Pre Approved Products

Stella66

I have been reading many threads about some people being pre approved for certain products like loans etc.Does HSBC do this? How long should you be a customer before you get these benefits? What dertermines what you get, is it account conduct or what you pay in each month? How often are the reviews done, is it on monthly basis? Is the review auotomatic or do l need to request for it?

frepol

In pre approved banking I think it is usually better to take 'pre' as meaning before as opposed to already. Being an existing customer of a bank though will not harm your prospects - especially if you run your account well. However, I think the banks are responding to the whole hoo ha about irresponsible lending by making much more thorough checks on customers' full financial histories - for example HSBC is now sharing data with the CRAs on a regular basis, and not just on defaulted accounts.

Lucymiss

when I used to bank with HSBC I got offered two pre-approved loans and also my credit card, I was in the branch one day making an enquiry and was told I could have a credit card if I wanted!
The downside for me it got me into trouble.