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No biggie, but HSBC decreased the cash advance limit

New Contributor

No biggie, but HSBC decreased the cash advance limit

I have a Plat. HSBC that used to have $1700 cash advance limit that was just lowered to $850.  My orchard was also lowered from $400 to $150.

 

I dont care about cash advances, but wanted to give a heads up!  My credit line is still good... thank goodness.  Dont touch that HSBC!!! 

Message 1 of 7
6 REPLIES
Established Contributor

Re: No biggie, but HSBC decreased the cash advance limit

I have 3 HSBC cards. The only one that had a cash reduction was the Direct Merchants Bank Card. $6250 cut in half The limit of 12k is still there. The other card is a GM issued by HSBC limit and cash is 16K and the HSBC Platinum Card is 6k, cash limit same
Message 2 of 7
New Contributor

Re: No biggie, but HSBC decreased the cash advance limit

I noticed the same thing on my HSBC card but like you I don't care about the cash advances (I just shred those pin numbers as soon as I get them).
Message 3 of 7
Senior Contributor

Re: No biggie, but HSBC decreased the cash advance limit

there have been a couple of recent threads.  here's another one:

 

http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&message.id=137158&query.id=30109...

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 4 of 7
Frequent Contributor

Re: No biggie, but HSBC decreased the cash advance limit

Mine was decreased from $300 to $75. The odd thing is that this was the first time I ever (in 12+ years) thought of taking cash out. My rent was due the other day and I was going to take out some extra $ then pay it off when I get paid this weekend. Oh well. Smiley Sad
-------------------------------------------
April 2009: TU 768
March 2009: EQ 671
February 2009: EQ 666
January 2009: TU 667 | EQ 620 | EX 669
December 2008: TU 651 | EQ 625 | EX 649
April 2008: TU 642 | EQ 636 | EX 635
November 2007: EQ 542


November 2006: EQ 501
Message 5 of 7
New Visitor

Re: No biggie, but HSBC decreased the cash advance limit

I have an HSBC mastercard, never late, $8500 credit limit, keep a revolving %10 balance which I pay off every month.  I have $658 on it right now and just logged in this morning to pay it off and my credit limit dropped to $560!!!!!  I called HSBC and I got a southeast asian man that couldnt answer my questions as to why it was lowered and no one told me, all he said is that it was a "business decision"

 

  Now Im $98 over limit which they said would not affect my credit and there are no fees applied but I expect to get screwed over this.  Of course Im upset and want to close it but this is my oldest account at 6 years old.  Closing my account with them isnt going to hurt them, no on will blink and eye but it will hurt me.  But I do plan on never using the card again knowing that my credit limit could drop at any minute for no reason.

Message 6 of 7
Senior Contributor

Re: No biggie, but HSBC decreased the cash advance limit

Several forum members have posted about this recently. I guess HSBC is feeling the effects of the crunch like every other CCC.
Here we go again...
Message 7 of 7