HSBC 0% balance transfer - pathetic credit limit offered

exel1966

fairylights wrote:

We got an approval letter today! Applied online 29/1, so much quicker than I was expecting after reading on here. They want documents posting - thought it might be better to take them into branch, to be honest!

Quick question, though - in the documents, in nice bold letters, it says:

Total Charge for Credit: £162.25
comprised of (sic :rolleyes: ) the following: Total interest charge: £162.25

What's that about? I thought it was free? new to 0% bts, me!

EDIT - I found the answer in another HSBC thread. It's not going to charge us anything - UNLESS we don't pay it off, I think. Panic over. Now just to find bills and things in OH's name!!!!

The credit charge relates to your allocated credit limit and what you would be charged per anum if you used your full allocated limit. Don't worry about it being there, it's quite normal and you will still receive your 9 months 0% on transfers and 6 months 0% on purchases.
I would guestimate your credit limit to be approx £2300 based upon the credit charge figure shown.

I don't want to put a dampner on your hopes, but i was approved and received the same letter as you within 6 days of applying online, though it took nearly 2 months to get the card !!!!

schiff

Please have a look at a new thread I've started "HSBC CC - the solution?"
It could save you a lot of grief - hopefully!

http://forums.moneysavingexpert.com/showthread.html?t=150815

JasonW_2

Sorry for the dumb question (Ive got flu thats my excuse ) I got accepted for the card, got the letter today so just about to send the agreement back, on page 6 there is a bit 'signature on behalf of HSBC bank plc' now I KNOW this is for the bank to sign yet it doesnt say that anywhere and part of me wants to sign it LOL!! I dont want to delay the application so Im asking this silly question, can someone help me out?

JW

schiff

Jason - you don't need to sign it!
By the way have a look at a new thread I've started "HSBC CC - the solution?".
It might make your flu worse traipsing to a branch of the bank but you could get your card (and BT if applicable) a bit quicker that way. And you are possibly off work with your flu, which gives you the spare time to go! Hope the branch isn't next door to where you work though!

Dumbledore55

Hi

I applied for a 0% card on 1st February - this morning got an 'we need more information' letter 'please ring this 0870 number'.

Will this be that they need a payslip and utility bill as proof of address and does anyone know if I could speed things up by taking them into a local branch?

Thanks

YorkshireBoy

Dumbledore55 wrote:

...does anyone know if I could speed things up by taking them into a local branch?

I posted way back in December (on the original HSBC 9 month thread I think?) that the quickest way to get the card up and running was to take your ID (separate for name and address), bank details, and BT details (if you have any) to branch*.

For me, the BT was fully completed within 4 days of this branch visit.

* They'll verify your ID, ask you to sign the credit agreement, try and sell you PPI (and ask you to sign that you were offered it but declined it), and ask you to choose and enter a security PIN number using the CSA's keyboard - make sure they look the other way! .

rsykes2000

ronaldmacdonald wrote:

lol, if you got this letter be prepared for the following:

1. 20 minute call to Indian call centre on 0870 number
2. A 2 week wait
3. The same letter to arrive again :eek:
4. Repeat steps 1 - 3 ad infinitum

I got this. Called from work, spoke to someone within 10 mins, they said it was an anti-fraud measure to make sure I was the person living at that address, got my card a week after.

Dumbledore55

Dumbledore55 wrote:

Hi

I applied for a 0% card on 1st February - this morning got an 'we need more information' letter 'please ring this 0870 number'.

Will this be that they need a payslip and utility bill as proof of address and does anyone know if I could speed things up by taking them into a local branch?

Thanks

I decided that as I didn't need to do a BT until the beginning of May, I'd give their CS dept one try at the phonecall thing - fully expecting to wait 20 mins I rang them this morning. Phone answered within 6 mins - the reason they wanted to speak to me was that they weren't offering me the credit limit I had requested and did I still want it. Offered £4750 instead of £5000. I said 'yes please'. I'm told the credit agreement will be with me in 7-10 days and they'll arrange to do the BT up to the credit limit for me.

They didn't ask to see any documentation it was just a query about offering me £250 less than I needed for the BT I requested.

I'll wait and see if the paperwork turns up in the timescale promised but to be honest, so far my application hasn't gone too bad although nowhere near as quick as others.

I'd just like to thank people for their previous posts because it alerted me to apply much earlier than necessary and (hopefully) I will have all the paperwork and the BT sorted before May.

Dumbledore55

Got my agreement letter today asking for a signature, a recent payslip and a utility bill - my agreement is still giving me the 9 months at 0% bacuase I applied before the offer ended.

The letter explains that they have had a higher than usual demand for their credit card so they will try to get the card back to me within 15 days but can't guarantee it. I'm prepared to wait because I don't need to do the BT until 6th May and I want to get as much benefit out of the 9 months as I can.

Having said that, I'm glad I applied early because its not the quickest service in the world and at least I know I'm getting one. My initial application was on 1st February so its going to take nearly 7 weeks if things go to plan.

Now I need to look for another good 0% no fee deal for the end of July when my Capital One deal ends - got a big debt on that card so I may need 2 cards!