"Unsure"
Direct Rewards Platinum® Review
Written by: bigblue on 2008-12-15
Overall Satisfaction
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bigblue's review: 
Was Approved for this card $300 limit $29 fee have heard good and bad have cap 1 $ 1,750 limit now thanks to the forum knowledge thanks scores are 650s.
Was Approved for this card $300 limit $29 fee have heard good and bad have cap 1 $ 1,750 limit now thanks to the forum knowledge thanks scores are 650s.
5 Comments
Comment 1 by bigblue
Unsure 
on 2008-12-15
Should I keep this card for a sock or just get rid of it low limit and fee is it a better card than cap 1 thanks sorry forgot to add this in my review would not go back thanks
on 2008-12-15 Should I keep this card for a sock or just get rid of it low limit and fee is it a better card than cap 1 thanks sorry forgot to add this in my review would not go back thanks
Comment 2 by charonh
Just Sockdrawer It! on 2008-12-15
Since you have the inquiry, I wouldn't close it at this point. Others in the forum have been successful at getting annual fees waived or reduced with HSBC, so maybe you should give them a call and see what can be done. Either way, don't close it. Good luck!
on 2008-12-15 Since you have the inquiry, I wouldn't close it at this point. Others in the forum have been successful at getting annual fees waived or reduced with HSBC, so maybe you should give them a call and see what can be done. Either way, don't close it. Good luck!
Comment 3 by colonative
Keep It For Now on 2008-12-15
Keep it for a year, then if your scores are near the upper 600's this time next year go for the real Discover and if approved, kick this one to the curb, HSBC won't do much for you.
on 2008-12-15 Keep it for a year, then if your scores are near the upper 600's this time next year go for the real Discover and if approved, kick this one to the curb, HSBC won't do much for you.
Comment 4 by jake9999
Mixed Feelings on 2008-12-15
I have mixed feelings about this card. As far as should you keep it, I guess I would have to say no. That's kind of a large annual fee for a $300 limit. This card was my first card and it did open doors to tier one cards by having them report the good account history. Since you already have a Capital One who is doing the same, I am not sure you really need this card. Expect to keep your $300 limit until you close the account as you'll likely never a credit line increase. I haven't had any luck getting my annual fee removed, though mine is only $19 so I really don't have a problem paying it. It's not a bad card overall. It's a self-service card. Asking a question via the website can take weeks to get a reply!
on 2008-12-15 I have mixed feelings about this card. As far as should you keep it, I guess I would have to say no. That's kind of a large annual fee for a $300 limit. This card was my first card and it did open doors to tier one cards by having them report the good account history. Since you already have a Capital One who is doing the same, I am not sure you really need this card. Expect to keep your $300 limit until you close the account as you'll likely never a credit line increase. I haven't had any luck getting my annual fee removed, though mine is only $19 so I really don't have a problem paying it. It's not a bad card overall. It's a self-service card. Asking a question via the website can take weeks to get a reply!
Comment 5 by brian23
If The Card Is Through HSBC.... on 2008-12-15
You can get a portion of the annual fee removed. I did it with my Best Buy Mastercard and I got them to knock off over half of my annual fee. When you get the card in, call them up and tell them you want to cancel the card because of the annual fee and low CL. You have to be stern about it, and you should be able to work some majic. If you don't feel comfortable doing it, than you should just sockdrawer the card and use it sparingly while PIF every month. Don't give those cheapo's another dime of your money with that high AF and interest on the card every month.
Just a thought...
on 2008-12-15 You can get a portion of the annual fee removed. I did it with my Best Buy Mastercard and I got them to knock off over half of my annual fee. When you get the card in, call them up and tell them you want to cancel the card because of the annual fee and low CL. You have to be stern about it, and you should be able to work some majic. If you don't feel comfortable doing it, than you should just sockdrawer the card and use it sparingly while PIF every month. Don't give those cheapo's another dime of your money with that high AF and interest on the card every month.Just a thought...
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Disclaimer: This content is not provided by Direct Merchants Bank. 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 Direct Merchants Bank. Review content is powered by Finance Globe.
