Editor's ChoiceCategories Credit Type Issuers Blog

Household Bank Credit Card Review


householdmastercardSummary – The Household Bank Platinum MasterCards is one of the better credit cards for those who have fair credit or even poor credit. Household Bank is actually owned by HSBC Bank, one of the largest bank in the world and Household Bank is one of the biggest players in the sub-prime space. Let us look at this card in further detail.

How it works – Unlike most other credit card offers, Household Bank actually has 5 card offerings. You will be offered one of the four cards based on your credit worthiness. Below are details of the five cards taken from their website.


Card Details – If you have no credit history or if your credit is poor, chances are that you will be offered a secured credit card. It has a very low APR at 7.90%, a $35 annual fee (which is waived for the first year). You have to deposit a minimum of $200 to get going for the secured credit card.

If your credit is better, you may get a Platinum card with different fee structures. At the higher end, you may get a card with no annual fee and a 0% balance transfer offer.

Verdict – If you have no credit or poor credit, then I think the Household Bank Platinum MasterCards is perhaps one of the best credit card to get. Most issuers who target at this segment charge outrageous fees and have ridiculously high APR. As an example, the tribute credit card from Compucredit has annual fees and monthly maintenance fees that exceed $200! And an APR of 25%!

The Household Credit Card has reasonable fees and APR because they offer a variety of cards with different fees and APR (including a secured credit card), you are highly unlikely to be turned down for this card. This card gets my thumbs up.

Household Bank MasterCard
Credit Limits 100% of bank deposit, $100-$15,000 – for secured card
Credit Agency Reporting Reports to 3 agencies
Card Benefits
Free Online Bill Pay
24 hour online access to account
Cost/Fees/Interest rates
Annual Fees $0 to $79
Application Fees $0 to $49 depending on the card
Purchase APR 7.90% to 15.90%
Grace Period 25 days
Balance Calculation Method Average Daily Balance (including new purchases)
Cash Advance fee 5% min $5.00 for Orchard Bank Cards
3%, min $15.00 for
Orchard Bank Prime Master Card
Over-the-credit-limit fee $29.00
Late Payment fee $29.00

Apply for the Household Bank Platinum MasterCards

February 24, 2010 @ 3:48 am

What a joke. This outfit wants to hit you with a $79.95 application fee? A $29.00 fee if you so much as one day late with your payment and another $29.00 if you go over your limit.
Household Bank Master Card is a piss poor excuse for a credit card.
Get an American Express. No app fee. Use it for a year with 0% interest then gett a Discover card, transfer the balance on your AMX for another year of zero interest.
Don’t fall victim to these sharks! If you do, You’ll end up in financial hell!
P.S. I’ve posted this message on a minimum of 15 websites and will continue to do so, until the card issuer (Household Bank MC ) cleans up thier act.

Grateful One
February 24, 2010 @ 3:53 am

Thank you No Fool!
You kept me from making a big mistake. I was surfing the web looking for Credit Card offers and found the comment you left just minutes ago. I’ll take your directions and put them in action. I don’t need some Credit Card eating up my hrd earned money!
Blessings to you.
Grateful One

March 12, 2010 @ 9:39 am

The worst experience I’ve ever had with a professional company, period. They charge you a “annual fee” which is about $60. The day I got my card in the mail I threw it away without activating it, but I had to pay the fee anyway. Then, after I had paid it they tried contacting me at work. Who does such a thing? I didn’t owe them anything! Worst credit card company ever. Do not waste your time with them.

May 8, 2010 @ 2:58 pm

I’m not sure this Bank is playing fair with their Credit Card Services, you must pay your credit card on time, you do it, you pay your balance in full, so they take up to 14 business day to apply your payment, up to 14 days they are using your money for whatever they want and you do not your payment applied, so your balance remains the same even though you made your payment on time or ahead of time. This is unfair, not sure if it is illegal what they are doing.

September 6, 2010 @ 10:11 am

I’ve had no problem with this card. Payments are easy to make on the website and the annual fee of $39 is reasonable

October 7, 2010 @ 8:01 pm

I have had no problems with this card. Lot of other credit card companies charge an annual fee, so I don’t see an issue when this Bank does the same. The point is to get this card and build better credit history/score. AMEX won’t give you a credit card if you have a limited credit history. Also, payments are easy to make on the website, and I was actually pleased with the customer service when I called to ask why my initial bill payment haven’t been processed yet. And no, I don’t work for the Household Bank. I am a foreigner and it was a pain in the neck to get any credit card because I didn’t have any credit history. Now, beside this card I also have a Capital One Bank credit card. They are both the same. Cheers, DL

    January 2, 2017 @ 7:04 am

    same here

October 28, 2010 @ 1:15 pm

After quite a few offers from other credit companies with outrageous charges and rediculous fees, I decided to go with this one. It does have a $49 annual fee, but that is not so bad considering my credit score is extremly low due to a recent bankruptcy. I decided to start using this card to pay bills with and then pay the balance in full each month to help rebuild my credit, but I cannot do that becasue the payment takes AT LEAST 14 days to process. It shows the payment as a pending charge on the account, which confused me because it was $1 less than the payment I made, so I contacted customer service to find out what the charge was for, and I got an email reply telling me that my new card was on it’s way with my new name!? I didn’t ask for a new card with another name. Then I called and all the rep told me was that it must have been a mistake and my payment was received and would be processed in 14 business days…..not the best experience. Would not reccomend this card.

