HSBC CC: reloading BT

GMNN

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!

Brie

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.  

born_again

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.

daivid

born_again said:

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

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.

WYSPECIAL

How long is the 0% period for the 2.9% fee offer? Even if only for 12 months that is a good offer.

Zaul22

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. 

MorningcoffeeIV

What are you bamboozled about?  

Offers vary by customer and by time.

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