HDBC Advance - gutted

eskbanker

an_ecunemical_matter said:
I think they're "full" of this Advance which if it is the case is slightly disingenuous although I understand they reserve the right to rejct anyone.

Based on your application being declined, you've decided that this signifies that nobody else is getting one at the moment?

dealyboy

@an_ecunemical_matter said:

pjw73 said:

I've just tried this, and got a reject but with an alternative account option.  

I have 999/999 on Experian and 607/710 on Credit Karma and I was rejected due to credit scoring not being high enough............. I can phone them up and have an account, no ta.

I think they're "full" of this Advance which if it is the case is slightly disingenuous although I understand they reserve the right to rejct anyone.

... too much money 'resting' in your account, perhaps  .

MTrinci

I've also just had a letter explaining that my credit score was not high enough which I find ludicrous as I've never be rejected before for anything and my score is exemplary.  Why bother offering the account if you are not going to honour the offer HSBC as it seems clear that this is the real reason for the rejection.  Disgraceful.  

eskbanker

MTrinci said:

I've also just had a letter explaining that my credit score was not high enough which I find ludicrous as I've never be rejected before for anything and my score is exemplary.  Why bother offering the account if you are not going to honour the offer HSBC as it seems clear that this is the real reason for the rejection.  Disgraceful.  

As pointed out routinely on these threads, your 'credit score' is a number invented by credit agencies and isn't used by institutions such as HSBC, who'll have their own internal proprietary algorithms to assess creditworthiness - the fact that they'll refer to these as 'credit scoring' doesn't imply that they pay any attention to the figures made up by the rating agencies.

dealyboy

@MTrinci said:

I've also just had a letter explaining that my credit score was not high enough which I find ludicrous as I've never be rejected before for anything and my score is exemplary.  Why bother offering the account if you are not going to honour the offer HSBC as it seems clear that this is the real reason for the rejection.  Disgraceful.  

Hi there MTrinci ... and welcome to the forum 

If they used the phrase 'credit score not high enough' then that is disappointing, whereas as @eskbanker has pointed out it is quite often an internal team or external agency employed for the purpose of scoring applications against a defined set of criteria that the bank has set. So basically you and many others don't fit the profile, that's all, simply a commercial decision which is for them to take, however misguided.

The one thing I would note though is that in any area of life a rejection is unwelcome and hurtful. HSBC as well as you and I have a duty of care. 

eskbanker

dealyboy said:

The one thing I would note though is that in any area of life a rejection is unwelcome and hurtful. HSBC as well as you and I have a duty of care. 

Not sure what your point is here?  HSBC are obviously entitled to decline anybody's application, but should anyone choose to interpret that melodramatically as 'hurtful' (or 'ludicrous' or 'disgraceful' for that matter), that doesn't actually impose any obligation on HSBC to do anything differently (assuming their letter was courteously worded), so how are you suggesting their duty of care comes into play here?

Deec

I was accepted but my wife was rejected with the same letter as others have received. We are both retired, both have similar incomes, are joint owners of our house without a mortgage, no debt, no defaults, both on electoral roll etc etc. Why me and not her?

Caeraupracter

eskbanker said:

dealyboy said:

The one thing I would note though is that in any area of life a rejection is unwelcome and hurtful. HSBC as well as you and I have a duty of care. 

Not sure what your point is here?  HSBC are obviously entitled to decline anybody's application, but should anyone choose to interpret that melodramatically as 'hurtful' (or 'ludicrous' or 'disgraceful' for that matter), that doesn't actually impose any obligation on HSBC to do anything differently (assuming their letter was courteously worded), so how are you suggesting their duty of care comes into play here?

Agree, after all we're the ones essentially trying to 'rip them off' exploit this offer. ;-)  Might be fruitful to bear that in mind.

I just got my £125 - yippee.  That answers my query about whether already having a CC with them affecting things.

I might actually keep the global money account - must research on whether it's better than my Starling current account for foreign currency spending.

MTrinci

eskbanker said:

dealyboy said:

The one thing I would note though is that in any area of life a rejection is unwelcome and hurtful. HSBC as well as you and I have a duty of care. 

Not sure what your point is here?  HSBC are obviously entitled to decline anybody's application, but should anyone choose to interpret that melodramatically as 'hurtful' (or 'ludicrous' or 'disgraceful' for that matter), that doesn't actually impose any obligation on HSBC to do anything differently (assuming their letter was courteously worded), so how are you suggesting their duty of care comes into play here?

The exact wording from HSBC was as follows;

"When you apply we use credit scoring to help us decide the right account for you.  

At this time your score wasn't high enough, to open an Advance Account"

So it was courteously worded, but in my opinion factually inaccurate to say that this account is not right for me because of credit scoring.  I agree that they have the right to refuse anyone they so choose, but let's be honest here - again in my opinion the reason they declined is an unwelcome number of applications rather than any credit scoring.
  
So perhaps next time HSBC could promote the Advance Account incentive as a limited time offer which I missed the boat on.  

eskbanker

MTrinci said:

eskbanker said:

dealyboy said:

The one thing I would note though is that in any area of life a rejection is unwelcome and hurtful. HSBC as well as you and I have a duty of care. 

Not sure what your point is here?  HSBC are obviously entitled to decline anybody's application, but should anyone choose to interpret that melodramatically as 'hurtful' (or 'ludicrous' or 'disgraceful' for that matter), that doesn't actually impose any obligation on HSBC to do anything differently (assuming their letter was courteously worded), so how are you suggesting their duty of care comes into play here?

The exact wording from HSBC was as follows;

"When you apply we use credit scoring to help us decide the right account for you.  

At this time your score wasn't high enough, to open an Advance Account"

So it was courteously worded, but in my opinion factually inaccurate to say that this account is not right for me because of credit scoring.  I agree that they have the right to refuse anyone they so choose, but let's be honest here - again in my opinion the reason they declined is an unwelcome number of applications rather than any credit scoring.
  
So perhaps next time HSBC could promote the Advance Account incentive as a limited time offer which I missed the boat on.  

They've had any number of similar offers before (albeit usually switching rather than just opening) so I doubt that the number of applications would be a surprise to them, and if yours was declined because of being received after the offer expired then I don't believe they'd have had any issue with stating that as the reason.

Edit: on reflection, if your application was after offer expiry they'd still accept it if your 'scoring' (against their internal unpublished criteria, not Experian's number, etc) was high enough....