Have HSBC lost my credit agreement?

Cantdance_2

Hey All,

Around a month ago when I was having a crisis moment about my debts I suddenly got a letter through from HSBC offering me a credit card, with a pre-approved limit of £7000 , 0% on balance transfers and purchases for 6 months.

Now this sounds like a really bad idea for someone in bad debt but actually it couldn't have come at a better time as it's enabling me to transfer a horrible storecard debt over to it, saving me about £200 a month... As my credit score is not the best I'd thought it would be impossible to transfer the storecard to another card but the letter specifically states that I am pre-approved for the card, with x% apr and £7000 limit, no credit check or application necessary.

In with the letter was a credit agreement for me to sign and send back and one to keep.

However, there was no pre-paid envelope, no address to send anything back to, and also no phone number to ring and ask anything. I eventually found a number for HSBC Credit Card and rang them up and they told me to take the forms into my local branch.

So I did that, and it's now been two weeks and I've heard nothing. I rang again up on Friday (as I really need this card ASAP to save myself another month of extortionate minimum payments!) and they said they have no record of my application as they could only see applications that had been done over the phone. They passed it on to my branch who looked into it and said that it didn't look like my credit agreement ever reached Card Services and that I'd need to go into my branch and do another application.

But the whole point is that I don't want to do an application as this implies that I may or may not be accepted (and probably not, given my credit rating!) As far as I'm concerned, from the letter, I was entitled to this credit card and as they've even sent me the credit agreement they shouldn't be able to take back this offer...

If they really have lost my credit agreement do you think they will still be obliged to give me the credit card as I have a letter stating that I'm pre-approved for x, y and z with no credit check?

Or do you think I'm being premature and there's a backlog and I should be a bit more patient?!

Cheers

James

maforduk

If you still have the letter, take it into branch and tell them that you want these terms again as it's got lost in the post from the branch to the credit card services.

Cantdance_2

Thanks, I've been into my branch just now and left a photocopy of the letter with them, they're looking into it and seeing what they can find out!

MUPPETS!

James

sicker

Sorry to be pessimitic Cantdance but take everything you read with a pinch of salt. Your credit limit may be pre-approved but you still have to apply and be accepted. Therein lies the rub. Hope I am wrong and all goes well for you.

John

Clariman

Hi Cantdance. If you need the money urgently, I would look for another card now. I applied for an HSBC card online on 14th February and then waited. I eventually got the credit agreement to sign which I posted back to them on 3rd March. I have not received a card yet. When I called them today, all they could say was that it should be coming "soon" but could give no estimate. They clearly have a huge backlog which they are working their way through.

Clariman

Cantdance_2

Thanks guys... my branch rang me back eventually and they told me the same as you - that the backlog in the 'pre-approved' department is enormous and it could well take another few weeks to get my card.

So I won't panic just yet!

James