Help! HSBC Credit card 0%interest but student account!

becky1984

Hi,
Just wondering if anyone can give me some advice please. I have had an HSBC account for some years now and for the past two and a half years I have had a student account. Just before christmas I had run into money problems due to my NHS Bursary being reduced and asked my bank what options were available to me. I was told I could take out a credit card with a £500 limit that was interest free for 9months there and then. So I did! Now I have recieved a letter stating that a mistake was made and that this offer was not available to those with student accounts; they have told me the account can be maintained but not with the 0%interest rate - can they really do this? I signed a contract for 0% so surely its their mistake therefore their problem?

Thanks

iazms

When i applied for the HSBC 0% card, i did notice that the offer was not available for students though i was ok, cos im an ex graduate.

If they insist you cant have the 0% interest deal on your current card, then perhaps ask them to increase your overdraft limit (by atleast £500) which i belive is 0% while your an undergraduate.

becky1984

Thanks for your advice. My overdraft is automatically increased each year and now that im in my third year it is at its maximum of £1500; is it likely that they would increase my overdraft further, interest free?

iazms

Basically because it is THERE mistake, i think they will increase your overdraft limit, but first - get them to let you keep the creadit card at 0%...if that fails, second - ask them what they are prepared to do to compensate you with eg another product which may prove useful to you...if that fails...lastly - suggest they increase your overdraft by another £500 at 0%.

Good luck, all the best, do come back and tell us the final outcome

becky1984

Unfortunately, they have refused the 0% credit card offer but offered me £250 increase on my overdraft facility for one month that i would be charged 1% over the basic rate for! Not too impressed but have given up now, no point in having an extra £250 for one month; if i couldnt pay it back within that month then i would be faced with a £25 charge plus the interest charge!
Such is life!!! :rolleyes: