HSBC Experience

[dbatl14]

I received an invitation to the HSBC Gold Card with a 18 month 0% APR BT. So I thought I try it but I never experienced an app process like that. I got a notice saying that they are reviewing the application and will contact me if they need something else.

About 5 days later I got an email and phone call (went to v/m) from their Security department to call them. I tried calling them but getting through was almost impossible it took me a few days and it asked for some pin number that I didn't have. Finally spoke to someone but it appears that none of them are in the US and they told me that they need my drivers license and copy of utility bill.

They sent that in a secure message and I submitted the docs but now still haven't heard anything. This was really odd and don't know what to expect and if this was even worth it but figured since I have gone this far might as well got through with it and not waste an inquiry.

Does anyone have any experience with them or the card?

[Anonymous]

I have the Gold card since Dec 17 with an initial CL of 1750 and have since received an add'l 1500 CLI. No spending bonus/points or extras on this particular product. The web portal is a bit clunky (meaning the payments appear to be handled by a third party), but payments post pretty quickly though. I applied with FICO scores in the 670's. No AF, so all in all, I'd say it makes a pretty good secondary/supplementary/sock drawer card. - I wouldn't (and don't) use it as a "daily driver".

[FinStar]

When it comes to their application review > approval, it tends to be a fairly slow process. Just be patient and wait things out. If it's been longer than 2 weeks and you haven't heard anything then you can contact them to see where things are.

I have 2 of their cards and one of them was instantly approved after verification while the 2nd one took about a week or so.

[bizarrocreditworld]

What you describe is normal for the course. I had the security people ask for the ID and utility bill with my first card as well. Finstar described the process for both the first and second cards perfectly.

[dbatl14]

Just to update

I just got an email from HSBC that I was approved but before I saw and inquiry done. I applied 5/5 didn't hear anything from them until 5/10/2018 where I got an email and phone call. Couldn't get in contact with anyone until 5/14 and they requested DL and Utility Bill.

Haven't heard anything and haven't received any confirmation of receipt of my docs, etc. I sent a follow email but nothing. Today is 5/30. I have been trying to call them the last 4 days only with being on hold for a very long time and just to hang up.

So it took almost a month. I hope this isn't an indicator what it will be like dealing with their CC's

[dwayne4607]

FinStar, if you don't mind me asking, what were the credit limits like on each card and in what range is your score?  How many inquiries did you have?  

Thanks!

[FinStar]

Hi @dwayne4607

Each card was approved as $5,000 (Platinum Rewards), eventually increased to $15K and the 2nd one @$15,250 (Cash Rewards).

They pulled EQ for both applications and my FICO scores hovered around ~795.

Inquiries? LOL. Actually, around 8 with the 1st application in September of last year and 14 during the last one in April.

[dwayne4607]

Thanks for the info, @FinStar.  I applied for the Cash Rewards and got it with $5,500.  It had a $150/500 sign-up bonus, and I kinda like free money.  Afterward, I saw they had a Gold Mastercard with a lower range of APRs but an 18 month 0% intro APR on balance transfers AND purchases, which is pretty appealing, so I went ahead and gave it a shot last Sunday.  Haven't heard anything yet.  My scores aren't as high as yours, but not bad--depending on who they pull, I'm between 735 and 765.  I also have a few more inquiries than you, though, so I guess we'll see.  Did you request your CLIs or were they automatic?  If you requested them, did they cost another hard pull?  Thanks again!  

[FinStar]

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@dwayne4607 wrote:

@Anonymous for the info, @FinStar.  I applied for the Cash Rewards and got it with $5,500.  It had a $150/500 sign-up bonus, and I kinda like free money.  Afterward, I saw they had a Gold Mastercard with a lower range of APRs but an 18 month 0% intro APR on balance transfers AND purchases, which is pretty appealing, so I went ahead and gave it a shot last Sunday.  Haven't heard anything yet.  My scores aren't as high as yours, but not bad--depending on who they pull, I'm between 735 and 765.  I also have a few more inquiries than you, though, so I guess we'll see.  Did you request your CLIs or were they automatic?  If you requested them, did they cost another hard pull?  Thanks again!  

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Awesome and congratulations @dwayne4607!

I kinda did the same thing for the SUBs.  When did you get approved for the Cash Rewards?   And, trust me, your scores are pretty good plus you did well -- I had a slew of new accounts + inquiries to boot.  I wasn't certain of the UW criteria at the time since I didn't even think the first CC had a chance to be approved last year.   But, it did, and tried them again this year .

As far as CLIs, if your account is initially approved for a "lowish" CL or need more flexibility, you can contact the CS department to submit a reconsideration request for the SL, they will use the same HP as long as it's within or less than 30 days.  If approved, you'll see it reflect online within a few days.  Otherwise, CLI requests are HP.

[bodyboy1]

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@FinStar wrote:
When it comes to their application review > approval, it tends to be a fairly slow process. Just be patient and wait things out. If it's been longer than 2 weeks and you haven't heard anything then you can contact them to see where things are.

I have 2 of their cards and one of them was instantly approved after verification while the 2nd one took about a week or so.

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 >Same as Finstar..   exactly the same..  no fee,  no frills ...never had a problem  (Balance transfers every now & then)