Union Plus Credit Card Benefits to Continue

Holders of Union Plus Credit Cards should not see any immediate changes to the card’s program or features following the recently announced sale of HSBC’s $30 billion credit card portfolio to Capital One.

The Union Plus Credit Card is issued by HSBC’s Card and Retail Services and provides unique benefits for union members, including special hardship protections for members facing financial hardship due to job loss furlough, disability, disaster, strike and high hospital bills. The sale is subject to a variety of government and regulatory approvals and is not expected to be completed until the second quarter of 2012.

“We expect that our contract provisions and protections for the program will continue with Capital One,” said Union Plus President Leslie Tolf.

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