HSBC - Accept but..Underwriting will advise you your limit

moneysavingallday

After having a review with HSBC with who I hold my main current account the Advisor there told me i'm a really good customer with a Behaviour Score of 70 and a high amount coming into my account. She said that if I want a credit card I'm very likely to get accepted.

She took me through an application tonight for the extra products I've been wanting. First, a second current account to run alongside my main one. This application was accepted and the system offered me a £400OD limit on that account (I already have an OD limit of over £1k on teh main HSBC account). Then for the credit card applic she asked me to wait while the computer made its decision. Then she said it has been accepted with an APR 16.9% but it must be referred to Underwriting to determine the actual credit limit. She said they'll let me know in a day or two.

I've never heard of this before. I've heard of Accept, Decline or Refer. But she says mine has definitely been agreed but that Underwriting must determine the actual credit limit....

Kavanne

It's probably a refer, tbh. It might have told her the limit but I think with refers they are meant to hold off telling you just in case there's a reason for it to decline at the underwriters.

It is weird what she told you though....

moneysavingallday

Gah, how strange. I phoned back to find out what's going on. I was told that credit card applications can come back as straight Decline, straight Accept or refer. But, occasionally when an application is really borderline it will come back as Accept but when the Advisor scrolls down to see what the limit offered is...it says 0.00

She said that where there is adverse credit or a poor relationship with teh bank, you will get a straight Decline. She asked me some questions and concluded that I got this result because I'm not on the electoral register yet and have quite a thin credit file but at the same time I have no adverse credit and I have a very high rating with my bank. She said they also like the fact that I have lots of products with the bank (Business Account, savings etc) and that the application has been referred and they may override the 0 limit and open me a card with a small limit on it.

moneysavingallday

They've approved me now for a card with just over £3k limit. Not bad for my first credit card!!!

londonuk2008

decent limit as well!