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HSBC 0% promotional rate on purchases - "new old card"
tanikk£
Posts: 50 Forumite
in Credit cards
Hi
I applied for HSBC credit card being attracted by their 0% promotional rate for purchases. The application was approved and I received my card ...and, a couple of days later, a letter saying that this special rate did not apply to my account
I had an HSBC credit card before, but closed it in August 2007 as did not use it much. The new card has got the same number as the previous one. I was under impression that after a 6 months break one is considered as a new customer for promotional purposes (read somewhere on MSE) ..it appears to be not.
Is it worth appealing to HSBC about this, or I have no other choice than to close it ? We need a 0%-card to upgrade our kitchen, so I will not be using this one but apply for another one instead, just preferred to use HSBC as we had savings there ...
I applied for HSBC credit card being attracted by their 0% promotional rate for purchases. The application was approved and I received my card ...and, a couple of days later, a letter saying that this special rate did not apply to my account
I had an HSBC credit card before, but closed it in August 2007 as did not use it much. The new card has got the same number as the previous one. I was under impression that after a 6 months break one is considered as a new customer for promotional purposes (read somewhere on MSE) ..it appears to be not.
Is it worth appealing to HSBC about this, or I have no other choice than to close it ? We need a 0%-card to upgrade our kitchen, so I will not be using this one but apply for another one instead, just preferred to use HSBC as we had savings there ...
0
Comments
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I'm not familiar with HSBC's policy, but lenders vary in this respect as with everything else.
Have you checked your credit reports to see whether the old HSBC card was actually closed down and marked "settled"?
Some lenders will not consider applications from former cardholders in the 6 months following closure. The Royal Bank of Scotland stable (which includes Mint, NatWest, Tesco & Ulster Bank, as well as RBS itself) makes former customers wait 8 months and in the case of Egg, it's 12 months.
Exceptions are Capital One, HBOS and Marks & Spencer. They accept applicants a month or so after closure.
In all cases, it's advisable to check your credit reports first to make certain the account is actually closed down and marked "settled" before you re-apply
People who don't know their rights, don't actually have those rights.0 -
We need a 0%-card to upgrade our kitchen ...
To maximise the 0% period for purchases, 15 months is available to new customers from Halifax.People who don't know their rights, don't actually have those rights.0 -
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