Frequent Contributor
Posts: 309
Registered: ‎04-07-2008

Crazy HSBC CLI fee!!

I decided to see if I pre-qualified for a HSBC rewards card, so I checked on the site. Anyway I didn't qualify for rewards card, but for the platinum MC.
I almost took the plunge until I read this little gem in the disclosures:
Credit Limit Increase (CLI) Fee: If requested and approved, a CLI fee of up to 50% of the CLI may be charged to your Account, depending on your creditworthiness.
Wow.  Half of the increase as a fee, that reminds me of my Applied Bank card(which is about to die, BTW!)
Anyone else see this on a HSBC card?
Established Member
Posts: 43
Registered: ‎04-14-2007

Re: Crazy HSBC CLI fee!!

They are not really easy on giving cli but this charge is absurd. Never heard of it before!
Established Contributor
Posts: 510
Registered: ‎04-20-2007

Re: Crazy HSBC CLI fee!!

the only luck i have had with a CLI with HSBC, is to threaten to CANCEL the card.
But, it has worked every time.....
Frequent Contributor
Posts: 258
Registered: ‎06-03-2008

Re: Crazy HSBC CLI fee!!

[ Edited ]
Yes, this goes with any HSBC card, I have the Best Buy Reward zone thing. I asked one of the reps about this one time and she said "oh no, that would seem like it would be illegal ". then I told her where it said that and she said" it was for legal reasons but they don't actually do it". YEAH RIGHT!! I wasn't about to find out.

Bottom line, HSBC's credit card division is a pure suckfest. If you get the card, just use it for rebuilding, never care about the limit. That's what real cards are for. Don't even threaten to cancel or whatever, they may take you up on it and there goes your rebuilder card. Just sock it away and put your newspaper subscription on it or on of your monthly CR's.

Even my Imagine Card went from $75 to $800 in a little over a year (then got rid of it)

HSBC is a shoddy corp. , and I don't care if they have a million banks in NYC!

Now let me tell you how I really feel....:smileyhappy:

Message Edited by Jubeyy on 08-02-2008 02:24 PM
Frequent Contributor
Posts: 456
Registered: ‎07-09-2008

Re: Crazy HSBC CLI fee!!

HSBC seems to treat their different card holders well...different. When you first get their lower level cards (is there such a thing? :smileywink: ), they sometimes expect you to pay for requested CLIs.

When you "graduate" up to their better cards with no annual fees and lower interest rates/rewards, they are much more "agreeable" about requested CLIs. Just my experience with them over the years. They are definitely a company you have to navigate carefully for success. Just my two cents and YMMV.
Established Member
Posts: 51
Registered: ‎07-01-2008

Re: Crazy HSBC CLI fee!!

I have two of their cards.  Got them both last year around the same time.  I got brave
the other day and called and ask for CLI.  On the first one, they gave me a whopping
$200 and no fee for CLI.  Then, I called back on the second one and they also gave me
$200 CLI but charged $20 fee to my account.  Not sure why I got charged on one but
not the other.  They one I got charged on is supposed to be the better card of the two
and has the higher limit and lower APR.  Go figure.  They are weird.  I felt lucky to get
the $200 though from what I have read about them on this board.
Valued Contributor
Posts: 1,989
Registered: ‎08-17-2007

Re: Crazy HSBC CLI fee!!

They are tough.
Valued Contributor
Posts: 1,185
Registered: ‎03-04-2008

Re: Crazy HSBC CLI fee!!

They are nuts...
Why would anyone want to follow in the footsteps of Providian? WHY?
This practice is financially unsound, unethical and should be illegal. Maybe someday soon it will be. First they charge you for a CLI and then either ratejack you if you use it -or- close your account if you don't. No offense, but screw 'em.
Frequent Contributor
Posts: 309
Registered: ‎04-07-2008

Re: Crazy HSBC CLI fee!!

Yeah I agree. I decided not to get an HSBC card after all. I got enough to worry about with Cap 1 and Wamu. We'll see if I try later when I qualify for one of their "better" cards.

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