HSBC Credit Cards

[Anonymous]

Hello all,

I already currently have a Discover It card and was approved for AmEx EveryDay card last week(yet to receive it). For some reason, Barclays rejected my application for their Uber Visa card.

I was wondering about HSBC CCs and the experience people have had with them. 

My score is 704 after two inquiries in recent days by AmEx and Barclays. 

I was hoping to get another card to be a buffer and help with rebuilding my credit. 

Discover CL - $6500

AmEx CL - $8000

TIA.

[FinStar]

Hi @Anonymous, welcome to the myFICO forums!

Can you provide more details associated with your profile? What is the source of the score you provided? HSBC typically will HP EQ and SP EX. What is your AAoA and how old is the Discover card?

[Anonymous]

Welcome to myFICO...If you can provide more details about your situation you'll be able to get many more helpful responses.  Things people will want to know (and others may add to this) are:

Real FICO Scores for all 3 CRAs (is that 704 a FICO score? Vantage? FAKO?  And which CRA?)

Total number of Revolving Accounts

-Card/Balance/Credit Limit/When opened

Total number of Installment Accounts

-Type of Loan/Original Amount/Current Amount/When opened

Inquiries on each CRA and how old?

Any closed accounts (whether closed by you, by creditor, paid in full?)

Any derogatory accounts (charge-offs, collections, paid collections/charge-offs, settlements, etc)

Bankruptcy?

Are you an AU on anyone else's CC? (Details)

What is your annual income?

Are you a student?

This is a good start.  As I said, others may have more specific questions for you in order to try and give you the best advice possible.  

---

@Anonymous wrote:

Hello all,

I already currently have a Discover It card and was approved for AmEx EveryDay card last week(yet to receive it). For some reason, Barclays rejected my application for their Uber Visa card.

I was wondering about HSBC CCs and the experience people have had with them. 

My score is 704 after two inquiries in recent days by AmEx and Barclays. 

I was hoping to get another card to be a buffer and help with rebuilding my credit. 

Discover CL - $6500

AmEx CL - $8000

TIA.

---

[Anonymous]

Hi! Thanks for the inputs given. 

1) This is a FICO score reported by Experian

2) Discover credit limit when opened - $1500, automatic CLI done by Discover due to very good credit score(increased to $3500), asked for a CLI a month ago(increased to $6500 which is my current CL) 

   AmEx credit limit when opened - $8000

3) No Loans etc

4) AmEx inquired about my score from Experian, not sure where Barclays inquired. AmEx inquired a week ago, Barclays about 2 weeks ago.

5) No closed accounts

6) No derogatory accounts, no bankruptcy.

7) I'm the AU.

8) Annual income is 70K

9) Not a student.

I hope I've answered your questions. All this is to the best of my knowledge. I apologize for not giving all this information before.

[Anonymous]

The score of my FICO score if Experian. My Discover card is 22 months old. That's my longest credit card.

[DaveInAZ]

If you applied for Uber 2 weeks ago did you get the letter from Barclays yet stating the reason for the denial? Barclays most likely pulled Transunion.

I would advise you to look elsewhere than HSBC, they're a pain to deal with in verifying identity and take forever to do that, and if you do get approved they only give pretty mediocre credit limits, $2500-4000 is typical.

You're off to a good start with Amex and Discover. Maybe Capital One Savor card? The Savor card has 4% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases, and has a $400 cash bonus for $3k spend in 3 months, but has a $95 annual fee after the first year. I don't like annual fees cards, so I went with Savor One, 3% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases, $150 bonus for $500 spend in 3 months, and no annual fee.

[xaximus]

Personally, I would look into BoA Cash Rewards and set the 3% category to Dining. Cap1 does a 3 CB pull which I'm not a fan of. Plus BoA is a known grower and SP CLIs every 90 days.

[staticvoidmain]

Based on my and other people's experience, foreign-based (UK) banks (Barclays, HSBC) seems very strict and a pain to deal with. I'd just apply for another card as I would not want to waste a hard pull on a high uncertainty application. As always, YMMV. Also, just my 2¢.

[AverageJoesCredit]

Just would like to add that most likely Discover did not , nor do they, imho, give out cli or auto cli due to having a very good score. Discover uses many other internal factors to issue credit limit increases of which we have no clue lol. Otherwise many here would get crazy cli for having high scores

[Anonymous]

Hello @DaveInAZ, 

Sorry for the late response. Yes, I received the letter from Barclays, the reason was not long enough history or something along those lines. I actually didn't find much about HSBC cards and was wondering why. I guess now I know why. 

I was also looking at Visa CCs, which is why I applied for the Uber card. I've heard Visa is better because it's so widely accepted. Chase is not ready to give me a credit card since I just opened an account with them. As for Capital One, people say it's not the best out there. Does your opinion differ?