November 28, 2010 @ 9:53 am

I have their 2% cash back rewards feature, but I don’t get it until after I have made contact a few times. I always get their bill on time but not my rewards check. Is anyone else having this issue?

Good Responsibility
December 21, 2010 @ 11:59 pm

I’m notan Idiot, you are an idiot. The real point of this credit card is not for people who has great credit and can go get AMEX or Discover or other no fee cards that have intro APRs. Besides, the point behind credit cards is simply to have the ability to spend money that you do not have with the promise of paying that money back. Most responsible people will use a card only when necessary and then pay off as much as possible of that card balance before interest accrues. If you just keeping a running balance and then jumping ship from one card to another in order to take advantage of intro APRs and other promos then you really must be an idiot. First off, intro APRs are only good for people that intend to keep a running balance. Key word here is “intend”. Most of us with bad credit know the sting of not having funds available. So when we get a credit card to be responsible with our credit and rebuild credit scores we do not “intend” to keep a running balance.
People who “intend” to keep a running balance are people who know they will be spending more than their income. That is a bad financial move right there. Sure you can just jump ship and transfer balances a few times, but eventually it catches up with you and you wind up with thousands of dollars in debt.

As for me, I am not in debt except for medical bills. I have lived by the idea that I do not buy something if I do not have the money. I am getting a credit card, after years of avoiding them, simply to prepare. I want to have funds available for when I need them and have unfortunately circumstances come up. I also want to have small balances that charge and then pay off every single month before any interest hits.
My spouse and I actually work hard to provide for ourselves and our kids. My wife and I average around 53000 a year in income. We make sure that no matter what we buy we either save for it, or we dont get it. However, after buying a new car and paying on time regularly my credit is finally good enough to get this card. My wife’s is not there yet but hopefully soon. I am glad we are doing so, cause we just had one of those unfortunate expenses when my kids spilled soda on my laptop and we need to pay 421.88 for repairs. Thats something to use a card for….not for buying a 52″ plasma tv because you just cant stand using your 46″ one.

I used to be a credit card collection agent for a number of years, and worked for one of the leading card companies out there. I wont say who but they were in competition with bank of america and chase. for the top three card issues in the nation and possibly world.
The truth is that most people are rather poor as balancing their income and expenditures. Months after katrina hit I had people buying large HD tvs and other uneccesary things just so they could try and call in and take advantage of a program we had set up for katrina relief efforts to help people affected by the storm. I also had people doing things like putting 8000 cars on their credit cards, and so on. The bank I worked for did not even charge over the limit fees but reserved the right to. We tried to help people out and the people who were willing to work with the company got some pretty cool deals. Others who were assholes got their cards cancelled. People would threaten me with “if you dont wave this fee, then I want you to cancel my card” I would just say “ok, I have cancelled your card, now lets talk about the five months your past due”. Then the person would get shocked that I called their bluff and get all nice and try to get me to reopen their card, but once I closed it the card stayed closed because it was marked as permanent irreversible closure. They would have to reapply for a new card after they brought their balance up to date. Now the people I said got good deals by working with the company we would waive fees for, set up on five year plans with no interest, and so on. We bent over backwards for the people that wanted to work with us.

The point of my ramblings here is that you have to be responsible with your cards and while there are definitely some very disreputable companies out their dealing out cards, there are far more disreputable people willing to give companies a bad name and make the company take the blame for their mistakes. THe household card is not a platinum end to all worries kind of card. It is a rebuild your credit by taking it in the wallet kind of card. The good thing is that household cards are by far better than most other cards in this category. For example…one card charges you a 125 setup fee, with 29.99% APR calculated daily with no grace period to avoid interest. Just from the start of the card you are paying over 10 bucks a day in interest just for the fee until you pay it down. In one month thats over 300 bucks.

So Mr. Idiot who tries and call himself nota idiot….please dont be one of those consumers shops are opne store to buy a tv and then throws a hissy fit cause the same tv is a penny cheaper at a different store. You are a poor consumer with little intelligence behind what you do financially. I applaud those trying to rebuild their credit and hope that they dont get stuck in bad spots with disreputable cards, but for all the harsh terms and fees for “bad credit” credit cards out there, the household and other HSBC bank cards are really not that bad. You just keep racking up those thousands of dollars in bills you will never pay off until you run out of introductory APR banks to apply for….while we on the responsible end of consumer purchasing actually try and make the consumer world better.

