NEW Household Bank 2% Cash Back MasterCard (BEST EVER?!?)

All about maximizing your rewards!
Members share tips and tricks for getting the most miles, & points.
12 posts
chiucifer
 
Posts: 1
Joined: Wed Jul 20, 2011 2:14 am
Location: Texas

NEW Household Bank 2% Cash Back MasterCard (BEST EVER?!?)

Postby chiucifer » Wed Jul 20, 2011 2:23 am

I recently read read about the NEW Household Bank Cash Back MasterCard. Although it was targeted at people with bad/mediocre credit, the rewards were very enticing: 2% cash back on all purchases. The annual fee is between $0 or $39, depending on your credit.

So that begs the question, could this possibly be the best 2% credit card out there? (Not including the sign-up bonuses some credit cards have) Capital One Venture Rewards offers 2%, but theirs has an annual fee of $59. Fidelity AMEX and VISA both offer 2% back, but you would have to sign up for fidelity. The only one that I can think the Schwab card but alas, that card has been discontinued for new customers.

Any feedback?


CCG
Centurion Member
Centurion Member
 
Posts: 151
Joined: Thu Apr 17, 2008 6:52 pm
Location: Austin, TX

In response to the above post and your private message

Postby CCG » Wed Jul 20, 2011 3:19 am

Don't worry, a review will be posted shortly! HSBC just relaunched this 2% card on July 7th and it has been on the to-do list for a review since then. Expect to see it by next week. This 2% card was offered a few years back and it is nice to see HSBC has brought it back from the dead.

UPDATE: The new Household Bank credit card review is now up. Check it out!

Money card
Centurion Member
Centurion Member
 
Posts: 1361
Joined: Tue Jun 28, 2011 10:13 pm
Location: New York state

Postby Money card » Sat Jul 23, 2011 11:30 pm

unless you shop at Neiman marcus store or costco I would think your Mastercard which gives cash back of 2% sounds like a very nice card.

Do you travel on business, can you afford in this economy to spend to get a credit card?
I would say you have a very nice card. If you have it, what do you think about it? If you don't have it would you still be interested in applying for it?

DarrellEW
Gold Member
Gold Member
 
Posts: 32
Joined: Mon Jan 17, 2011 12:26 pm
Location: San Antonio, TX

Postby DarrellEW » Sun Jul 24, 2011 11:55 am

I've heard that they give extremely low credit limits, sometimes less than 10% of what you would get from Chase/Citi/Discover/etc.
So if you're planning on using the card to pay rent or buy expensive appliances or anything like that where you'd need a higher credit limit, you might want to pass on this card.

ooxs
Centurion Member
Centurion Member
 
Posts: 304
Joined: Sat Aug 13, 2011 9:38 am
Location: Michigan

Postby ooxs » Sun Aug 21, 2011 11:38 pm

I applied for this card and was approved for 500 or 600 dollars but with no membership fee i kept it. They regurlarly gave me credit increase at by the start of the credit crunch i was at 3000.00. The past two years total credit increast was 500 but i still use it. Aditionally the APR was originally 9.99% but that all changed.

User avatar
Mogul of Pineapples
Centurion Member
Centurion Member
 
Posts: 1271
Joined: Sun Jun 01, 2008 11:32 pm
Location: Smogland

Postby Mogul of Pineapples » Thu Aug 25, 2011 2:26 am

ooxs - Thanks for providing your experience. First review I have seen since the re-launch of that card.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

krismanten
Green Member
Green Member
 
Posts: 9
Joined: Thu Dec 02, 2010 10:57 pm
Location: tennessee

Postby krismanten » Fri Aug 26, 2011 1:56 pm

i currently have a perkstreet card that pays 2%, but you have to have at least 5000 in your account. im looking to change to this card maybe but ive had 2 inquiries this year, one approval from discover and one turned down from chase. does this card require a hard credit pull? i dont like the idea of having more than 2 hard pulls per year.

ooxs
Centurion Member
Centurion Member
 
Posts: 304
Joined: Sat Aug 13, 2011 9:38 am
Location: Michigan

Postby ooxs » Sat Aug 27, 2011 9:20 am

If this card is still offered by Household bank i strongly recommend it. I have mine or maybe i was grandfathered but initially my household card was just the standard card with about 39 - 59 dollars of membership fees. When i received the invitation and applied i was declined, however i was lucky or successful in convincing them to reconsider my application and approved for a lower limit. Total rebate i received on this card considering the small credit limit is about 250.00, not bad considering my credit score was 566 and no one can offer me a card with no AF. With no AF and a cash back balance of 23 dollars, this is a keeper for me

User avatar
Blue Moon
Green Member
Green Member
 
Posts: 13
Joined: Sat Feb 26, 2011 6:01 am
Location: SC

Postby Blue Moon » Sat Aug 27, 2011 7:35 pm

I'm curious as to what will happen with this card when Cap One eventually takes over HSBC. It would directly compete with Cap One's new Cash Rewards card (offering 1.5% cash back on all purchases - 1% at time of purchase and .5% on the anniversary of the card). I wonder if Cap One will just eliminate this card.

krismanten
Green Member
Green Member
 
Posts: 9
Joined: Thu Dec 02, 2010 10:57 pm
Location: tennessee

Postby krismanten » Sat Aug 27, 2011 10:20 pm

i didnt realize that cap one was taking this card over. i got approved last year for a cap one secured card, and i pre qualified last night for a secured hsbc card. if i did decide to get this card and cap one did take it over, would they not have to take one of these cards away from me or combine them into one card or something? maybe it isnt worth all the trouble.



Return to “Rewards”

Who is online

Users browsing this forum: No registered users and 1 guest