Credit Cards

HSBC Canada Credit Cards after RBC Buyout

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  • Dec 28th, 2022 5:18 pm
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Newbie
Jun 14, 2009
5 posts
1 upvote
Vancouver, BC Canada

HSBC Canada Credit Cards after RBC Buyout

I know nothing is 100% yet but Just wondering what everyone's thoughts are around the potential HSBC buyout by RBC. Think the HSBC Canada Credit Cards will still be around after RBC buyout or will they fold them into the RBC CC's and offer something similar or better?

If you have a HSBC World Elite CC what would be a good replacement with RBC or another provider?
13 replies
Deal Addict
Feb 26, 2006
4259 posts
2833 upvotes
Ottawa
They're gonna fck it all up I bet. Cards gone.. Branches gone.. It'll be a mess. It's too bad as HSBC was a good option.

Capital one left, edit Citibank cap 1 exists
MBNA left, edit. Died.

I feel like there was others who came and left.

Who was the Sears one from? Edit. Chase who left
Last edited by shylok on Dec 5th, 2022 9:44 am, edited 1 time in total.
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Dec 20, 2004
5490 posts
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Toronto
Knowing the greed of the Canadian banking cartel, they will almost certainly ruin this card. It would be awesome if RBC kept it forex free, but I don't see that happening.

Back to Brim for me.
Deal Fanatic
Aug 24, 2016
9421 posts
10680 upvotes
The Prairies
shylok wrote:
Capital one left
MBNA left


I feel like there was others who came and left.

Who was the Sears one from?
Huh? Cap1 and MBNA are both still around, however as we know, TD acquired MBNA.
Cap1 was never acquired and is still here (for now).
Chase issued the Sears cards.
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Jan 16, 2007
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May have been thinking of Citibank.
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Deal Addict
Feb 26, 2006
4259 posts
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joshnet wrote: May have been thinking of Citibank.
You're probably right lol.
Sr. Member
Jan 14, 2017
663 posts
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coolintheshade wrote: Huh? Cap1 and MBNA are both still around, however as we know, TD acquired MBNA.
Cap1 was never acquired and is still here (for now).
Chase issued the Sears cards.
Yeah, that is right, they are still "around", so to speak, but with no competive products. HSBC is the last foreign competitor running from Canada, alas. Now, the banking industry will be in the same anti-consumer position similar to the telecommunications industry, which is not good for Canadians unless you hold bank stocks.
Sr. Member
Feb 12, 2019
652 posts
178 upvotes
Vancouver BC
gei wrote: Knowing the greed of the Canadian banking cartel, they will almost certainly ruin this card. It would be awesome if RBC kept it forex free, but I don't see that happening.

Back to Brim for me.
Only major bank to offer no Forex is Scotiabank's Passport Visa Infinite and also their American Express cards.
Sr. Member
Dec 12, 2016
521 posts
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WayneW8682 wrote: Only major bank to offer no Forex is Scotiabank's Passport Visa Infinite and also their American Express cards.
For now…
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Mar 25, 2012
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Kelowna
amansb wrote: I know nothing is 100% yet but Just wondering what everyone's thoughts are around the potential HSBC buyout by RBC. Think the HSBC Canada Credit Cards will still be around after RBC buyout or will they fold them into the RBC CC's and offer something similar or better?

If you have a HSBC World Elite CC what would be a good replacement with RBC or another provider?
100% not, but RBC will likely offer some sort of credit card migration offer to an RBC World Elite, Infinite, or Platinum credit card.

Cheers,
Doug
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Mar 25, 2012
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WayneW8682 wrote: Only major bank to offer no Forex is Scotiabank's Passport Visa Infinite and also their American Express cards.
No. Home Trust Company offers a no annual fee, no FX fee Visa credit card. Brim Financial Inc. also offers the same. You do not need to be a bank to issue a credit card.

Cheers,
Doug
Sr. Member
Mar 25, 2015
852 posts
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dmehus wrote: No. Home Trust Company offers a no annual fee, no FX fee Visa credit card. Brim Financial Inc. also offers the same. You do not need to be a bank to issue a credit card.

Cheers,
Doug
Keyword is "major" so the guy isn't wrong. Top 5 largest banks in Canada aren't giving great deals on no-FX. Only Scotia, and its "acceptable" rather than "amazing".
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Mar 25, 2012
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dimon222 wrote: Keyword is "major" so the guy isn't wrong. Top 5 largest banks in Canada aren't giving great deals on no-FX. Only Scotia, and its "acceptable" rather than "amazing".
True, and I never said he was wrong. However, why is a no forex fee credit card being issued by a large Canadian bank an advantage? And, with only $200 million in outstanding credit card receivables, HSBC Bank Canada is hardly a significant player in the credit card space. I bet if I checked, Home Trust Company is larger in both cardholders and card receivables. :)

Wal-Mart Rewards MasterCard, issued by Fairstone Bank of Canada, has about $500 million-1 billion in card receivables last I checked, and is likely larger than HSBC MasterCard in terms of cardholders. So, as you can see, HSBC's credit card is a really tiny card competitor. Hardly worth anyone's time.

Cheers,
Doug

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