Congratulations on your approval
@waqaszm1 wrote:So a few months ago, I set up a checking account with HSBC Premier. ... four months had gone by and I have consistently direct deposited with them. Logged in to online banking about 10 days ago and had an invite on the left side for the World Elite, and applied. Approved instantly but did not show a limit. Card arrived Saturday. (Highest limit on Personal Card $45K).
Congratulations on an AWESOME approval @waqaszm1, and thanks for all the data points and links. Great info. I've eyed this card myself but not sure if my profile justifies a card like this beyond my Chase Sapphire Reserve. It seems like a great premium card! Enjoy that high SL!
@waqaszm1 wrote:tbh, It has been my experience that building a relationship with a bank prior to applying for credit products often yields a better result. This approach has worked for me consistently.
+1 ^ ^ ^ This is great advice from my perspective as well. I've promoted "relationship banking" the longer I've been on My Fico and while there are some members who like to disagree, there are repeated approvals and data points such as this one which support opening banking accounts to increase the odds of credit card approvals, even if the accounts are not at the six or seven-figure amount. Well done!
@Anonymous wrote:Regarding setting up multiple Bank accounts and then applying for credit. That is precisely my methodology as well. However, I seldom re route my direct deposit. Minimum deposits to avoid fees is my preferred option. However, I may alter that based on your experience. Thanks for the DP's
@waqaszm1 wrote:tbh, It has been my experience that building a relationship with a bank prior to applying for credit products often yields a better result. This approach has worked for me consistently.
If you can grab them while they're available, you've been missing out on some great SUBs @Anonymous! I haven't done a lot of these either, but I've tuned into them also. I've gotten banking SUBs on Money Market accounts by setting up accounts and/or moving funds to Capital One 360 and Goldman Sachs Marcus. Bank of America gave me $300 for setting up Direct Deposit to new checking (which I later cancelled and diverted) but I used it as part of my funding to qualify for status in Preferred Rewards. I also moved money into BofA's Merrill Lynch self-directed accounts which gave me a healthy SUB. And now, I've got a targeted offer from Chase (apparently since I have multiple credit cards with them) for $600* to open a checking with Direct Deposit along with a savings account. (*$300 for checking with Direct Deposit; $200 for savings with $15K deposit for 90 days; extra $100 for doing both for a total of $600.) I plan to do that soon. (That's much better than their standard offer of $200 for a new checking account.) All-in-all, not counting credit card bonuses over the past two years, I will have probably earned well over $2000 from banking account SUBs alone! 
(*Caveat: It helps a lot if you have plenty of extra funds in your banking accounts or extra cash flow to be able to fund multiple bank accounts to do this. There was a point in my life not too long ago that this would not have been as feasible. Earning the highest SUBs sometimes requires you move a substantial amount of money to qualify. For example, to get the highest $1000 SUB on Capital One 360 required moving $150K and leaving for 90 days. And sometimes, you're better served moving the money back into more lucrative accounts after qualifying for the SUB.)
@Aim_High wrote:
@Anonymous wrote:Regarding setting up multiple Bank accounts and then applying for credit. That is precisely my methodology as well. However, I seldom re route my direct deposit. Minimum deposits to avoid fees is my preferred option. However, I may alter that based on your experience. Thanks for the DP's
@waqaszm1 wrote:tbh, It has been my experience that building a relationship with a bank prior to applying for credit products often yields a better result. This approach has worked for me consistently.
If you can grab them while they're available, you've been missing out on some great SUBs @Anonymous! I haven't done a lot of these either, but I've tuned into them also. I've gotten banking SUBs on Money Market accounts by setting up accounts and/or moving funds to Capital One 360 and Goldman Sachs Marcus. Bank of America gave me $300 for setting up Direct Deposit to new checking (which I later cancelled and diverted) but I used it as part of my funding to qualify for status in Preferred Rewards. I also moved money into BofA's Merrill Lynch self-directed accounts which gave me a healthy SUB. And now, I've got a targeted offer from Chase (apparently since I have multiple credit cards with them) for $600* to open a checking with Direct Deposit along with a savings account. (*$300 for checking with Direct Deposit; $200 for savings with $15K deposit for 90 days; extra $100 for doing both for a total of $600.) I plan to do that soon. (That's much better than their standard offer of $200 for a new checking account.) All-in-all, not counting credit card bonuses over the past two years, I will have probably earned well over $2000 from banking account SUBs alone!
(*Caveat: It helps a lot if you have plenty of extra funds in your banking accounts or extra cash flow to be able to fund multiple bank accounts to do this. There was a point in my life not too long ago that this would not have been as feasible. Earning the highest SUBs sometimes requires you move a substantial amount of money to qualify. For example, to get the highest $1000 SUB on Capital One 360 required moving $150K and leaving for 90 days. And sometimes, you're better served moving the money back into more lucrative accounts after qualifying for the SUB.)
Aim High, I must say I always look forward to your post. Your wealth of experience, insight and above all your encouragement are a bright spot on this forum. I've been singularly focused on just Credit Card SUBs and now another revenue stream has been revealed. Thank you!