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!
HSBC seems to treat their different card holders well...different. When you first get their lower level cards (is there such a thing? ), 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.
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.