Strange ?

carl310166

I have just received my credit agreement from HSBC for my 9 month 0% card.

As i was reading the agreement i noticed a section that read that the "total charge from credit would be £298.00" .

I looked at the T&C's a bit closer,and it stated "the total charge for credit is based on the assumption that you spend your credit limit in full on purchases at the start of the agreement and then repay it by 12 equal monthly payments Blah Blah.......

I have never noticed this on an application before? plus i had to send them a pay slip and utility bill which i have not done before.

I just thought it was a bit strange.......

Paul_Herring

carl310166 wrote:

I have just received my credit agreement from HSBC for my 9 month 0% card.

As i was reading the agreement i noticed a section that read that the "total charge from credit would be £298.00" .

I looked at the T&C's a bit closer,and it stated "the total charge for credit is based on the assumption that you spend your credit limit in full on purchases at the start of the agreement and then repay it by 12 equal monthly payments Blah Blah.......

Got this myself, and didn't think it too strange after I confirmed that this didn't apply in the first 9 months.

I have never noticed this on an application before? plus i had to send them a pay slip and utility bill which i have not done before.

I just thought it was a bit strange.......

Again, I got this request, and I did find this strange - been a few years since I was asked for a paysilp - the original at that!

grumbler

carl310166 wrote:

...I have never noticed this on an application before?

This is recent innovation introduced for all credit companies about 1 year ago.

plus i had to send them a pay slip and utility bill which i have not done before.

They had not asked neither me nor my wife to do this. Probably, they had some information about us from other sources, First Direct for example.

Caped_Avenger

grumbler wrote:

They had not asked neither me nor my wife to do this. Probably, they had some information about us from other sources, First Direct for example.

Ah goody! You might be able to answer my question then!

I currently hold most of my accounts with fd, but was thinking about applying for an HSBC C/C after my fd 6 (well, 8) months 0% ends, to get some further stoozing in. On the basis that i haven't held any accounts with HSBC in over 2 years, but my record with fd is perfect, and my CRA file is clean, am i likely to get a decent enough credit limit with HSBC to make it worthwhile?

Cheers.

Rafter

You might get an ok credit limit - but you won't be able to transfer a balance from fd to HSBC as they are part of the same group.

R.

Caped_Avenger

Cheers for that, will apply once i've cleared my fd card and closed down Morgan Stanley then.

Thanks for the warning about BTing HSBC-->fd. I knew about it but thanks anyways, and would do the BT to Egg Money, then the bulk to fd e-Savings.