HSBC (Orchard Bank/Household Bank) recently made the decision to pull their credit card offers from the affiliate marketing channel. Effective Wednesday, December 10, all HSBC offers will be removed from iCommissions. The website said “Since these offers make up a substantial portion of many of our affiliates’ poor credit sections, we would like to offer some alternative top-quality cards to use as a replacement.” This news tells you something about HSBC Finance. As bad as the economy really is HSBC still takes a risk by issuing credit cards with a $300 credit limit. Why don’t they send this business to HFC or Beneficial?
HSBC credit cards paid some affiliate marketers a very nice bonus. How was that possible? Did HSBC package these receivables as commercial paper, and what is the collaterized state of food that is already eaten and gasoline that is long gone? Time will tell, but a $300 credit limit with a $99 application fee does not seem to fit the profile of HSBC. With recent turmoil in the United States it is hard to tell what the actual business plan is for HSBC.
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