Using HSBC Credit Card

peter021072

I've just received an HSBC Credit Card, however the paperwork says nothing about the 3 year transfer at 0% mentioned on the newsletter, the main reason I applied, only an expensive 24.9%. It seems like a standard piece of paper though. Has anyone explicitly received the 0% rate?

Second question is, can the card be managed from a PC, it seems that everything is trying to direct me to a tablet.

Brie

I don't have an HSBC CC but have noticed the massive push to do everything by app. A lot of it has to do with security so logging in with a thumb print or getting your one time code that way rather than them texting or calling a mobile - even if it's automated.

Websites for other cards still work so I assume HSBC's would too.

BikingBud

I've just received an HSBC Credit Card, however the paperwork says nothing about the 3 year transfer at 0% mentioned on the newsletter, the main reason I applied, only an expensive 24.9%. It seems like a standard piece of paper though. Has anyone explicitly received the 0% rate?

Second question is, can the card be managed from a PC, it seems that everything is trying to direct me to a tablet.

I am sure you didn't just receive a HSBC card!

I take it you applied and considered the Ts&Cs, assessing that they met your needs, confirming that you had read and understood and retained them for your records.

I then got the following, note comment about "What happens next?" :

CliveOfIndia

The 24.9% APR will be the APR applied for purchases - it is expensive, but pretty much average for a credit card.

Double-check the paperwork/email that you received confirming your offer - this will confirm the terms of your 0% Balance Transfer deal. It's really important to check this - not everyone who is accepted will necessarily get the advertised "representative" deal. But the precise details of your personal offer will be stated in the contract.

Regarding the purchase APR - never put spending on a BT card (with a couple of rare exceptions). Otherwise you'll get charged interest on purchases as you're not clearing the entire balance in full every month.

There are a couple of cards these days that will allow you to spend on the BT card, ringfence the spending, and allow you to just repay the spending whilst retaining your BT offer. But these are very much in the minority - unless you're absolutely sure your card falls into this category, then don't use the card for spending.

Finally, make sure you'll be able to clear the card in full when the BT offer expires. You may be able to transfer any remaining balance to another card - but there's absolutely no guarantee you'll be able to do so.

peter021072

It's likely that I was accepted for 0% and given a confirmation on screen if I went ahead, however as the paperwork they have sent me with the card says 24.9% for balance transfers, I'm not sure, so I would rather confirm first than go ahead with a transfer. Do HSBC cards have any sort of telephone customer support from a real person, their bots are useless for this.

Nasqueron

Read the paperwork, it will tell you what offers you have, or go in the app and it'll tell you the offers available, you don't need to ring anyone

peter021072

https://forums.moneysavingexpert.com/discussion/comment/82103049#Comment_82103049

The only permanent paperwork sent to me either physically or electronically clearly tells me it is 24.9% for balance transfers without any context, that's the problem, everything else must have been flashed up on screen during application then dispensed with, so I'm reliant on my poor memory, clearly I should have screenshotted it.

However, I asked Grok whether HSBC have a human contact number for credit card issues. They do on 03457 404 404. After a short time a human answered, and I was able to get some more information just by giving them the card details, birthdate and address. Despite what they sent me, I do indeed have a card for 0%/36 months on balance transfers, the 24.9% applies after that time, but it doesn't say that on what they sent me. Evidently they can't send me anything to confirm this by email, I will have to go to a physical bank to see it. It also seems that by using a keypad they are sending me I'll be able to use a PC to access my Credit card account rather than fiddling around with a tiny tablet.

However, it's strange that they can't send me the real T&C I can store electronically, hardly satisfactory, but I suppose that's better than expected overall.

The_Groat_Counter

I think HSBC's credit card platform is a bit antiquated, at least that's my take as a holder of a First Direct credit card and former holder of an M&S credit card (both are HSBC products, and both appear to run on the same platform).

For example, their statements don't show the end dates of promotional / special offers, i.e. either for 0% purchase or 0% balance transfer deals. I just kept a note of these elsewhere - I recall confirming at least one end date with customer service using the online chat service.

mta999

You will also see it on your statement each month - it will show the balance, the amount due for minimum payment and the interest rate applicable for that month

BikingBud

https://forums.moneysavingexpert.com/discussion/comment/82102818#Comment_82102818

Likely? Oh dear it gets worse.

And this might seem harsh but before we know it we have people complaining about the interest rates they are paying and the whole finance industry apparently owing billions - see motor finance for complete lack of market rates, what might be competitive and how understanding of Ts&Cs is critical in ensuring your own financial wellbeing.

Did you put an email address in when you applied?

I have got 6 docs, some I will have downloaded before ticking the boxes to say I have read and understood. Amongst them is a 7 page booklet that includes this:

peter021072

Of course they have my Email. They sent 4, 2 full of useless photos of people smiling at their tablets, 1 explaining how I conduct a balance transfer with a tablet, not stating what the rate actually is, 1 about a keypad I ordered for PC banking. Yet, even after the pin arrived every attempt at PC banking over a week was thwarted by a statement implying the service was temporarily available.

The HSBC helpline confirmed my specific card was 0% for balance transfers, so I've good reason to believe this is the case, but they refused to send any confirmation by email, insisting I use a branch. Are you suggesting I take a chance and trust them? That's how people get lumbered with crap rates. Not once did they guide me to a menu which might tell me what it is. Do you think this is good service?

I just managed to apply for HSBC mobile banking today after multiple tries at ID, so I can do the whole transfer there.

If this is what people call satisfactory service, it will continue to get even worse.