HDBC Advance - gutted

skogar

Also rejected and didn't expect to be. I wonder if they are interested in people who regularly use their overdrafts. Hoping to claw back the money with their 39.9% interest rate perhaps.

pjw73

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

MeteredOut

skogar said:

Also rejected and didn't expect to be. I wonder if they are interested in people who regularly use their overdrafts. Hoping to claw back the money with their 39.9% interest rate perhaps.

Not here - I was accepted, have never used an overdraft, never pay credit card interest, have fairly high credit scores on the different websites. I've also never done a current account switch.

No-one here will really know what specific criteria HSBC are using for their decision.

WillPS

MeteredOut said:

skogar said:

Also rejected and didn't expect to be. I wonder if they are interested in people who regularly use their overdrafts. Hoping to claw back the money with their 39.9% interest rate perhaps.

Not here - I was accepted, have never used an overdraft, never pay credit card interest, have fairly high credit scores on the different websites. I've also never done a current account switch.

No-one here will really know what specific criteria HSBC are using for their decision.

HSBC won't know definitively whether you've paid credit card interest either. All they see is the status in terms of the overall standing of the account, the balance history and the amount of available credit. AIUI they don't even see the name of the lender.

PRAISETHESUN

SickGroove said:

I signed up for this & have received everything except my Telephone Banking Security Number...

Is there anyway to set up or log into my actual account without this?

I tried calling them but they said I need to wait for it to come n the post...even though it says on their website you can call them to set this up for you!

Not a good first impression tbh

My experience opening a HSBC several years ago was similar. Ended up waiting a few weeks without any letter arriving and then went into my local branch to make a complaint (didn't fancy sitting on the phone for hours). Fortunately they were actually able to set up my telephone banking password then and there - they logged into their computer and let me type my chosen number into their system. Fairly sure you should be able to do this over the phone - I've certainly done it for First Direct and M&S Bank (back when they had current accounts) which both use HSBC systems.

In any case I'd be escalating this sooner rather than later.

backinbusiness

I applied and am sat on the naughty step for 10 days awaiting an outcome BiB x 

an_ecunemical_matter

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.

MeteredOut

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.

Did it actually say that, in those exact words?

Or was it a more general "do not meet our selection criteria"?

The marketing numbers (Credit Score) Experian/CK show you, whilst not completely meaningless, only provide a limited insight as to whether you will be accepted for any financial product; it is the institutions' own criteria that determines that.

CliveOfIndia

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.............

They'll be referring to their own internal credit score, generated by their own computer systems, tailored specifically to their lending criteria and target customer base.  Their internal credit score bears no resemblance whatsoever to the generic score generated by the CRAs.

ac427

wmb194 said:

ac427 said:

At least some people got a response.  I've not heard anything since i applied. How long did HSBC take to respond ?

I presume the response is via the email provided during the application?

Is there a help contact available?

HSBC is know for being slow at opening current accounts and it can take a week or more for something to turn up in the post. I'd be patient.

Thanks, i got approved.