topic Re: HSBC Prequalify in Credit Cards

HSBC Prequalify

Anonymous — Mon, 29 Sep 2008 16:10:01 GMT

Good morning i went to the HSBC website and they said I pre qualified for the HSBC 2% cash back visa card. How good are they about honoring their prequalify info? I really would like to have another card. I only have one cc BOA 99/500. Your opinions would be greatly appreciated.

Re: HSBC Prequalify

Creditaddict — Mon, 29 Sep 2008 16:13:06 GMT

unless you have had an account with them in the past, I think they are pretty good about honoring them. My friend was pre-qaul last week and then was declined, but it was a bad offer and he had a bad past account with them.

Re: HSBC Prequalify

Anonymous — Mon, 29 Sep 2008 16:15:51 GMT

Do you know who they pull?

Re: HSBC Prequalify

Anonymous — Mon, 29 Sep 2008 16:36:43 GMT

i went ahead and applied it stated that I was approved. I also paid the processing fee. Does that mean I was approved for the card?

Re: HSBC Prequalify

Anonymous — Mon, 29 Sep 2008 16:45:39 GMT

from what ive seen, once you pay the processing fee, you are pretty sure the card is yours...however i do know they dont like you to have more than 1 card...i have an orchard with them,. good standing for over 2 years now. i prequalified for one of their hsbc cards, said approved then sent me a letter of decline due to having teh orchard already....stated we are not allowed to have more than 1 card. Unless they sent you a preapproved mailer...their words, not mine...not sure how the mailer is different from a second card approved for online, but who knows....

Re: HSBC Prequalify

Anonymous — Mon, 29 Sep 2008 17:28:59 GMT

@Anonymous wrote:
Do you know who they pull?

EX religiously.

Re: HSBC Prequalify

Anonymous — Mon, 29 Sep 2008 18:02:20 GMT

Everytime i go to the website to check my application status is says

Your application has been approved. We are in the process of validating your funds.
Your card will be sent within 10-14 days.

But when I call it states that my application is still being processed.I just want to know my credit limit.

Re: HSBC Prequalify

Anonymous — Mon, 29 Sep 2008 18:04:58 GMT

@Anonymous wrote:
Everytime i go to the website to check my application status is says
Your application has been approved. We are in the process of validating your funds.
Your card will be sent within 10-14 days.
But when I call it states that my application is still being processed.I just want to know my credit limit.

Validating your funds? Happen to have any idea what that might mean?

Re: HSBC Prequalify

Anonymous — Mon, 29 Sep 2008 18:08:23 GMT

Yes I know what that means. But I just want to know the Limit. I have called some of the HSBC numbers. And no one can tell me anything. Maybe I should just wait a day or two.

Re: HSBC Prequalify

Anonymous — Mon, 29 Sep 2008 18:10:09 GMT

Is it for a secured card?

Re: HSBC Prequalify

Anonymous — Mon, 29 Sep 2008 18:11:58 GMT

No it is for the HSBC 2% Cash back visa

Re: HSBC Prequalify

Anonymous — Mon, 29 Sep 2008 18:16:28 GMT

I'm confused on why they would need to validate funds for a normal CC.

Notwithstanding my previous statement, they'll probably know in a day or two if you want to call back later like you stated.

Re: HSBC Prequalify

first48 — Mon, 29 Sep 2008 18:24:31 GMT

goodgirl, I was approved for one of the cards similar to yours. Give it a day or two to get into the system and you can call customer service to get your limit and to see whether or not you have an annual fee. After I applied for other cards and got approved I canceled immediately with them because an annual fee of 59.00 on a 300.00 wasn't worth it to me. Just try back tomorrow or tuesday.

Re: HSBC Prequalify

Anonymous — Mon, 29 Sep 2008 18:30:01 GMT

I paid the $19 processing fee.

Re: HSBC Prequalify

first48 — Mon, 29 Sep 2008 18:44:24 GMT

I paid the processing fee and got it returned to me. I still had a 300.00 limit with an annual fee.

Re: HSBC Prequalify

Anonymous — Mon, 29 Sep 2008 18:51:18 GMT

@Anonymous wrote:
I'm confused on why they would need to validate funds for a normal CC.

Notwithstanding my previous statement, they'll probably know in a day or two if you want to call back later like you stated.

The way I understand it is this: the worse your credit, the more they charge as a "processing fee" (don't ask me why). They won't consider your account "approved" really, until they make sure that the funds you've paid for the processing fee are good and in their hands.

I had a $29 fee, whereas DH had a $19 fee. I've heard of others having to pay no fee, too.

OP: Make sure to call the backdoor number and ask for a CLI BEFORE you activate the card. I had uber-crappy credit scores and I managed to score a CLI from $300 to $500. Nice for util.

Re: HSBC Prequalify

Anonymous — Mon, 29 Sep 2008 18:54:45 GMT

first48--- how long have you had your card?

BTW the First 48 show is my favorite

Re: HSBC Prequalify

first48 — Mon, 29 Sep 2008 20:14:16 GMT

goodgirl, I absolutely love the show because you are constantly in suspense. Anyway, my card came in the mail about 2 weeks later. However, I canceled it before I got it because of the 59.00 annual fee and low limit of 300.00. By that time I had gotten approved for Capital One with only a 19.00 AF with a 500.00 limit. I do have the HSBC Discover Card which is the 2% thing with only a 19.00 annual fee and 300.00 limit. I kept this one because the annual fee was much lower. I also had gotten approved with my credit union with 2000.00 limit, Cabelas Club Visa 500.00, Best Buy 2000.00. I am trying to get away from cards with annual fees. Since Capital One and HSBC Discover's fees were so low I kept them.