Worst Experience
December 23, 2010 @ 5:14 pm

Please let me know on where to file a complaint or legally take action on issuing a platinum master card annual charge without my authorization. I received a pre-screened credit offer in my mail and wanted to just check on it..so I called the number 1-800-375-5894. While I was in discussion with the agent to know on the card details, he got my social and immediately went ahead, saying the credit card is processed and annual fee would be applicable. What a cheating…and now I received an annual fee of 49$. I never received the card or used it..

The only mistake I did was speaking to agent and 49$ annually fee. I’m not sure what to do now.

January 28, 2011 @ 9:44 pm

I am a sub-prime candidate that recieved an offer for this card this past December. I applied, and recieved a card with a low credit limit ($300) and a $59/year fee. I believe there was also a 0% APR for an introductory period.

The first “month” ended just before Christmas, and included only the yearly fee because it came before the card itself. I paid it in full, which included interest already! I, however, just shrugged that off as a roundabout through some crazy disclosure (ie, the introductory APR applied only to purchases, etc). I paid it, then happily, though hurriedly, bought last-minute Christmas gifts for my family on this card. I then patiently waited for the next billing cycle to begin so I could pay it off, as I had allocated funds from my first check in January to pay the amount.

I made my payment last Thursday. My payment left my bank account overnight on Sunday. It is now Friday night, and I still had a suspended “pending payment” despite recieving an email congratulating me on my successful payment on Monday afternoon. I figured it was just their computer systems needing 3-5 business days to update, so I patiently waited. I called today, Friday, at the earliest possible time I could, which was 7:45 pm EST. I played the waiting game on their phone system, then finally talked to a foreign CSR. She circled through some random scripts until I frustrated her. All I want is to use my card 5 days after they processed my payment! She passed me along to her supervisor, who told me that their payment center closed at 8pm EST so there was nothing I could do to get use of my card tonight, and if he, or his supervisors, or any other employee in their company attempted anything before 11amEST tomorrow morning, then I risked not having my card to use for another full week.

I find that all to be unacceptable. I suspect that had I made just a minimum payment, they wouldn’t have done this to me. So I have cancelled my account and now plan on using credit services elsewhere, perhaps through Capital One, American Express, or some other Mastercard/VISA merchant. I highly suggest you make the same choice, if you wish to avoid being penalized for repaying your debt in full each month.

"unvalued" customer
February 3, 2011 @ 12:44 pm

Like every other company, they say, “We value our customers.” But really, I found that HouseHoldbank really only “value’s” (if you want to even use that word) when you pay their annual fee, use their card at least once every 3 months, or they will decrease your credit limit just because they can, and still charge you or just simply close your account! My account was closed when I had almost $25 to redeem because I haven’t used my cc in 6 months. Conveniently they didn’t have to pay me the $25 because they closed my account due to inactivity. When I called and said I was going to close my other Household bank card, and my husband will too, the person on the phone said, “that is your decision, but we are one of the largest institutions and you are 2 people.”

February 24, 2012 @ 11:12 pm

I’ve had this card for 15 months…initially got a pre-approved offer in the mail. I’ve had irresponsible experiences in the past that I’m still paying for, and was glad to have received the opportunity. I completed the application online and was approved for the initial credit line of $300 after having to call in and verify information.

No complaints so far. I use it for small purchases (like coffee and lunch during the week) and pay off the balance (at least 85-90% of it) every month. Rate is reasonable at 14.99% and the annual fee is okay at $59, though some people on the better end of their scale (high 500’s to low 600’s) may qualify for a card with 8% rate and lower annual fees.

A picture of the Brooklyn Bridge is on the card, which is pretty cool. Payments made online post 1 to 2 business days after funds are withdrawn from your account.

Have had two modest credit line increases of $100 each, one at 6 months and another at 12. We’ll see if I get another one at 18 but if not, I’m not gonna sweat it.

Haven’t really had to call Customer Service much but the couple times I did call, I always got friendly representatives who were able to answer any questions or solve any issues I had.

March 7, 2012 @ 11:03 pm

6 and a half weeks ago i applied for 200 dollar secured card from household bank ” 6 weeks ‘ didnt hear anything after the first 2 weeks so i called they needed more documentation . did not bother to call me to let me know !!! so i sent what they requested , with a money order for 200.00 .called bac1.5 weeks later to see status was in review told me to wait another week . i waited 2 more weeks and called again , and they said it was still in review !!! really ! ? review for WHAT ? they have had my money forover three weeks and cant tell me anything than its in review , and to call back in a week and a half , what a joke . its real simple I SEND THE APP AND THE MONEY AND THEY SEND YOU THE CARD . NOT WITH THIS BANK SO I TOLD THEM I WAS TRYING TO BUILD MY CREDIT TO BUY A house and thats why i needed the card , not in 2 or 3 or 4 months after having my money. soi told them to send my money back and they said they were going to cancel it then hung up on me . and i called back and they were closed so i dont know whats going on , but i am contacting the BBB and going to apply for a card somewhere else . THIS BANK IS A JOKE , STAY AWAY !!!!!!!!!!!!!!


Leave a Reply

Your email address will not be published. Required fields are marked *


Privacy Policy Terms and Conditions About Me Disclosure Contact Me

Newsletter Sign Up