or email.
take care,
Alex
Comment 9 by markrivers
CL Is $2000 Yahoo! on 2008-02-13
Hi guys and gals!
just an update from my pre-approved IloveNY HSBC card which turns out to be a regular Platinum MC... Oh well that's the picture I'm seeing on the website, I knew I was approved but I don't know the CL given..
i checked with their website today... And with the chek application status... I was surprised it's 2000... Oh my GOd!
well for me that's huge...13 months ago I was lucky enough to be approved for a $500...
lessons learned here..
for the past 13 months, I paid ALL as in ALL of them 1-2w eeks in advance so even if there's a holiday... You have an allowance for that right!
can't wait for the card..
btw, my WAMU VISA just arrived...
i'm one happy camper! Wohoo!
on 2008-02-13 Hi guys and gals!just an update from my pre-approved IloveNY HSBC card which turns out to be a regular Platinum MC... Oh well that's the picture I'm seeing on the website, I knew I was approved but I don't know the CL given..
i checked with their website today... And with the chek application status... I was surprised it's 2000... Oh my GOd!
well for me that's huge...13 months ago I was lucky enough to be approved for a $500...
lessons learned here..
for the past 13 months, I paid ALL as in ALL of them 1-2w eeks in advance so even if there's a holiday... You have an allowance for that right!
can't wait for the card..
btw, my WAMU VISA just arrived...
i'm one happy camper! Wohoo!
Comment 10 by arod
Update Credit Limits $300 on 2008-02-14
Well thanks to all and specially to ASH I called HSBC and I said I was going to close there accounts because 2 cards that I have at $300 credit line each
customer service was very nice and she told me to give her the account I wanted to close and by the last digit she raise my credit line.
1st card $300 became $800 Hsbc
2nd Card $300 became $500 Orchard
Thanks Again, ASH
Alex
on 2008-02-14 Well thanks to all and specially to ASH I called HSBC and I said I was going to close there accounts because 2 cards that I have at $300 credit line each customer service was very nice and she told me to give her the account I wanted to close and by the last digit she raise my credit line.
1st card $300 became $800 Hsbc
2nd Card $300 became $500 Orchard
Thanks Again, ASH
Alex
Comment 12 by arod
Hjm331 on 2008-02-14
I called this number with orchard bank but it all HSBC
1-800-477-1024
for the credit line increase
on 2008-02-14 I called this number with orchard bank but it all HSBC1-800-477-1024
for the credit line increase
Comment 13 by markrivers
Good Strategy! on 2008-02-14
Good strategy guys! They don't want to lose you as customers that's why!
on 2008-02-14 Good strategy guys! They don't want to lose you as customers that's why!
Comment 14 by hjm331
RE: Mark on 2008-02-14
That's what I always try to do. It doesn't work with the big companies that don't need any customers that ask for CLI's.
on 2008-02-14 That's what I always try to do. It doesn't work with the big companies that don't need any customers that ask for CLI's.
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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.
