Told can't have credit card after credit agreement received

lee2k5

Hi,

Just after some advice if possible. Me and my partner are going to the Us in 3 weeks for a 2 week holiday. My partner recently applied and was accepted for a £1500 credit card with current bank hsbc. Due to this decided to leave spending due to the fact that he is starting a much higher paid job in September and planned to clear the card then.

He has received the credit agreement from HSBC and returned this to them and retained his copy. Since then has had a letter asking to call in when they told him they have changed their mind and wont offer it.

We don't know what to do now as will have very little/no spending money fro our holiday.

Can HSBC do this after sending the credit agreement? What can we do to get the money- both have averageish credit ratings.

Any advice would be appreciated. Thanks,

PNPSUKNET

then can withdraw a credit agreement at any time, you shouldnt be using a credit card ffor spending money

lee2k5

I agree that the situation is not ideal but what else are you going to do with a credit card but spend money?

molerat

One of Martin's first rules. Only use the credit card as a convenient way of spending the money you already have saved up instead of carrying wads of cash around.

Get a loan ?

paulmcerlean

I think PNPSUKNET meant you should not rely on a credit card not yet recieved as an only source of funding for holiday spending money. These things are not guaranteed after all. But yes, until you have the card in your hand, they can withdraw the account should they feel they have good reason.

Have you asked them why they have done this?

lee2k5

They wouldn't give anything but the scripted answer of "after further review we have withdrawn the application". I'm going to ring the credit card department tommorrow as after applying online through the HSBC website they have accepted me for a £1500 credit card. Again.

molerat

paulmcerlean wrote: »

But yes, until you have the card in your hand, they can withdraw the account should they feel they have good reason.

They can withdraw the card once you have hold of it so nothing is certain.

paulmcerlean

Very true!

PNPSUKNET

sorry I ment cash