Low credit limits on HSBC '0% for 15 months' deal

The_Boss

If you really are certain about applying for another card, do it now and keep the HSBC one. But dont apply to M&S cos chances are you will be turned down. As said above, they are backed by HSBC and if HSBC have decided you only deserve £1500, then they wont give you any more and will probably reject your application.

Steel_2

...sat down and had a think about it and decided I don't want the HSBC card. I see no point in hanging onto the card if I won't use it. I have one credit card and I've got myself into enough trouble with it, let alone having another one lurking nice and clean in the background. I don't yet have the moneysaving willpower needed to ignore it so I'm better off not having it at all.

I've rung HSBC and cancelled the application.

As for the M&S card, there's obviously no point in applying if it's part of HSBC as the result will probably be much the same not to mention this might be an indication of the credit limit I can expect if I go elsewhere for a card.

I'm going to leave the balance tranfer issue for now. I'll think of other ways of freeing up more cash so I can try and make bigger payments on the Egg card balance and revisit the issue of balance transfers at some point in the future.

Thanks for your help everyone.

alicat

Applied succesfuly for card and got reasonable credit limit 7k
but have received letter today to say i have been quoted incorrect promotional period and that is only until 1/1/08 - not happy
have transfered balances to card been debited with 2% fee.
To my mind i have a contract which they are now changing the terms on!!
Anyone else received this letter?

techno_geek

Surely if you got a lower limit than you were hoping for, then you could phone them to request a higher limit (maybe having to provide 3 months of payslips and bank statements)?

scott_lithgows

alicat wrote:

Applied succesfuly for card and got reasonable credit limit 7k
but have received letter today to say i have been quoted incorrect promotional period and that is only until 1/1/08 - not happy
have transfered balances to card been debited with 2% fee.
To my mind i have a contract which they are now changing the terms on!!
Anyone else received this letter?

Yeah I got this letter and started a thread on it last week,phoned and was told it was a mistake but keep all your paperwork!

Heavy

i applied to HSBC for the latest balance transfer deal and got turned down.yet i was accepted for an &more card by m&s???How weird cosidering they are part of same group apparently...

Phoenix79_2

alicat wrote:

Applied succesfuly for card and got reasonable credit limit 7k
but have received letter today to say i have been quoted incorrect promotional period and that is only until 1/1/08 - not happy
have transfered balances to card been debited with 2% fee.
To my mind i have a contract which they are now changing the terms on!!
Anyone else received this letter?

Thousands of people got it! Purely an error.

adrian2000

All,

I took out this offer and then received this letter saying the 0% was up until Jan 2008 and not April 2008.

I then phoned them and spoke to a couple of people who said that the offer is April 2008 and not January 2008. I asked them to confirm this in writing to me as when it comes to January/ April next year wanted to have it in writing from them as the charges will be quite a lot. An example of the charges are shown on the original forms that they sent to you.


Make sure you phone them and also get a copy of a letter confirming that it is 0% untill Apr 2008.

I received my letter after about 5 days confirming the interest rate was up until April 2008

Also you can use the 0800 328 1370 that they sent you to activate you card.

**** Finally make sure that you set up a reminder in Microsoft Outlook to pay the balance off say at the very begining of March otherwise they will charge you interest right back to when you transfered the amount and that will be a hefty amount.********

Hope this helps!

Adrian