HSBC's New £120 Switch Offer

fuzzgun19

I got the rejection package today offering the basic account.. I don't think so.
At least it's costing them to send out all this rejection paperwork! :rotfl:

I also used their prepaid envelope to send back their letter saying I won't be taking up their offer.

Nationwide8

It does seem to me that it's becoming obvious the incentives are a hook to get people into HSBC when they know very few people will actually qualify for the Advance because they know the majority will fail the internal credit scoring.It's wasting people's time and effort and in many cases leaving people peeved off with HSBC because they are not actually owning up to the conditions of an account offer,if they did people would not apply in the first place.

starM

I already hold HSBC account I am not eligible for this offer.

My OH is interested in opening up the account but she is a housewife. She has CTC, CB and income from rented property which comes to £986pm.

I have looked through 2nd page of application which asks for income details:-

It says select other income to paid into the account. If I select Savings + Other and input From husband - Do you think that will be acceptable?

The 2nd part says "Gross annual income (regular income including all other credits" Will that include £986 + income from Savings and husband?

Regards
MS

fuzzgun19

starM wrote: »

I already hold HSBC account I am not eligible for this offer.

My OH is interested in opening up the account but she is a housewife. She has CTC, CB and income from rented property which comes to £986pm.

I have looked through 2nd page of application which asks for income details:-

It says select other income to paid into the account. If I select Savings + Other and input From husband - Do you think that will be acceptable?

The 2nd part says "Gross annual income (regular income including all other credits" Will that include £986 + income from Savings and husband?

Regards
MS

This is my situation too, and I just included all income incl. hubbys, and said I'd fund the account with hubb wages + savings. Still got rejected.

Archi_Bald

fuzzgun19 wrote: »

This is my situation too, and I just included all income incl. hubbys, and said I'd fund the account with hubb wages + savings. Still got rejected.

Savings are not income. Savings interest is income. So is dividend payments from investments.

EDIT: those short of £1,750 salary could take the above as a hint. The account T&Cs require an income of £1,750.

fuzzgun19

I didn't say that part was income, it asked how I would fund the account.

Archi_Bald

I didn't say that you did. But I have updated my post.

Gers

Archi_Bald wrote: »

Savings are not income. Savings interest is income. So is dividend payments from investments.

EDIT: those short of £1,750 salary could take the above as a hint. The account T&Cs require an income of £1,750.

Sorry - I can just see for the Advance account:

Pay at least £1,750 into your account each month (or a minimum of £10,500 every six months) not including money transferred from any other sole or joint personal account(s) you hold with HSBC Bank.

..and no mention of income. Am I looking at the wrong place perhaps?

DragonQ

Aha! I knew something was up when I was rejected for this account (having never been rejected for any kind of account or credit card in my life). My salary was missing a trailing zero (probably a typo on my part), so I failed their "income assessment" test - it may not be in the T&Cs but credit checks usually feature this.

They said they can fix this and open the account without doing a further credit check if I call back tomorrow when the relevant department is open.

mrssjs

Rejected and offered basic too!