HSBC Platinum Rewards Mastercard CLI

Anonymous · ‎11-27-2015

I know this is not a popular card around here as i never hear or read of them but I have had one forever. Do any of you that have one, have you been succesful in getting a credit limit increase?

I was not going ot mess around with any more of my credit but in today's mail came some checks (0%apr till December 2016 4% fee) and I decided to hit the CLI button hoping I could get an increase. Right now i'm at 2800$ limit, about $500 used but that will be paid off with Monday's paychek. I was hoping to be able to move my Amex balance to this card $6+K because I can seriously dent it over the next year and get it paid off by then but i got the my cli needs further review, I will hear back from them in 5-7 days.

What chances do I have? I was thinking of waiting it out and calling if its a not because by 5-7 days the balance would be 0 on the card. For me the HP is worth not paying interest for a year!

Imperfectfuture · ‎11-27-2015

If you are using over 50% of your amex balance, no one is likely to increase credit limit.

Signature needs updating

Anonymous · ‎11-27-2015

I've gotten 2 in the last month along with 3 new cardz, so i dont think it's totally improbable

FinStar · ‎11-27-2015

HSBC is pretty conservative with CLIs unless you're a pretty well-established client or have any of their Premier products. If your profile is in excellent standing, then by all means go for it.

Anonymous · ‎11-27-2015

Ok thanks, that's more along the liens of what I wanted to know. I have been with them for a while and have an online saving but nowhere in the way of premiere. I guess what's done is done. I alredy hit submit I guess I'll wait for my no lol

FinStar · ‎11-27-2015

@Anonymous wrote:
Ok thanks, that's more along the liens of what I wanted to know. I have been with them for a while and have an online saving but nowhere in the way of premiere. I guess what's done is done. I alredy hit submit I guess I'll wait for my no lol

Well, at some point or another, abscence of any other data points out there just gotta bite the bullet. Hopefully your outcome is positive with the HP. I'd be curious to see how it turned out as I'm sure it would help others with your experience doing this.

Anonymous · ‎11-27-2015

I will make sure and report back whatever the outcome is. It's so hard for this card since there's not a lot of chatter about it out there. I'm also assuming hard pull, I will update once I see what they do.

FinStar · ‎11-27-2015

@Anonymous wrote:
I will make sure and report back whatever the outcome is. It's so hard for this card since there's not a lot of chatter about it out there. I'm also assuming hard pull, I will update once I see what they do.

Sounds good OP. The only forum member that comes to mind that has a card with HSBC is Ron1. However, I don't know which exact product he has, but I think his CLIs appeared to be generous, IIRC. I used to have a couple of cards with them a long while ago but I eventually closed them (one of them was being phased out anyway). Their growth were really unpredictable but only 1 card was earning rewards before the program and the card were phased out altogether.

Anonymous · ‎12-15-2015

So I got my letter and of course like I suspected since I didn't see it pop up on my account, the CLI was denied. The first two points make sense, one says numebr of recent inquiries, between the 3 new cards and the one BOA cli, yes i have had a bunch in the last month, second one says too many accounts opened in the last 6 months. OK i will give them that. The last one is the one where I guess i might as well not bother anymore, the last point for denying the cli says: This account is currently set at the maximum allowable credit limit under our current credit policies.

So not sure if that is becuase I am not a premiere banking customer, i have a regular hsbc online savings, if its my personal limit they have imposed based on my income or really thats they most they give. So I will probably try agian in 6 months or so maybe but i really wanted it now to do the BT. Either way, I think I am going to BT almost to full util because it will save me a bunch from the Amex and that way I can get the amex paid off in like 6 months. I don't particularly care about taking a hit on the CS for the high util. I am trying ot pay everything off and I need to be saving money doing so lol

so there are some points, hopefully someone else on this forum has this card and can provide other data.