Rejected by HSBC for the Advance account!

Parpadew

Just tried to sign up for the cashback deal and after the credit check I got a "no sorry here's a basic account instead"! I know this can't be based on credit rating or financial circumstances - are they throttling the number of people eligible to claim the deal?? Or do they just dislike postcodes in Scotland? (Joke joke)

WillPS

There's a thread about this on the correct board: https://forums.moneysavingexpert.com/discussion/6481031/hdbc-advance-gutted#latest

Suffice to say you're not alone, just HSBC being very picky as is their right and as they are known to be.

PRAISETHESUN

Parpadew said:

Just tried to sign up for the cashback deal and after the credit check I got a "no sorry here's a basic account instead"! I know this can't be based on credit rating or financial circumstances - are they throttling the number of people eligible to claim the deal?? Or do they just dislike postcodes in Scotland? (Joke joke)

How do you know this this? Have HSBC explicitly told you which of their unpublished acceptance criteria you do not meet?

Unfortunately HSBC have no requirement to offer you an account if they don't want to. Anecdotally they are known to be quite picky who they accept, as has been discussed on the forums at great length. Incentives are typically offered as a way to draw in new customers so they can profit off of them in the long term - it's likely you just don't fit the profile of a person they want as a customer. 

Parpadew

It's their right but it's weird to offer this incentive only to body people at the last. Weird also not to publish criteria. There is absolutely nothing wrong with my credit rating, I'm a senior manager in a government job, my salary is pretty high. What more do they want?? Feels rude. 

Parpadew

Also, no dependents, worked in this job for years, husband also high earner, no debt. I do have some credit products to keep my rating up. ANNOYING.

dealyboy

I understand ... actually it's more than annoying, people feel insulted with no explanation ... see the linked thread above.

Welcome to the forum. 

TheStoozeFather

Parpadew said:

It's their right but it's weird to offer this incentive only to body people at the last. Weird also not to publish criteria. There is absolutely nothing wrong with my credit rating, I'm a senior manager in a government job, my salary is pretty high. What more do they want?? Feels rude. 

You want them to publish criteria? This will be a set of propensity models, and commercially sensitive. It would be incredibly stupid to publish this.

It's nothing personal and doesn't mean you necessarily have credit problems