Great...just great! Is this going to turn into another Providian with interest rate hikes and closing of accounts? I sure hope not! L
Doesn't it say Household to BUY Finance Giant, not Household being BOUGHT? I am confused. I have a Household MC and Orchard Bank MC both with good limits and zero balance, I have never used them, I hope I don't get closed for no activity or something.
No, household's being bought. Dont think the deal's gone through yet though. If I knew of this, I wouldn't have signed up for the gmcard yesterday.... oh well. I had better refinance my auto with them soon though
No, HSBC is buying Household for 14 Billion, (and believe me, they are BIGGGGGG! I spent my honeymoon in Europe and Lord-have-mercy-Jesus, they were on every street corner, every train station, every tube and bus station, every airport, every newstand, even in the laudromats, hotel lobbies, theatre lobbies and even in the Louvre lobby in Paris!
Okay duh, lol. I thought HSBC was the abbreviations for Household back or course the C doesn't fit in there then, lol. Anyway, who is HSBC and what do their abbreviations stand for? Does this mean all Household accounts including Best Buy and stuff like that?
Well, it says HSBC is buying HOUSEHold International, so my guess is that means everything HOUSE owns, including Best Buy. The details don't mean, it but looks like HSBC wants everything.
Funny thing is, when I was in Europe, I seriously considered opening a foreign account with them (they encouraged it as did Harvey Nichols and Harrod's), just to see what it was like. But Hubby gave me dirty looks. Can't wait 'til he gets home!! Who has the last laugh now, eh!
HSBC is big here, too (upstate New York). I wouldn't mind having an account with them as they are definately prime, but I do not want to go through anything like Providian again and am rather gunshy as you might imagine! L
I have a GM Mastercard through HH that I just opened recently. So are you guys saying this is a good thing for us HH bank cardholders?
Well, it remains to be seen, but I have Orchard and son has GM MasterCard. For my money, I think I much prefer dealing with HSBC. (Household pulls dirty tricks like lowering your credit limit withou ttelling you if you don't charge for a couple of months. That not only tanks your scores due to lowering of debt/available credit ratios, but if you go ahead and charge above the new limit unknowingly...POW!!! They try to slam you with an over limit fee and raise your rates.) Nope, give me a reputable bank anyday.
So will the name change or will it still be HH? I have my car loan through Household Auto Finance - which stinks. Actually, I haven't had any problem but I have always been on time with my payments... but I am paying 11% interest which really stinks.
HSBC just wants to get a share of US consumer loans so they are doing it the lazy way of acquisition. I personally think it is a dumb move to take Household, who is very close to being in serious financial problems (4 billion of debt to pay off in the short term and high charge off risk). I think they should have taken Cap One which at least has some prime lending customers. I just got a HH card so Im wondering whats going to happen. Maybe I'll get a limit increase and a lower APR
hi, Cap One is stupid now a days. They will not give any limit increase. I have 2 cards with them for last 2 years and nver went over the limit and always pay the blance in full. last week they offer me 100$. That is very rude. akm
Re: Re: HouseHold being bought... HSBC stands for Hong Kong & Shanghai Banking Corporation. For a short history of the company, try this link: http://www.hsbc.com/hsbc/about_hsbc or this one: http://www.hsbc.com/hsbc/about_hsbc/group-history
Re: Re: HouseHold being bought... I just got a $2k Unionpluscard with marginal credit and I've been declined in past 6 mos for an HSBC account. Is there a chance I could be dropped or see an interest rate hike with this??
Re: Re: HouseHold being bought... Well, I'm an idiot... This thread was TWO YEARS OLD. Why the h*** would someone respond to it now?!
Re: Re: Re: HouseHold being bought... I guess it took that long to find out what HSBC stood for........LOL
