HSBC Premier Account declined because of credit checking!!!!!!

Julesk69

Thanks for your replies...

There is no fee for the Premier account, there is with the advance account.

What I find amazing is that I hadn't settled the account with 02 (still disputing) when HSBC gave me a credit card with a £9k limit ???

I am not asking for any credit just upgrading to take advantage of the savings account higher interest.

I will definitely pursue the removal of the default. Fingers crosssed that I can... it is only £22. I have learnt my lesson !!

J

gt94sss2

Julesk69 wrote: »

I am not asking for any credit just upgrading to take advantage of the savings account higher interest.

The Premier account comes with some credit facilities as standard - hence their checks.

However, you do realise that you are entitled to the HSBC 8% Regular Saver with your Advance Account? - its not just limited to Premier customers.

As such, you might want to open one anyway, while you look at getting the default removed etc/upgrading your account.

Regards
Sunil

onlypaddy

Julesk69 wrote: »

There is no fee for the Premier account, there is with the advance account.

Fair enough if you meet the eligibility criteria?:

HSBC_Website wrote:

HSBC Premier is available without a monthly account fee if you meet any of the following criteria:

• You have savings or investments of at least £50,000 with HSBC in the UK. We request that your main income is paid into your HSBC Premier Bank Account; or
• You have an individual annual income of at least £100,000 paid into your HSBC Premier Bank Account and either: 1. a mortgage(s) of at least £300,000 with HSBC in the UK
  2. a product taken out through our independent financial advisory service, excluding mortgage-related insurance; or
• You qualify for HSBC Premier in another country

As the savings account you refer to which pays 8% is the regular savings account, the fact that you have £50k+ in savings is irrelevant as you can only pay in £250 a month, on which you'll earn about £130 interest.

If you cant meet the criteria you'll pay £25 a month, costing £300 in fees for the year and making the savings account a total waste of space and costing you money in the longrun.

Unless you meet the criteria of course....

Julesk69

I dont have 50K+ savings but meet the other criteria... investment and salary, so now account fee which I do with advance

Will check on the advance premier savings account, why didn't they offer the account when that is all I wanted??

In the throes of looking for another bank / building society, not sure who to go with. Santander have good rates but poor performance!

pcombo

Julesk69 wrote: »

I dont have 50K+ savings but meet the other criteria... investment and salary, so now account fee which I do with advance

Will check on the advance premier savings account, why didn't they offer the account when that is all I wanted??

In the throes of looking for another bank / building society, not sure who to go with. Santander have good rates but poor performance!

O no your angry that you cant get more credit and into more debt.

thatsean

pcombo wrote: »

O no your angry that you cant get more credit and into more debt.

How is this helpful?

Julesk69

??? I was't asking for credit....I have a very good income, which is why I wanted to upgrade and get a better SAVINGS account rate. Not sure why you needed to post that? Not helpful at all..

I agree- not helpful at all.

Julesk69

FYI- I am not in debt.

Baldur

You qualify for the 8% Regular Savings account with Advance anyway, but it's no great shakes because of the low monthly maximum deposit limit (also true of the Santander eyecatching rate of 5% on £2,500, which will only amount to £100 interest after basic rate tax has been deducted).

My HSBC RS account matured last year and I received £102.80 interest after basic rate tax.

pinkteapot

The account that's just called "Premier Savings" is shocking for interest. Their Online Bonus Saver offered to all customers has a better rate. Hubby had all his cash savings in Premier Savings till I pointed this out.

The 8% Regular Saver is nice but as others have said you're limited to putting £3k in and it's open to Advance customers anyway.

If you want a Premier account, you could try going into your local branch, asking to speak to a Premier Adviser and explaining your situation. Our relationship manager is based in our local branch and is generally more helpful than the call centre staff.