Household HSBC Watch

The announcement that CompUSA is closing 126 stores signals another troubled merchant in the HSBC credit card private label program. HSBC Finance Corporation, which is also involved with troubled sub-prime mortgages, provides the CompUSA credit card. As customers complain about poor credit card servicing some experts maintain HSBC is responsible for CompUSA customer […]

HSBC Bank Nevada, N.A. issues Neiman Marcus and the Bergdorf Goodman private label credit cards, each of which allows you to charge purchases from The Neiman Marcus Group, Inc. (“Neiman Marcus Group”), which includes Bergdorf Goodman, Inc., and their various affiliated companies. These companies have been added to the merchants list at Household- HSBC […]

HSBC - North America’s retail services business today announced it has formed a strategic alliance with electronic payment network operator Debitman Card, Inc. to accelerate growth in Debitman’s debit card platform, known as “The Retailer’s Network.”

About Debitman
Debitman created and operates the Retailer’s Network, the only national, interoperable electronic payment network for retailer-issued debit cards. Founded […]

Boscov`s Department Stores, based in Reading, Pa., has agreed that HSBC-North America`s retail services business will run its credit program.

BDS customers will continue to accrue purchase points and enjoy other features of their existing Boscov cards, BDS said Thursday. BDS is the largest full-line, family-owned independent department store in the country, operating 40 stores in […]

North America’s retail services business (NYSE:HBC) has extended its long-term agreement with Art Van Furniture to provide a private label credit card program. Ranked 12th in Furniture Today magazine’s “Top 100 U.S. Furniture Stores,” Art Van operates 29 stores in 28 cities throughout Michigan.

Since 1980, HSBC and Art Van have partnered to offer Art […]

CHARLOTTE — Belk, Inc. has entered into an agreement to sell its private label credit card business to GE Consumer Finance, the consumer lending unit of General Electric Company (NYSE: GE). As part of the transaction, Belk and GE Consumer Finance will also enter into a long-term marketing and servicing alliance with an initial […]

A new Household - HSBC Watch poll asks people to rate their HSBC-backed credit cards. HSBC provides private label cards such as the Best Buy Stores card, sub-prime Orchard Bank and Household Bank cards, and many more. If you have an HSBC credit card or a private label card serviced by HSBC we […]

Typically the introduction and maintenance of a private-label card is more of a financially driven decision that means lower credit processing fees and more money made off of each transaction. A review of merchants in the HSBC Finance Corporation Household International private label card program indicate many are in financial trouble. The decision to […]

“I have seen other companies pursue this strategy in the past, but I see it at a decreasing rate,” said Gary Hawkins of Hawkins Strategic. “It seems fewer are pursuing private-label credit cards today. Retailers just have not seen the relationship return from it.” “Private-label credit cards rarely capture more than 10 percent of […]

HSBC USA, the immediate legal parent of HSBC Bank USA, said fourth-quarter profits fell 27 percent, driven entirely by the accounting costs of transferring credit card loans and customers with an affiliate company. The bank reported earnings of $196 million, down from $269 million a year ago. For the year, profits similarly fell […]