HSBC CC: reloading BT

Hello all, 
I'm coming up to the end of my promotional period with my HSBC credit card for my 0% interest no-fee balance transfer.
Was wondering if anyone had any experience "reloading" another BT once the full balance is paid off? By which I mean - does HSBC tend to re-offer this 0% no-fee promo on the same card once the original BT is fully paid off?
At the moment I can see an offer for 2.9% fee BT with 0% interest, which of course is not as good as the original one - so was curious to know if this will change once I make my final payment to clear the outstanding balance.
OR - would I need to cancel this card and re-apply to get a new 0% no-fee BT - and how long would I need to wait before re-applying?
Thanks for any insight you might be able to share!

Comments

  • Brie
    Brie Posts: 9,816 Forumite
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    In my experience the 0 fee BTs are a new card promo.  I've not had one offered on an "old" card for probably 10 years at a time when BTs were all the rage and you could get lots of free cash with them.  So the 2.9% fee BT is likely all you'll get from this card - though I must say that is a very nice low fee.  My cards are currently looking more to the 5+% point so not much use to me.  

    How long you wait depends on how good your credit is.  You might apply now and be accepted if you are on a good wage with a great credit history.  If that should for some reason fail then you might need to cancel the current card, wait 3 - 6 months for that to be reflected on your credit history and then start again.  
    "Never retract, never explain, never apologise; get things done and let them howl.”
  • born_again
    born_again Posts: 14,268 Forumite
    First Anniversary First Post Name Dropper
    GMNN said:
    Hello all, 
    I'm coming up to the end of my promotional period with my HSBC credit card for my 0% interest no-fee balance transfer.
    Was wondering if anyone had any experience "reloading" another BT once the full balance is paid off? By which I mean - does HSBC tend to re-offer this 0% no-fee promo on the same card once the original BT is fully paid off?
    At the moment I can see an offer for 2.9% fee BT with 0% interest, which of course is not as good as the original one - so was curious to know if this will change once I make my final payment to clear the outstanding balance.
    OR - would I need to cancel this card and re-apply to get a new 0% no-fee BT - and how long would I need to wait before re-applying?
    Thanks for any insight you might be able to share!
    Depends on if they want to offer any.

    HSBC do not forget customers. So cancelling card & hoping for another 0% deal is unlikely to work.

    But as per ML, work to paying off any balance transfers in the promo period. To many have found since covid, that offers can & will dry up leaving you stuck with a high interest rate to pay off.
    Life in the slow lane
  • daivid
    daivid Posts: 1,226 Forumite
    First Post First Anniversary Name Dropper
    GMNN said:
    Hello all, 
    I'm coming up to the end of my promotional period with my HSBC credit card for my 0% interest no-fee balance transfer.
    Was wondering if anyone had any experience "reloading" another BT once the full balance is paid off? By which I mean - does HSBC tend to re-offer this 0% no-fee promo on the same card once the original BT is fully paid off?
    At the moment I can see an offer for 2.9% fee BT with 0% interest, which of course is not as good as the original one - so was curious to know if this will change once I make my final payment to clear the outstanding balance.
    OR - would I need to cancel this card and re-apply to get a new 0% no-fee BT - and how long would I need to wait before re-applying?
    Thanks for any insight you might be able to share!
    Depends on if they want to offer any.

    HSBC do not forget customers. So cancelling card & hoping for another 0% deal is unlikely to work.

    But as per ML, work to paying off any balance transfers in the promo period. To many have found since covid, that offers can & will dry up leaving you stuck with a high interest rate to pay off.
    Maybe I'm misunderstanding your point, but it looks to me they let you get a new 0% no-fee BT down the line. I think it may be a year's wait, but I'm not sure; IIRC I closed my HSBC card about 2 years ago and get 80% chance of approval on MSE credit club for a new one (I know the comparison site eligibility can be wildly inaccurate but can’t see a HSBC eligibility check for their 16mth 0% no fee card and don’t actually want to apply at the moment).

    What I've never had in 8years ish of stoozing is a 0% no fee offer on an existing card, plenty of 0% with a fee or no fee with a lowish APR but (quite logically) the 0% no fee deals seem to exist only to attract 'new' customers. OP if you want 0% no fee you need to try pastures new(ish).
  • GMNN
    GMNN Posts: 54 Forumite
    First Anniversary Combo Breaker First Post
    Thanks all for the replies - I appreciate the comments.
    I will pay off the balance as the promotional period reaches its end and will cancel the card.
  • How long is the 0% period for the 2.9% fee offer? Even if only for 12 months that is a good offer.
  • Zaul22
    Zaul22 Posts: 325 Forumite
    First Anniversary First Post Name Dropper
    HSBC have been offering me 0% BTs on a card I've had for years every month for the last few months, but it's a slight bamboozle as the fee goes up every time. 
  • What are you bamboozled about?  

    Offers vary by customer and by time.

     Under current circumstances, you'd expect offers to become more expensive.
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