HDBC Advance - gutted

flaneurs_lobster

Might be that one reason for the perceived high rejection rate from HSBC Advance applications is the need to qualify for a £1K overdraft, even if you choose not to avail yourself of the facility.

Could try their overdraft eligibility checker before applying (and getting a hard credit check) to get some idea of likely success.

https://overdrafteligibility-hsbc-lp.hsbc.co.uk/   

CGG_3

I was turned down too!  My OH was accepted. 

WillPS

FFHillbilly said:

the criteria for to get the offer seems to have gone back a year, in March their offer said you can't have held an account since 2019, now it's 2018. generally they go in the other direction

It's been January 2020 for 18 months now. I suspect they've recast the terms completely since this offer is not a switching bonus, hence the discrepancy. It's an interesting development, unfortunate but understandable that they don't want people double dipping though.

WillPS

Stargunner said:

Earlier this year I received switching incentives from both Halifax snd Lloyds, even though their switching t&c’s stated you can only qualify for one.  

I opened a First Direct account almost a year ago, so i just wondered if anyone knows whether HSBC would also likely pay the incentive.

From what I've read, they seem to be less good at enforcing the FD restrictions at HSBC and vice versa. YMMV of course and you've no cause for complaint if you don't get the payout.

artyboy

PloughmansLunch said:

Stargunner said:

Earlier this year I received switching incentives from both Halifax snd Lloyds, even though their switching t&c’s stated you can only qualify for one.  

I opened a First Direct account almost a year ago, so i just wondered if anyone knows whether HSBC would also likely pay the incentive.

Highly unlikely as HSBC seem to have long memories when it comes to customers, so you might want to avoid an unnecessary hard search as they seem to give them if you so much as ask them the time. I’ve had five from them this year alone just from upgrading existing products. 

Not just customers, I'm aware of an employment offer being withdrawn after their internal screening highlighted that the candidate had defaulted on an HSBC account over 15 years prior.

And no, it wasn't me, but HSBC never forgets!

ArianSandra

Me too. Don't need another bank account, just going for the switch bribe. Have top credit score but low income. Might be helpful for the MSE article to warn about this. 

WillPS

ArianSandra said:

Me too. Don't need another bank account, just going for the switch bribe. Have top credit score but low income. Might be helpful for the MSE article to warn about this. 

You don't "have top credit score" - at least not with HSBC. The numbers Experian/TransUnion/Equifax generate are 'illustrative' and are never shared with anyone other than yourself. Lenders themselves decide the criteria.

budgeter043

Same here! Never been declined for anything financial in my life and now annoyed that it will be on my record. Not had an account with them before ever either and should have a fairly decent credit rating so no idea why I was declined. Definitely think there should be a warning for others as I did meet all the criteria. 

phil7445

I got a text from them saying they will let me know within 10 days. Agh! The suspense!! 

wmb194

Its income requirements aren't as strict as they used to be but the Advance account was always meant to be more exclusive.