HSBC's New £120 Switch Offer

Dird

Mosler wrote: »

Can Noddle credit scoring be trusted?

Roseanne1 wrote: »

My Noddle score is the same as Mosler's and, like him/her, I have never been rejected for a current account.

The scores are meaningless. My Experian is near max apparently while my noddle is 3/5.
@Mosler if your salary is above the limit you probably have nothing to worry about. If it's below then do it on the phone and don't mention the switching deal! Say you want the account for the ISA and will make up the difference with savings then you might have a chance.

Roseanne1

Dird wrote: »

The scores are meaningless. My Experian is near max apparently while my noddle is 3/5.
@Mosler if your salary is above the limit you probably have nothing to worry about. If it's below then do it on the phone and don't mention the switching deal! Say you want the account for the ISA and will make up the difference with savings then you might have a chance.

I may just try that when I go to the branch. I can easily prove I have various bank accounts with funds that will easily make up the shortfall. Hopefully, it will work.

YorkshireBoy

Roseanne1 wrote: »

I can easily prove I have various bank accounts with funds that will easily make up the shortfall. Hopefully, it will work.

Your problem is that only the interest from those other accounts could be classed as "income" by HSBC. The capital is, er, "capital".

I met the income requirements, and had what I thought was a very good reason for wanting the account (which I told them on appeal), but was still rejected after an online application. My attitude is yes £240 would have been nice, but what will be will be! I'm not losing any sleep over it. There will be other offers...hopefully more like those offered by YB/CB.

Roseanne1

YorkshireBoy wrote: »

Your problem is that only the interest from those other accounts could be classed as "income" by HSBC. The capital is, er, "capital".

I met the income requirements, and had what I thought was a very good reason for wanting the account (which I told them on appeal), but was still rejected after an online application. My attitude is yes £240 would have been nice, but what will be will be! I'm not losing any sleep over it. There will be other offers...hopefully more like those offered by YB/CB.

I see where you're coming from but, theoretically, I could show them an account with, say, £5,000 sitting in it. I can easily from that draw the shortfall out on their required monthly payments for 12 months, which is all I would need because I would be honest and say I am wanting the account for the associated ISA. They don't need to know that what I am actually doing is recycling the income from my salary in and out of the account.

I agree on your last point, my mother and I will make nearly £200 each and get free European travel insurance just for opening Nationwide's Flex Account. :T I've got my eye on the Clydesdale offer too but that will be one for next year I think. :eek:

cydney65

Just had a strange conversation with HSBC on the phone. I applied 2 weeks ago for the Advance account but not the switching offer. Today I received a flyer about the switching offer and nothing else. So I gave them a ring (using SayNo of course) and the advisor said that a signature confirmation slip had been sent out to me on the 11th. I said I would give it a couple of days and she advised that I would probably need to go into the branch if it didn't arrive and sort it out there. I asked if I had definitely got the account and she said not necessarily!

Funny thing is my OH applied at the same time with almost identical details-except she gets more money than me-and got a flat out refusal!

ETA- When asked what I wanted the account for I said for shopping and that I also wanted to get it for the 6% saver.

mrmajika

cydney65 wrote: »

Just had a strange conversation with HSBC on the phone. I applied 2 weeks ago for the Advance account but not the switching offer. Today I received a flyer about the switching offer and nothing else. So I gave them a ring (using SayNo of course) and the advisor said that a signature confirmation slip had been sent out to me on the 11th.

The same thing happened to me with this. I asked for the signature leter to be re-sent and they agreed to do so given that there are no HSBC banches nearby. That was last week, and it's yet to arrive. It's all a bit of a mess really.

Mosler

I asked a few different HSBC advisors if someone closed an existing bank account, then applied for the Advance account, would they be eligible for the £120 switch offer. A few of them said I would but one said, if someone closed and reopened a current account in a short space of time, they would not be seen as a "new to bank" customer and therefore not eligible. They stated under the T+C's they have the right to refuse the offer, as the customer details would still be on the bank system after the account has been closed.

Is this correct?

RedDwarf82

The mark in the credit file is already there, so let's go ahead. But, given the quality of the service up to the moment, otherwise the discussion would start to be "£240 is not enough... but if you give me £500 _maybe_ I will think about still opening the account".

hedger44

I applied on about 9th July, rang today to ask when I might have a response, they say there is no record of my application. I could apply by phone but as it is for a joint account it will take about an hour - pff, I don't want to talk to them for an hour, quicker to re-apply online. Did so, rang to check the second attempt had registered ok, apparently not, they have lost that one too, was told that quite a few people are having the same problem .... does not bode well for online banking, especially as I will want to pay my mortgage out of this account. I don't think I want to risk them messing that up, not even for £240.

vacheron

I applied on the 13th and came home to a letter today dated the 20th Reference: NSC05 "accepting my application" (note the wording is carefully chosen Not to say I've actually been accepted for the account!) and asking me to sign a signature record form and sales acknowledgement slip.

So some movement at least!