They've always pulled Equifax for me. Also they do not report any data to TransUnion
oh ok i see.. so they double hard on equifax? or they used the same inquiry for both applications
Congratulations on your approvals and thanks for sharing those important details.
It sounds as if you may be on a manual review list. My FI does this if you are given alot of credit right after opening a new account. They want to make sure this isn't a fraudulently established account or a mule. Our alerts fall off after 90 days of no issues then another 90 days where the automated system is looking at you then after that your normal status. I would like to think my FI isnt the only one to do something like this especially with the amount of ID Theft right now and the feds cracking down on FI's and how they handle Red Flags/High Risk. Just my 2¢.
Yep, correct. That's the word they used "manual review". It is worth pointing out that I have an offshore relationship with them, too. I have seen a great difference in customer service between the UK HSBC and the USA HSBC with of course the UK customer service being excellent.
P.S. THANK YOU ALL for the loving support. I appreciate your kind words and feedback. Happy panda here, hehe.
Congratulations on your HSBC approvals!
Thanks ~very~ much for those data points and congratulations on your HSBC approvals, @Darinox! You made a nice run of it!
I've considered that Premier World Elite Mastercard but for various reasons, I don't think it would be a good match for me. The reports on the fraud alerts seem a little troubling. Your additional feedback steers me further away, but your situation and relationship investment in the bank is different from my own.
I can imagine that the UK branches are much better than US, as you state. I don't live full or part-time in UK (or Canada) or travel there frequently. I don't even have HSBC branches in my geographic area of the US, so it's not an ideal bank for me.
The card itself is beautiful and impressive, and the benefits seem decent relative to fees. It appears they offer very generous credit limits relative to profile, based on approvals I've seen. On the other hand, I don't have huge travel expenses and supporting a second premium card with hefty $395AF in addition to my Chase Sapphire Reserve might be questionable.
But moreover, I also read in a third-party review that not only do you have to qualify for Premier Banking* to GET the card, but to keep the card you must KEEP Premier banking. Again, with no branches in my area, that would be a heavy investment ( *... of either $5K minimum monthly DD, $75K balances, or $500K mortgage. Otherwise, a $50 monthly fee applies.) The card is clearly aimed at loyal HSBC clients who do all or most of their banking with HSBC.
For you, though, it sounds like a great match! Enjoy that new card and that nice 50K point SUB worth up to $750 in airfare!
Makes sense. I agree you don't really need the HSBC Premier WEMC card if you already hold the Sapphire Reserve. Establishing a relationship with HSBC might be useful if you hold bank accounts in multiple countries and if that country has HSBC you can then instantly trasfer funds between the US and that country fee-free. You can also view all of your accounts in one place.
I agree though there are better cards and banks than HSBC but it sure is a stepping stone for me as I have never had a limit as high as the one I received.